NEOS Investment Management LLC Sells 33,969 Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

NEOS Investment Management LLC cut its holdings in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 27.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,529 shares of the company’s stock after selling 33,969 shares during the quarter. NEOS Investment Management LLC owned approximately 0.18% of Mineralys Therapeutics worth $1,102,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MLYS. Franklin Resources Inc. raised its stake in Mineralys Therapeutics by 17.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company’s stock valued at $21,138,000 after purchasing an additional 262,922 shares during the period. Vanguard Group Inc. grew its holdings in Mineralys Therapeutics by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 1,432,042 shares of the company’s stock valued at $17,628,000 after buying an additional 68,811 shares in the last quarter. Jennison Associates LLC raised its position in shares of Mineralys Therapeutics by 55.4% during the fourth quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock valued at $13,319,000 after buying an additional 385,726 shares during the last quarter. Caligan Partners LP lifted its holdings in shares of Mineralys Therapeutics by 31.6% in the third quarter. Caligan Partners LP now owns 981,155 shares of the company’s stock worth $11,882,000 after buying an additional 235,397 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Mineralys Therapeutics by 6.6% in the third quarter. Geode Capital Management LLC now owns 620,853 shares of the company’s stock worth $7,520,000 after buying an additional 38,527 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Guggenheim reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th. The Goldman Sachs Group cut their price objective on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Mineralys Therapeutics in a research report on Monday, March 10th.

Insider Buying and Selling at Mineralys Therapeutics

In other news, major shareholder Samsara Biocapital Gp, Llc acquired 600,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was bought at an average cost of $13.50 per share, with a total value of $8,100,000.00. Following the completion of the purchase, the insider now directly owns 5,674,916 shares of the company’s stock, valued at $76,611,366. This represents a 11.82 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 226,097 shares in the company, valued at $2,057,482.70. This trade represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 33.24% of the company’s stock.

Mineralys Therapeutics Stock Down 2.3 %

Mineralys Therapeutics stock opened at $14.66 on Friday. Mineralys Therapeutics, Inc. has a 52-week low of $8.24 and a 52-week high of $18.38. The firm’s fifty day moving average is $11.49 and its 200 day moving average is $12.20. The company has a market cap of $920.43 million, a price-to-earnings ratio of -4.03 and a beta of 1.50.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.00) by $0.02. On average, equities research analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 earnings per share 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.