Velan Capital Investment Management LP Boosts Stock Holdings in Mineralys Therapeutics, Inc. $MLYS

by · The Cerbat Gem

Velan Capital Investment Management LP grew its position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS – Free Report) by 15.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 174,600 shares of the company’s stock after acquiring an additional 24,000 shares during the quarter. Mineralys Therapeutics comprises 2.3% of Velan Capital Investment Management LP’s holdings, making the stock its 14th largest position. Velan Capital Investment Management LP’s holdings in Mineralys Therapeutics were worth $2,362,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Mineralys Therapeutics by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock worth $271,000 after purchasing an additional 702 shares in the last quarter. AlphaQuest LLC boosted its stake in Mineralys Therapeutics by 4.6% during the 1st quarter. AlphaQuest LLC now owns 15,925 shares of the company’s stock worth $253,000 after purchasing an additional 703 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Mineralys Therapeutics by 51.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock worth $34,000 after buying an additional 850 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Mineralys Therapeutics by 42.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,995 shares of the company’s stock worth $54,000 after buying an additional 1,197 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its position in shares of Mineralys Therapeutics by 29.4% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 9,234 shares of the company’s stock valued at $125,000 after buying an additional 2,098 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Mineralys Therapeutics Stock Down 3.8%

MLYS stock opened at $36.73 on Wednesday. Mineralys Therapeutics, Inc. has a 52-week low of $8.24 and a 52-week high of $47.65. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of -12.45 and a beta of 0.40. The business has a fifty day moving average of $41.20 and a two-hundred day moving average of $27.19.

Mineralys Therapeutics (NASDAQ:MLYS – Get Free Report) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.14. As a group, sell-side analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Bank of America raised their price target on shares of Mineralys Therapeutics from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. HC Wainwright raised their target price on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. The Goldman Sachs Group upped their price target on Mineralys Therapeutics from $32.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. Jefferies Financial Group lifted their price objective on Mineralys Therapeutics from $15.00 to $26.00 and gave the stock a “hold” rating in a research report on Wednesday, September 3rd. Finally, Wells Fargo & Company boosted their price objective on Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.67.

View Our Latest Research Report on Mineralys Therapeutics

Insider Buying and Selling at Mineralys Therapeutics

In other news, Director Brian Taylor Slingsby sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $43.35, for a total value of $43,350,000.00. Following the sale, the director directly owned 7,903,838 shares of the company’s stock, valued at approximately $342,631,377.30. The trade was a 11.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Adam Scott Levy sold 119,524 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $44.88, for a total transaction of $5,364,237.12. Following the transaction, the chief financial officer directly owned 19,396 shares of the company’s stock, valued at $870,492.48. The trade was a 86.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,416,793 shares of company stock valued at $62,019,643. 33.24% of the stock is currently owned by company insiders.

Mineralys Therapeutics Company Profile

(Free Report)

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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