Jennison Associates LLC Increases Stock Position in Mineralys Therapeutics, Inc. $MLYS

Jennison Associates LLC grew its holdings in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 234.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,258,653 shares of the company’s stock after purchasing an additional 882,307 shares during the period. Jennison Associates LLC’s holdings in Mineralys Therapeutics were worth $45,677,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in shares of Mineralys Therapeutics by 198.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock valued at $40,000 after buying an additional 676 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Mineralys Therapeutics by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock worth $271,000 after acquiring an additional 702 shares during the period. Velan Capital Investment Management LP raised its position in Mineralys Therapeutics by 0.6% in the third quarter. Velan Capital Investment Management LP now owns 175,600 shares of the company’s stock worth $6,659,000 after acquiring an additional 1,000 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in Mineralys Therapeutics by 11.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,896 shares of the company’s stock worth $468,000 after acquiring an additional 1,275 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Mineralys Therapeutics by 50.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,846 shares of the company’s stock valued at $140,000 after acquiring an additional 1,283 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mineralys Therapeutics

In other news, CEO Jon Congleton sold 15,730 shares of the firm’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $26.83, for a total transaction of $422,035.90. Following the completion of the transaction, the chief executive officer directly owned 689,321 shares of the company’s stock, valued at $18,494,482.43. This trade represents a 2.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $27.66, for a total value of $175,585.68. Following the transaction, the insider owned 69,792 shares of the company’s stock, valued at $1,930,446.72. This represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 162,291 shares of company stock worth $4,336,414 over the last ninety days. 18.94% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. TD Cowen initiated coverage on shares of Mineralys Therapeutics in a research report on Monday. They set a “buy” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Tuesday, April 21st. Bank of America upped their target price on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. HC Wainwright set a $56.00 target price on shares of Mineralys Therapeutics and gave the company a “buy” rating in a report on Tuesday, March 10th. Finally, Wall Street Zen upgraded shares of Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.14.

Mineralys Therapeutics Stock Up 4.3%

Shares of MLYS stock opened at $26.65 on Friday. The stock has a market cap of $2.20 billion, a P/E ratio of -11.24 and a beta of 0.69. Mineralys Therapeutics, Inc. has a fifty-two week low of $12.59 and a fifty-two week high of $47.65. The business has a fifty day simple moving average of $27.11 and a 200-day simple moving average of $33.56.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.17. On average, sell-side analysts anticipate that Mineralys Therapeutics, Inc. will post -2.23 earnings per share for the current 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. The company was formerly known as Catalys SC1, Inc and changed its name to Mineralys Therapeutics, Inc in May 2020. The company was incorporated in 2019 and is headquartered in Radnor, Pennsylvania.