Geode Capital Management LLC Grows Stock Holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Geode Capital Management LLC raised its stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 6.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 620,853 shares of the company’s stock after buying an additional 38,527 shares during the quarter. Geode Capital Management LLC’s holdings in Mineralys Therapeutics were worth $7,520,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Caligan Partners LP grew its holdings in shares of Mineralys Therapeutics by 31.6% in the 3rd quarter. Caligan Partners LP now owns 981,155 shares of the company’s stock worth $11,882,000 after acquiring an additional 235,397 shares during the period. American Century Companies Inc. boosted its position in Mineralys Therapeutics by 3.2% during the second quarter. American Century Companies Inc. now owns 743,140 shares of the company’s stock worth $8,695,000 after purchasing an additional 23,170 shares in the last quarter. Jennison Associates LLC grew its holdings in Mineralys Therapeutics by 1.9% in the third quarter. Jennison Associates LLC now owns 696,280 shares of the company’s stock valued at $8,432,000 after purchasing an additional 13,023 shares during the last quarter. Nantahala Capital Management LLC increased its position in shares of Mineralys Therapeutics by 60.1% in the second quarter. Nantahala Capital Management LLC now owns 532,506 shares of the company’s stock valued at $6,230,000 after buying an additional 200,000 shares in the last quarter. Finally, State Street Corp increased its position in shares of Mineralys Therapeutics by 4.0% in the third quarter. State Street Corp now owns 483,766 shares of the company’s stock valued at $5,858,000 after buying an additional 18,627 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Mineralys Therapeutics

In other news, CEO Jon Congleton sold 15,271 shares of Mineralys Therapeutics stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $13.52, for a total transaction of $206,463.92. Following the completion of the sale, the chief executive officer now directly owns 895,941 shares in the company, valued at $12,113,122.32. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $13.57, for a total transaction of $145,972.49. Following the completion of the transaction, the chief financial officer now directly owns 236,854 shares of the company’s stock, valued at approximately $3,214,108.78. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,510 shares of company stock valued at $735,431. 33.24% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Mineralys Therapeutics Price Performance

Shares of Mineralys Therapeutics stock opened at $12.25 on Friday. Mineralys Therapeutics, Inc. has a 1 year low of $7.95 and a 1 year high of $16.91. The business has a 50 day moving average price of $12.86 and a 200 day moving average price of $12.54. The company has a market capitalization of $609.67 million, a P/E ratio of -3.75 and a beta of 1.56.

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

Mineralys Therapeutics 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.