Mineralys Therapeutics, Inc. $MLYS Stake Boosted by American Century Companies Inc.

American Century Companies Inc. boosted its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 879,682 shares of the company’s stock after purchasing an additional 44,901 shares during the quarter. American Century Companies Inc. owned approximately 1.33% of Mineralys Therapeutics worth $33,358,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MLYS. Vanguard Group Inc. grew its stake in Mineralys Therapeutics by 29.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,018,999 shares of the company’s stock worth $114,480,000 after buying an additional 692,550 shares during the last quarter. Franklin Resources Inc. boosted its stake in Mineralys Therapeutics by 1.3% during the 2nd quarter. Franklin Resources Inc. now owns 1,803,597 shares of the company’s stock valued at $24,403,000 after purchasing an additional 23,556 shares in the last quarter. Geode Capital Management LLC boosted its stake in Mineralys Therapeutics by 19.0% during the second quarter. Geode Capital Management LLC now owns 954,560 shares of the company’s stock valued at $12,917,000 after buying an additional 152,560 shares in the last quarter. Orbimed Advisors LLC acquired a new position in shares of Mineralys Therapeutics in the 2nd quarter worth approximately $10,288,000. Finally, Stempoint Capital LP grew its position in Mineralys Therapeutics by 605.3% in the second quarter. Stempoint Capital LP now owns 631,586 shares of the company’s stock worth $8,551,000 after buying an additional 756,586 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

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

Mineralys Therapeutics Stock Performance

Shares of NASDAQ:MLYS opened at $26.59 on Friday. The company has a market capitalization of $2.10 billion, a PE ratio of -9.01 and a beta of 0.57. Mineralys Therapeutics, Inc. has a 52 week low of $10.19 and a 52 week high of $47.65. The company’s fifty day moving average is $31.33 and its 200-day moving average is $35.07.

Insider Transactions at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 16,236 shares of the stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $32.62, for a total transaction of $529,618.32. Following the sale, the chief executive officer directly owned 639,151 shares in the company, valued at $20,849,105.62. This represents a 2.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Malcom Rodman sold 192,715 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $35.02, for a total value of $6,748,879.30. Following the sale, the insider owned 61,804 shares in the company, valued at $2,164,376.08. The trade was a 75.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 340,748 shares of company stock valued at $11,697,169 in the last three months. 25.56% of the stock is owned by corporate insiders.

About Mineralys Therapeutics

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.