Franklin Resources Inc. Buys 262,922 Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Franklin Resources Inc. grew its position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 17.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,745,513 shares of the company’s stock after buying an additional 262,922 shares during the quarter. Franklin Resources Inc.’s holdings in Mineralys Therapeutics were worth $21,138,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Mineralys Therapeutics during the 3rd quarter worth $110,000. China Universal Asset Management Co. Ltd. boosted its position in Mineralys Therapeutics by 64.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock valued at $116,000 after buying an additional 3,732 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Mineralys Therapeutics by 100.0% in the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock valued at $140,000 after acquiring an additional 6,000 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Mineralys Therapeutics during the 2nd quarter worth $145,000. Finally, PDT Partners LLC bought a new position in Mineralys Therapeutics in the third quarter valued at about $148,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Mineralys Therapeutics in a research report on Tuesday, November 12th.

Mineralys Therapeutics Stock Performance

Shares of MLYS opened at $11.83 on Friday. The firm has a market cap of $588.77 million, a PE ratio of -3.62 and a beta of 1.55. Mineralys Therapeutics, Inc. has a 52-week low of $7.29 and a 52-week high of $16.91. The business’s 50 day moving average price is $13.12 and its two-hundred day moving average price is $12.57.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its earnings results on Monday, November 11th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.30). During the same quarter in the prior year, the business posted ($0.57) earnings per share. Research analysts predict that Mineralys Therapeutics, Inc. will post -3.63 EPS for the current fiscal year.

Insider Buying and Selling at Mineralys Therapeutics

In related news, insider David Malcom Rodman sold 25,482 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $15.03, for a total transaction of $382,994.46. Following the transaction, the insider now directly owns 135,974 shares in the company, valued at approximately $2,043,689.22. The trade was a 15.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jon Congleton sold 15,271 shares of Mineralys Therapeutics stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $13.52, for a total transaction of $206,463.92. Following the transaction, the chief executive officer now directly owns 895,941 shares in the company, valued at approximately $12,113,122.32. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,510 shares of company stock valued at $735,431. Corporate insiders own 33.24% of the company’s stock.

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.