Voya Investment Management LLC Grows Position in Mineralys Therapeutics, Inc. $MLYS

Voya Investment Management LLC raised its position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 174.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,526 shares of the company’s stock after acquiring an additional 88,050 shares during the period. Voya Investment Management LLC owned approximately 0.21% of Mineralys Therapeutics worth $5,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Mineralys Therapeutics by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock valued at $271,000 after purchasing an additional 702 shares in the last quarter. AlphaQuest LLC lifted its position in Mineralys Therapeutics by 4.6% during the first quarter. AlphaQuest LLC now owns 15,925 shares of the company’s stock valued at $253,000 after purchasing an additional 703 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Mineralys Therapeutics by 51.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock worth $34,000 after buying an additional 850 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Mineralys Therapeutics by 42.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,995 shares of the company’s stock worth $54,000 after buying an additional 1,197 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Mineralys Therapeutics by 29.4% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 9,234 shares of the company’s stock worth $125,000 after buying an additional 2,098 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MLYS has been the subject of a number of analyst reports. Bank of America increased their price target on shares of Mineralys Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 28th. The Goldman Sachs Group upped their price objective on Mineralys Therapeutics from $32.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Wednesday, October 8th. HC Wainwright lifted their target price on Mineralys Therapeutics from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Finally, Stifel Nicolaus increased their price target on Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a report on Friday, December 19th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.43.

Insider Activity

In other news, CEO Jon Congleton sold 200,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $45.44, for a total value of $9,088,000.00. Following the transaction, the chief executive officer directly owned 631,305 shares in the company, valued at approximately $28,686,499.20. This represents a 24.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Brian Taylor Slingsby sold 1,000,000 shares of Mineralys Therapeutics stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $43.35, for a total transaction of $43,350,000.00. Following the sale, the director owned 7,903,838 shares of the company’s stock, valued at $342,631,377.30. The trade was a 11.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,405,426 shares of company stock valued at $61,610,431. Insiders own 25.56% of the company’s stock.

Mineralys Therapeutics Stock Performance

MLYS opened at $37.44 on Friday. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -12.69 and a beta of 0.40. The stock’s 50 day moving average price is $40.33 and its 200-day moving average price is $28.78. Mineralys Therapeutics, Inc. has a one year low of $8.24 and a one year high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.14. As a group, analysts predict that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

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.