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

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

Other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. raised its holdings in shares of Mineralys Therapeutics by 297.5% in the first quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company’s stock valued at $25,000 after acquiring an additional 1,190 shares in the last quarter. Quarry LP bought a new stake in shares of Mineralys Therapeutics in the first quarter valued at about $111,000. CWM LLC raised its holdings in shares of Mineralys Therapeutics by 59.3% in the first quarter. CWM LLC now owns 8,342 shares of the company’s stock valued at $132,000 after acquiring an additional 3,105 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Mineralys Therapeutics by 9,602.2% in the first quarter. GAMMA Investing LLC now owns 8,829 shares of the company’s stock valued at $140,000 after acquiring an additional 8,738 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Mineralys Therapeutics in the first quarter valued at about $219,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MLYS has been the subject of several recent research reports. Bank of America lifted their price objective on Mineralys Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Wednesday, October 8th. The Goldman Sachs Group lifted their price objective on Mineralys Therapeutics from $32.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. Wall Street Zen upgraded Mineralys Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 22nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $42.00 target price on shares of Mineralys Therapeutics in a report on Monday, September 8th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Mineralys Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $43.50.

Insider Transactions at Mineralys Therapeutics

In related news, CFO Adam Scott Levy sold 59,925 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $14.76, for a total value of $884,493.00. Following the sale, the chief financial officer owned 132,934 shares in the company, valued at $1,962,105.84. This represents a 31.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Srinivas Akkaraju bought 588,235 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was purchased at an average price of $25.50 per share, for a total transaction of $14,999,992.50. Following the transaction, the director owned 588,235 shares of the company’s stock, valued at $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 have sold 96,410 shares of company stock worth $1,633,714 in the last ninety days. Corporate insiders own 25.56% of the company’s stock.

Mineralys Therapeutics Stock Up 7.0%

MLYS opened at $42.16 on Monday. Mineralys Therapeutics, Inc. has a 52-week low of $8.24 and a 52-week 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. The firm’s 50-day moving average price is $27.76 and its 200-day moving average price is $19.05.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.12. On average, research analysts anticipate 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.