Verition Fund Management LLC Boosts Stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Verition Fund Management LLC raised its position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 30.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,361 shares of the company’s stock after purchasing an additional 6,408 shares during the quarter. Verition Fund Management LLC owned 0.06% of Mineralys Therapeutics worth $331,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in MLYS. SG Americas Securities LLC acquired a new stake in shares of Mineralys Therapeutics in the third quarter valued at $110,000. China Universal Asset Management Co. Ltd. boosted its holdings 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 acquiring an additional 3,732 shares during the period. Federated Hermes Inc. grew its position in Mineralys Therapeutics by 100.0% in the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock valued at $140,000 after acquiring an additional 6,000 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Mineralys Therapeutics during the second quarter worth about $145,000. Finally, Martingale Asset Management L P acquired a new stake in shares of Mineralys Therapeutics during the third quarter worth about $181,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Mineralys Therapeutics Trading Down 2.2 %

Shares of NASDAQ MLYS opened at $11.90 on Friday. The stock has a market cap of $592.26 million, a P/E ratio of -3.64 and a beta of 1.55. The business’s fifty day simple moving average is $13.29 and its 200-day simple moving average is $12.59. Mineralys Therapeutics, Inc. has a 12-month low of $7.29 and a 12-month high of $16.91.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings results on Monday, November 11th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.30). During the same quarter in the prior year, the business earned ($0.57) earnings per share. On average, equities analysts forecast that Mineralys Therapeutics, Inc. will post -3.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jon Congleton sold 15,271 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 895,941 shares in the company, valued at approximately $12,113,122.32. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Malcom Rodman sold 25,482 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $15.03, for a total transaction of $382,994.46. Following the transaction, the insider now owns 135,974 shares of the company’s stock, valued at approximately $2,043,689.22. The trade was a 15.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,510 shares of company stock worth $735,431 over the last 90 days. 33.24% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Mineralys Therapeutics in a report on Tuesday, November 12th.

Mineralys Therapeutics Company 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.