Proficio Capital Partners LLC Makes New Investment in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Proficio Capital Partners LLC bought a new stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 23,192 shares of the company's stock, valued at approximately $285,000.

Other institutional investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its position in shares of Mineralys Therapeutics by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company's stock valued at $130,000 after acquiring an additional 989 shares during the last quarter. PDT Partners LLC acquired a new position in shares of Mineralys Therapeutics during the third quarter worth $148,000. Martingale Asset Management L P bought a new stake in Mineralys Therapeutics during the 3rd quarter worth approximately $181,000. SG Americas Securities LLC raised its position in Mineralys Therapeutics by 119.0% during the 4th quarter. SG Americas Securities LLC now owns 19,961 shares of the company's stock worth $246,000 after purchasing an additional 10,845 shares during the last quarter. Finally, Verition Fund Management LLC lifted its stake in shares of Mineralys Therapeutics by 30.6% in the third quarter. Verition Fund Management LLC now owns 27,361 shares of the company's stock worth $331,000 after acquiring an additional 6,408 shares during the period. 84.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MLYS shares. HC Wainwright restated a "buy" rating and issued a $30.00 price target on shares of Mineralys Therapeutics in a report on Monday, March 10th. The Goldman Sachs Group reduced their target price on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, Guggenheim restated a "buy" rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th.

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Mineralys Therapeutics Price Performance

MLYS traded down $0.34 during trading on Friday, hitting $14.66. 1,687,154 shares of the stock traded hands, compared to its average volume of 351,566. The firm has a market capitalization of $920.43 million, a P/E ratio of -4.03 and a beta of 1.50. Mineralys Therapeutics, Inc. has a 12-month low of $8.24 and a 12-month high of $18.38. The firm has a 50-day moving average of $11.49 and a 200 day moving average of $12.20.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, topping analysts' consensus estimates of ($1.00) by $0.02. As a group, equities analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of the company's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $9.10, for a total transaction of $97,888.70. Following the completion of the sale, the chief financial officer now directly owns 226,097 shares of the company's stock, valued at approximately $2,057,482.70. This represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jon Congleton sold 18,333 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $9.06, for a total transaction of $166,096.98. Following the completion of the sale, the chief executive officer now directly owns 877,608 shares of the company's stock, valued at approximately $7,951,128.48. This trade represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 33.24% of the stock is owned by corporate insiders.

Mineralys Therapeutics Profile

Mineralys Therapeutics, Inc, a clinical-stage biopharmaceutical company that develops therapies for the treatment of hypertension and chronic kidney diseases. It clinical-stage product candidate is lorundrostat, a proprietary, orally administered, highly selective aldosterone synthase inhibitor for the treatment of cardiorenal conditions affected by abnormally elevated aldosterone.