Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Shares Bought by AlphaQuest LLC

AlphaQuest LLC boosted its stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 2,637.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 15,222 shares of the company’s stock after purchasing an additional 14,666 shares during the period. AlphaQuest LLC’s holdings in Mineralys Therapeutics were worth $187,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its holdings in shares of Mineralys Therapeutics by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company’s stock worth $130,000 after buying an additional 989 shares in the last quarter. PDT Partners LLC purchased a new stake in shares of Mineralys Therapeutics during the third quarter worth $148,000. Martingale Asset Management L P purchased a new stake in shares of Mineralys Therapeutics during the third quarter worth $181,000. SG Americas Securities LLC grew its holdings in shares of Mineralys Therapeutics by 119.0% during the fourth quarter. SG Americas Securities LLC now owns 19,961 shares of the company’s stock worth $246,000 after buying an additional 10,845 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Mineralys Therapeutics during the fourth quarter worth $285,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MLYS shares. Guggenheim reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, February 24th. The Goldman Sachs Group dropped their price objective on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Mineralys Therapeutics in a report on Monday, March 10th.

Insiders Place Their Bets

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $9.10, for a total transaction of $97,888.70. Following the completion of the transaction, the chief financial officer now owns 226,097 shares of the company’s stock, valued at $2,057,482.70. This trade represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jon Congleton sold 18,333 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $9.06, for a total transaction of $166,096.98. Following the transaction, the chief executive officer now directly owns 877,608 shares of the company’s stock, valued at approximately $7,951,128.48. This trade represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. 33.24% of the stock is currently owned by insiders.

Mineralys Therapeutics Trading Up 5.6 %

Shares of MLYS opened at $14.25 on Monday. Mineralys Therapeutics, Inc. has a 12-month low of $8.24 and a 12-month high of $18.29. The firm has a 50-day moving average price of $10.42 and a 200 day moving average price of $11.93. The firm has a market capitalization of $710.16 million, a P/E ratio of -3.91 and a beta of 1.50.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.02. Equities research analysts predict that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

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.