Mirae Asset Global Investments Co. Ltd. Raises Stake in Mineralys Therapeutics, Inc. $MLYS

Mirae Asset Global Investments Co. Ltd. grew its stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 51.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,518 shares of the company’s stock after purchasing an additional 850 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Mineralys Therapeutics were worth $34,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Mineralys Therapeutics by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock worth $271,000 after purchasing an additional 702 shares in the last quarter. AlphaQuest LLC boosted its position in Mineralys Therapeutics by 4.6% in the 1st quarter. AlphaQuest LLC now owns 15,925 shares of the company’s stock worth $253,000 after purchasing an additional 703 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in Mineralys Therapeutics by 297.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company’s stock worth $25,000 after purchasing an additional 1,190 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Mineralys Therapeutics by 3.9% in the 1st quarter. Bank of New York Mellon Corp now owns 67,868 shares of the company’s stock worth $1,078,000 after purchasing an additional 2,550 shares in the last quarter. Finally, CWM LLC boosted its position in Mineralys Therapeutics by 59.3% in the 1st quarter. CWM LLC now owns 8,342 shares of the company’s stock worth $132,000 after purchasing an additional 3,105 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Buying and Selling

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 11,367 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $36.00, for a total value of $409,212.00. Following the completion of the sale, the insider directly owned 81,524 shares of the company’s stock, valued at $2,934,864. This trade represents a 12.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Srinivas Akkaraju bought 588,235 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was bought at an average cost of $25.50 per share, with a total value of $14,999,992.50. Following the completion of the purchase, the director directly owned 588,235 shares in the company, valued at approximately $14,999,992.50. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 96,410 shares of company stock valued at $1,633,714 over the last 90 days. Insiders own 25.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wells Fargo & Company upped their price objective on Mineralys Therapeutics from $26.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Wall Street Zen upgraded Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. Jefferies Financial Group increased their target price on Mineralys Therapeutics from $15.00 to $26.00 and gave the company a “hold” rating in a research report on Wednesday, September 3rd. Bank of America increased their target price on Mineralys Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.50.

Mineralys Therapeutics Stock Performance

NASDAQ MLYS opened at $42.16 on Monday. The business has a fifty day moving average price of $27.76 and a 200 day moving average price of $19.05. Mineralys Therapeutics, Inc. has a one year low of $8.24 and a one year high of $42.71. The company has a market cap of $2.79 billion, a P/E ratio of -11.84 and a beta of 0.40.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its earnings results on Tuesday, August 12th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.12. As a group, sell-side analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal 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.