Proficio Capital Partners LLC Buys New Shares in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Proficio Capital Partners LLC bought a new position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 23,192 shares of the company’s stock, valued at approximately $285,000.

Several other large investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Mineralys Therapeutics by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 214,906 shares of the company’s stock valued at $2,645,000 after purchasing an additional 1,307 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Mineralys Therapeutics by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 65,318 shares of the company’s stock worth $804,000 after purchasing an additional 1,711 shares in the last quarter. Jennison Associates LLC increased its holdings in Mineralys Therapeutics by 55.4% in the fourth quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock valued at $13,319,000 after buying an additional 385,726 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Mineralys Therapeutics by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company’s stock valued at $130,000 after buying an additional 989 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Mineralys Therapeutics by 119.0% during the 4th 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 during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Activity

In related news, CFO Adam Scott Levy sold 10,757 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $9.10, for a total value of $97,888.70. Following the transaction, the chief financial officer now owns 226,097 shares in the company, valued at $2,057,482.70. The trade was a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ra Capital Management, L.P. acquired 1,296,296 shares of Mineralys Therapeutics stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $13.50 per share, with a total value of $17,499,996.00. Following the completion of the purchase, the director now owns 4,280,051 shares in the company, valued at $57,780,688.50. The trade was a 43.45 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 33.24% of the company’s stock.

Mineralys Therapeutics Stock Performance

Shares of MLYS stock opened at $16.15 on Thursday. The stock’s 50-day moving average is $11.27 and its two-hundred day moving average is $12.16. Mineralys Therapeutics, Inc. has a 1 year low of $8.24 and a 1 year high of $18.38. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -4.44 and a beta of 1.50.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.02. As a group, research analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Analyst Upgrades and Downgrades

MLYS has been the topic of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Mineralys Therapeutics in a report on Monday, March 10th. The Goldman Sachs Group dropped their price target on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Guggenheim restated a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, February 24th.

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.