Erste Asset Management GmbH Buys Shares of 45,000 Mineralys Therapeutics, Inc. $MLYS

Erste Asset Management GmbH bought a new stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 45,000 shares of the company’s stock, valued at approximately $660,000.

Several other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. increased its holdings in Mineralys Therapeutics by 297.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company’s stock valued at $25,000 after buying an additional 1,190 shares during the period. Northern Trust Corp increased its holdings in Mineralys Therapeutics by 0.7% in the 4th quarter. Northern Trust Corp now owns 246,113 shares of the company’s stock valued at $3,030,000 after buying an additional 1,688 shares during the period. Bank of New York Mellon Corp increased its holdings 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 valued at $1,078,000 after buying an additional 2,550 shares during the period. CWM LLC increased its holdings in Mineralys Therapeutics by 59.3% in the 1st quarter. CWM LLC now owns 8,342 shares of the company’s stock valued at $132,000 after buying an additional 3,105 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in Mineralys Therapeutics by 19.1% in the 4th quarter. Wells Fargo & Company MN now owns 23,714 shares of the company’s stock valued at $292,000 after buying an additional 3,802 shares during the period. 84.46% of the stock is owned by institutional investors.

Mineralys Therapeutics Price Performance

NASDAQ:MLYS opened at $14.89 on Friday. The firm’s 50 day simple moving average is $14.00 and its 200 day simple moving average is $13.69. Mineralys Therapeutics, Inc. has a one year low of $8.24 and a one year high of $18.38. The company has a market cap of $987.06 million, a PE ratio of -4.18 and a beta of -0.29.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Tuesday, August 12th. The company reported ($0.66) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.12. Equities research analysts expect that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Insider Buying and Selling

In related news, CFO Adam Scott Levy sold 59,925 shares of Mineralys Therapeutics stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $14.76, for a total transaction of $884,493.00. Following the sale, the chief financial officer directly owned 132,934 shares in the company, valued at $1,962,105.84. This trade represents a 31.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jon Congleton sold 15,884 shares of Mineralys Therapeutics stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $14.51, for a total transaction of $230,476.84. Following the sale, the chief executive officer owned 846,405 shares in the company, valued at approximately $12,281,336.55. This represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 123,051 shares of company stock worth $1,776,262 in the last ninety days. Company insiders own 25.56% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MLYS shares. Wall Street Zen raised shares of Mineralys Therapeutics from a “sell” rating to a “hold” rating in a report on Friday. HC Wainwright reaffirmed a “buy” rating and set a $42.00 price target on shares of Mineralys Therapeutics in a report on Wednesday, August 13th. Guggenheim set a $48.00 price target on shares of Mineralys Therapeutics and gave the company a “buy” rating in a report on Wednesday, May 14th. Finally, Jefferies Financial Group started coverage on shares of Mineralys Therapeutics in a report on Tuesday, June 10th. They set a “hold” rating and a $15.00 price target on the stock. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.25.

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.