Bank of New York Mellon Corp Raises Stock Holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Bank of New York Mellon Corp grew its stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 72.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,762 shares of the company’s stock after buying an additional 35,634 shares during the period. Bank of New York Mellon Corp’s holdings in Mineralys Therapeutics were worth $992,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MLYS. Catalys Pacific LLC bought a new stake in Mineralys Therapeutics during the 4th quarter worth approximately $79,073,000. Franklin Resources Inc. increased its stake in shares of Mineralys Therapeutics by 55.4% in the fourth quarter. Franklin Resources Inc. now owns 699,467 shares of the company’s stock worth $6,015,000 after purchasing an additional 249,450 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Mineralys Therapeutics by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 982,932 shares of the company’s stock valued at $12,690,000 after purchasing an additional 4,952 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Mineralys Therapeutics by 17,821.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,122 shares of the company’s stock valued at $35,000 after buying an additional 4,099 shares in the last quarter. Finally, NEOS Investment Management LLC purchased a new position in shares of Mineralys Therapeutics during the 4th quarter valued at $206,000. 84.46% of the stock is currently owned by institutional investors.

Mineralys Therapeutics Trading Down 3.2 %

NASDAQ MLYS opened at $11.71 on Friday. Mineralys Therapeutics, Inc. has a 12 month low of $5.85 and a 12 month high of $16.91. The stock has a market cap of $581.39 million, a PE ratio of -5.35 and a beta of 1.93. The stock’s 50 day moving average is $12.01 and its 200 day moving average is $12.46.

Mineralys Therapeutics (NASDAQ:MLYS) last released its earnings results on Tuesday, August 13th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.10). During the same period in the previous year, the firm earned ($0.31) EPS. On average, analysts forecast that Mineralys Therapeutics, Inc. will post -3.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Mineralys Therapeutics in a report on Thursday, August 15th.

Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $13.14, for a total transaction of $141,346.98. Following the completion of the transaction, the chief financial officer now owns 247,611 shares of the company’s stock, valued at approximately $3,253,608.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $13.14, for a total value of $141,346.98. Following the sale, the chief financial officer now directly owns 247,611 shares of the company’s stock, valued at $3,253,608.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Taylor Slingsby sold 550,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $13.05, for a total value of $7,177,500.00. Following the completion of the sale, the director now owns 8,644,579 shares in the company, valued at $112,811,755.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 577,028 shares of company stock worth $7,536,774. Insiders own 33.24% of the company’s stock.

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.