Candriam S.C.A. Takes Position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Candriam S.C.A. bought a new stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 305,272 shares of the company’s stock, valued at approximately $3,758,000. Candriam S.C.A. owned about 0.61% of Mineralys Therapeutics as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. China Universal Asset Management Co. Ltd. increased its stake in shares of Mineralys Therapeutics by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company’s stock worth $130,000 after acquiring an additional 989 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Mineralys Therapeutics by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 214,906 shares of the company’s stock worth $2,645,000 after acquiring an additional 1,307 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Mineralys Therapeutics by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 65,318 shares of the company’s stock worth $804,000 after acquiring an additional 1,711 shares during the period. Verition Fund Management LLC increased its stake in shares of Mineralys Therapeutics by 30.6% during the third quarter. Verition Fund Management LLC now owns 27,361 shares of the company’s stock worth $331,000 after acquiring an additional 6,408 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Mineralys Therapeutics by 119.0% during the fourth quarter. SG Americas Securities LLC now owns 19,961 shares of the company’s stock worth $246,000 after acquiring an additional 10,845 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MLYS shares. Guggenheim reiterated a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Mineralys Therapeutics in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group lowered their target price on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th.

Insider Activity

In other news, CEO Jon Congleton sold 18,333 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $9.06, for a total value of $166,096.98. Following the sale, the chief executive officer now directly owns 877,608 shares in the company, valued at $7,951,128.48. This represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the sale, the chief financial officer now owns 226,097 shares in the company, valued at $2,057,482.70. This represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 33.24% of the company’s stock.

Mineralys Therapeutics Trading Down 0.2 %

Shares of MLYS opened at $10.52 on Friday. The firm’s 50-day moving average is $10.26 and its two-hundred day moving average is $11.85. Mineralys Therapeutics, Inc. has a twelve month low of $8.24 and a twelve month high of $15.25. The firm has a market capitalization of $524.27 million, a P/E ratio of -2.89 and a beta of 1.50.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.02. Analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

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.