Wellington Management Group LLP Invests $775,000 in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Wellington Management Group LLP bought a new position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 63,998 shares of the company's stock, valued at approximately $775,000. Wellington Management Group LLP owned 0.13% of Mineralys Therapeutics at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of Mineralys Therapeutics in the third quarter worth $110,000. China Universal Asset Management Co. Ltd. grew its position in Mineralys Therapeutics by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company's stock valued at $116,000 after purchasing an additional 3,732 shares during the last quarter. Federated Hermes Inc. increased its stake in Mineralys Therapeutics by 100.0% during the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company's stock valued at $140,000 after purchasing an additional 6,000 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Mineralys Therapeutics in the second quarter worth about $145,000. Finally, PDT Partners LLC bought a new position in shares of Mineralys Therapeutics in the third quarter worth approximately $148,000. 84.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a "buy" rating and set a $30.00 price target on shares of Mineralys Therapeutics in a report on Tuesday, November 12th.

Mineralys Therapeutics Price Performance

Shares of Mineralys Therapeutics stock traded up $0.51 during trading on Friday, hitting $12.34. 512,659 shares of the company's stock traded hands, compared to its average volume of 179,117. Mineralys Therapeutics, Inc. has a 1 year low of $7.29 and a 1 year high of $16.91. The business has a 50-day simple moving average of $13.12 and a 200-day simple moving average of $12.57. The stock has a market capitalization of $614.15 million, a P/E ratio of -3.77 and a beta of 1.55.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its quarterly earnings results on Monday, November 11th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.30). During the same quarter in the previous year, the company earned ($0.57) earnings per share. On average, equities analysts predict that Mineralys Therapeutics, Inc. will post -3.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider David Malcom Rodman sold 25,482 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $15.03, for a total value of $382,994.46. Following the sale, the insider now directly owns 135,974 shares in the company, valued at $2,043,689.22. The trade was a 15.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jon Congleton sold 15,271 shares of the firm's stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $13.52, for a total value of $206,463.92. Following the completion of the sale, the chief executive officer now directly owns 895,941 shares of the company's stock, valued at $12,113,122.32. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,510 shares of company stock valued at $735,431. 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.