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

Proficio Capital Partners LLC purchased a new stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 23,192 shares of the company's stock, valued at approximately $285,000.

A number of other large investors also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. raised its position in 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 worth $130,000 after acquiring an additional 989 shares during the period. PDT Partners LLC bought a new stake in Mineralys Therapeutics in the third quarter worth about $148,000. Martingale Asset Management L P bought a new stake in Mineralys Therapeutics in the third quarter worth about $181,000. SG Americas Securities LLC raised its position in Mineralys Therapeutics by 119.0% in the fourth quarter. SG Americas Securities LLC now owns 19,961 shares of the company's stock worth $246,000 after acquiring an additional 10,845 shares during the period. Finally, Verition Fund Management LLC raised its position in 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.

Mineralys Therapeutics Stock Down 4.4 %

MLYS opened at $14.30 on Wednesday. The company has a market capitalization of $712.65 million, a price-to-earnings ratio of -3.93 and a beta of 1.50. The firm has a 50-day moving average price of $10.35 and a 200-day moving average price of $11.90. Mineralys Therapeutics, Inc. has a twelve month low of $8.24 and a twelve month high of $18.29.

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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 the consensus estimate of ($1.00) by $0.02. On average, sell-side analysts expect that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MLYS has been the topic of several research reports. Guggenheim reaffirmed a "buy" rating on shares of Mineralys Therapeutics in a research report on Monday, February 24th. 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, HC Wainwright reiterated a "buy" rating and issued a $30.00 target price on shares of Mineralys Therapeutics in a research note on Monday.

Insider Activity at Mineralys Therapeutics

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

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