22NW LP Purchases 98,698 Shares of Mineralys Therapeutics, Inc. $MLYS

22NW LP lifted its stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 21.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 560,042 shares of the company’s stock after acquiring an additional 98,698 shares during the quarter. Mineralys Therapeutics comprises approximately 5.5% of 22NW LP’s holdings, making the stock its 6th largest position. 22NW LP owned about 0.86% of Mineralys Therapeutics worth $7,577,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Mineralys Therapeutics by 51.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock valued at $34,000 after purchasing an additional 850 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Mineralys Therapeutics by 42.8% in the second quarter. Ameritas Investment Partners Inc. now owns 3,995 shares of the company’s stock valued at $54,000 after buying an additional 1,197 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Mineralys Therapeutics in the second quarter valued at about $91,000. Quarry LP acquired a new position in Mineralys Therapeutics during the first quarter valued at approximately $111,000. Finally, Police & Firemen s Retirement System of New Jersey increased its position in shares of Mineralys Therapeutics by 29.4% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 9,234 shares of the company’s stock valued at $125,000 after buying an additional 2,098 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 200,000 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $45.44, for a total transaction of $9,088,000.00. Following the completion of the sale, the chief executive officer owned 631,305 shares in the company, valued at approximately $28,686,499.20. This represents a 24.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alexander M. Gold sold 15,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $43.98, for a total value of $659,700.00. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,416,793 shares of company stock worth $62,019,643. 33.24% of the stock is currently owned by corporate insiders.

Mineralys Therapeutics Stock Down 1.1%

Shares of MLYS opened at $38.50 on Monday. The business’s fifty day moving average is $41.24 and its 200 day moving average is $26.89. Mineralys Therapeutics, Inc. has a 12-month low of $8.24 and a 12-month high of $47.65. The stock has a market cap of $3.05 billion, a P/E ratio of -13.05 and a beta of 0.40.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.14. On average, analysts expect that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on MLYS shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Wednesday, October 8th. Bank of America boosted their price target on Mineralys Therapeutics from $38.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Wells Fargo & Company raised their target price on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. Wall Street Zen upgraded shares of Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, HC Wainwright lifted their price objective on Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.67.

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.