Jennison Associates LLC Has $13.32 Million Holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Jennison Associates LLC increased its position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 55.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,082,006 shares of the company’s stock after purchasing an additional 385,726 shares during the period. Jennison Associates LLC’s holdings in Mineralys Therapeutics were worth $13,319,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Franklin Resources Inc. lifted its holdings in shares of Mineralys Therapeutics by 17.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company’s stock worth $21,138,000 after acquiring an additional 262,922 shares during the period. Caligan Partners LP lifted its stake in Mineralys Therapeutics by 31.6% during the third quarter. Caligan Partners LP now owns 981,155 shares of the company’s stock worth $11,882,000 after purchasing an additional 235,397 shares during the period. Ikarian Capital LLC acquired a new stake in Mineralys Therapeutics during the third quarter valued at approximately $2,180,000. Wellington Management Group LLP acquired a new stake in Mineralys Therapeutics during the third quarter valued at approximately $775,000. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Mineralys Therapeutics in the 3rd quarter valued at approximately $490,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Mineralys Therapeutics news, CEO Jon Congleton sold 18,333 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $9.06, for a total value of $166,096.98. Following the completion of the transaction, the chief executive officer now directly owns 877,608 shares of the company’s stock, valued at approximately $7,951,128.48. The trade was a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Adam Scott Levy sold 10,757 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $9.10, for a total transaction of $97,888.70. Following the sale, the chief financial officer now directly owns 226,097 shares in the company, valued at $2,057,482.70. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 33.24% of the company’s stock.

Mineralys Therapeutics Stock Up 0.5 %

Shares of MLYS stock opened at $10.26 on Thursday. The company has a market capitalization of $510.64 million, a P/E ratio of -3.14 and a beta of 1.44. Mineralys Therapeutics, Inc. has a 12-month low of $8.58 and a 12-month high of $16.91. The firm has a 50-day moving average price of $11.57 and a 200 day moving average price of $12.17.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Monday, November 11th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.30). During the same quarter in the prior year, the company posted ($0.57) EPS. As a group, research analysts expect that Mineralys Therapeutics, Inc. will post -3.63 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.