Wellington Management Group LLP Raises Position in Mineralys Therapeutics, Inc. $MLYS

Wellington Management Group LLP boosted its stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 32.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,557 shares of the company’s stock after buying an additional 30,028 shares during the quarter. Wellington Management Group LLP owned approximately 0.19% of Mineralys Therapeutics worth $1,930,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. lifted its stake in Mineralys Therapeutics by 297.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company’s stock valued at $25,000 after buying an additional 1,190 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Mineralys Therapeutics in the 4th quarter valued at about $48,000. CWM LLC raised its holdings in Mineralys Therapeutics by 59.3% in the 1st quarter. CWM LLC now owns 8,342 shares of the company’s stock valued at $132,000 after acquiring an additional 3,105 shares during the last quarter. GAMMA Investing LLC raised its holdings in Mineralys Therapeutics by 9,602.2% in the 1st quarter. GAMMA Investing LLC now owns 8,829 shares of the company’s stock valued at $140,000 after acquiring an additional 8,738 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new stake in Mineralys Therapeutics in the 4th quarter valued at about $128,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Mineralys Therapeutics

In other news, CEO Jon Congleton sold 15,884 shares of the firm’s stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $14.51, for a total transaction of $230,476.84. Following the completion of the sale, the chief executive officer owned 846,405 shares in the company, valued at $12,281,336.55. This trade represents a 1.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Adam Scott Levy sold 59,925 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $14.76, for a total transaction of $884,493.00. Following the sale, the chief financial officer owned 132,934 shares of the company’s stock, valued at $1,962,105.84. This represents a 31.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 123,051 shares of company stock worth $1,776,262 in the last 90 days. Insiders own 25.56% of the company’s stock.

Mineralys Therapeutics Price Performance

Shares of NASDAQ MLYS opened at $15.48 on Friday. The company has a 50 day simple moving average of $14.16 and a 200-day simple moving average of $13.89. The company has a market capitalization of $1.03 billion, a P/E ratio of -4.35 and a beta of -0.29. Mineralys Therapeutics, Inc. has a 1 year low of $8.24 and a 1 year high of $18.38.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.12. As a group, research analysts expect that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on MLYS. HC Wainwright reiterated a “buy” rating and issued a $42.00 price objective on shares of Mineralys Therapeutics in a report on Wednesday, August 13th. Wall Street Zen upgraded shares of Mineralys Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 22nd. Jefferies Financial Group began coverage on shares of Mineralys Therapeutics in a report on Tuesday, June 10th. They issued a “hold” rating and a $15.00 price objective for the company. Bank of America increased their price objective on shares of Mineralys Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a report on Thursday. Finally, Guggenheim set a $48.00 price objective on shares of Mineralys Therapeutics and gave the company a “buy” rating in a report on Wednesday, May 14th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.40.

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.