Prudential Financial Inc. Purchases 58,000 Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Prudential Financial Inc. raised its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 85.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 125,650 shares of the company's stock after buying an additional 58,000 shares during the period. Prudential Financial Inc. owned 0.25% of Mineralys Therapeutics worth $1,547,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its position in shares of Mineralys Therapeutics by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company's stock valued at $130,000 after buying an additional 989 shares in the last quarter. AlphaQuest LLC boosted its stake in shares of Mineralys Therapeutics by 2,637.8% in the 4th quarter. AlphaQuest LLC now owns 15,222 shares of the company's stock valued at $187,000 after purchasing an additional 14,666 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Mineralys Therapeutics by 119.0% in the 4th quarter. SG Americas Securities LLC now owns 19,961 shares of the company's stock valued at $246,000 after purchasing an additional 10,845 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Mineralys Therapeutics in the 4th quarter valued at $285,000. Finally, Verition Fund Management LLC boosted its stake in shares of Mineralys Therapeutics by 30.6% in the 3rd quarter. Verition Fund Management LLC now owns 27,361 shares of the company's stock valued at $331,000 after purchasing an additional 6,408 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

MLYS has been the topic of a number of analyst reports. The Goldman Sachs Group reduced their price objective on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. HC Wainwright increased their target price on shares of Mineralys Therapeutics from $30.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, April 2nd. Finally, Guggenheim reissued a "buy" rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th.

Mineralys Therapeutics Price Performance

Shares of MLYS stock traded down $0.56 on Thursday, hitting $12.27. The stock had a trading volume of 179,641 shares, compared to its average volume of 985,198. The business has a 50 day moving average of $12.10 and a 200 day moving average of $12.29. The stock has a market cap of $770.37 million, a price-to-earnings ratio of -3.37 and a beta of -0.39. Mineralys Therapeutics, Inc. has a 12-month low of $8.24 and a 12-month high of $18.38.

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

Insider Activity

In related news, insider David Malcom Rodman sold 55,771 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $15.76, for a total transaction of $878,950.96. Following the completion of the sale, the insider now directly owns 116,704 shares in the company, valued at $1,839,255.04. This represents a 32.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Samsara Biocapital Gp, Llc acquired 600,000 shares of Mineralys Therapeutics stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $13.50 per share, for a total transaction of $8,100,000.00. Following the completion of the transaction, the insider now owns 5,674,916 shares in the company, valued at approximately $76,611,366. This trade represents a 11.82 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 84,861 shares of company stock worth $1,142,937. 33.24% of the stock is owned by company insiders.

About Mineralys Therapeutics

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.