Candriam S.C.A. Acquires New Position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Candriam S.C.A. acquired a new stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 305,272 shares of the company’s stock, valued at approximately $3,758,000.

Several other institutional investors and hedge funds have also modified their holdings of MLYS. Jennison Associates LLC lifted its stake in shares of Mineralys Therapeutics by 55.4% during 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 period. Franklin Resources Inc. raised its stake in Mineralys Therapeutics by 17.7% during the third quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company’s stock worth $21,138,000 after purchasing an additional 262,922 shares during the period. Caligan Partners LP raised its stake in Mineralys Therapeutics by 31.6% during the third quarter. Caligan Partners LP now owns 981,155 shares of the company’s stock worth $11,882,000 after purchasing an additional 235,397 shares during the period. Ikarian Capital LLC purchased a new position in Mineralys Therapeutics during the third quarter worth approximately $2,180,000. Finally, Wellington Management Group LLP purchased a new position in Mineralys Therapeutics during the third quarter worth approximately $775,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Mineralys Therapeutics in a research note on Thursday, February 13th. Guggenheim reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th. Finally, The Goldman Sachs Group cut 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.

Insider Activity

In other news, CFO Adam Scott Levy sold 10,757 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were 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 of the company’s stock, valued at approximately $2,057,482.70. This trade represents a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jon Congleton sold 18,333 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $9.06, for a total transaction of $166,096.98. Following the sale, the chief executive officer now directly owns 877,608 shares of the company’s stock, valued at approximately $7,951,128.48. The trade was a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 33.24% of the company’s stock.

Mineralys Therapeutics Trading Down 0.2 %

Shares of MLYS stock opened at $10.52 on Friday. The company’s fifty day simple moving average is $10.26 and its 200-day simple moving average is $11.85. Mineralys Therapeutics, Inc. has a 52 week low of $8.24 and a 52 week high of $15.25. The company has a market cap of $524.27 million, a PE ratio of -2.89 and a beta of 1.50.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its earnings results on Wednesday, February 12th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02. Equities research analysts expect that Mineralys Therapeutics, Inc. will post -4.23 EPS 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.