Mineralys Therapeutics, Inc. $MLYS Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 174.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,700 shares of the company’s stock after purchasing an additional 21,400 shares during the period. Allianz Asset Management GmbH owned approximately 0.05% of Mineralys Therapeutics worth $1,278,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Ameritas Investment Partners Inc. raised its holdings in shares of Mineralys Therapeutics by 42.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,995 shares of the company’s stock worth $54,000 after purchasing an additional 1,197 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Mineralys Therapeutics during the 2nd quarter worth about $91,000. Police & Firemen s Retirement System of New Jersey raised its stake in shares of Mineralys Therapeutics by 29.4% during 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 during the last quarter. ProShare Advisors LLC acquired a new position in shares of Mineralys Therapeutics in the 2nd quarter valued at about $141,000. Finally, Arizona State Retirement System acquired a new position in shares of Mineralys Therapeutics in the 3rd quarter valued at about $402,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Mineralys Therapeutics Stock Performance

NASDAQ MLYS opened at $27.60 on Friday. The stock’s fifty day moving average is $33.89 and its two-hundred day moving average is $33.41. The firm has a market capitalization of $2.18 billion, a P/E ratio of -9.36 and a beta of 0.51. Mineralys Therapeutics, Inc. has a fifty-two week low of $8.24 and a fifty-two week high of $47.65.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Thursday, January 22nd. HC Wainwright increased their target price on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Finally, Stifel Nicolaus lifted their price target on Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Mineralys Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $47.43.

Insider Activity at Mineralys Therapeutics

In other news, insider David Malcom Rodman sold 14,055 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $27.44, for a total value of $385,669.20. Following the sale, the insider directly owned 44,089 shares of the company’s stock, valued at approximately $1,209,802.16. The trade was a 24.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jon Congleton sold 16,236 shares of the stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $32.62, for a total value of $529,618.32. Following the transaction, the chief executive officer directly owned 639,151 shares in the company, valued at approximately $20,849,105.62. The trade was a 2.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,340,331 shares of company stock worth $55,035,664. Company insiders own 25.56% of the company’s stock.

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.