Mineralys Therapeutics, Inc. $MLYS Shares Bought by RA Capital Management L.P.

RA Capital Management L.P. grew its position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 26.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,147,280 shares of the company’s stock after acquiring an additional 1,296,296 shares during the quarter. Mineralys Therapeutics comprises 1.6% of RA Capital Management L.P.’s portfolio, making the stock its 16th biggest position. RA Capital Management L.P. owned about 9.48% of Mineralys Therapeutics worth $97,619,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. SR One Capital Management LP grew its stake in shares of Mineralys Therapeutics by 55.1% in the first quarter. SR One Capital Management LP now owns 3,127,933 shares of the company’s stock valued at $49,672,000 after buying an additional 1,111,111 shares in the last quarter. Millennium Management LLC lifted its position in shares of Mineralys Therapeutics by 1,015.8% during the fourth quarter. Millennium Management LLC now owns 1,101,674 shares of the company’s stock worth $13,562,000 after purchasing an additional 1,002,941 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Mineralys Therapeutics by 82.9% during the first quarter. Jennison Associates LLC now owns 1,979,033 shares of the company’s stock worth $31,427,000 after purchasing an additional 897,027 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Mineralys Therapeutics by 42.1% during the first quarter. Vanguard Group Inc. now owns 2,035,506 shares of the company’s stock worth $32,324,000 after purchasing an additional 603,464 shares in the last quarter. Finally, Candriam S.C.A. lifted its position in shares of Mineralys Therapeutics by 189.2% during the first quarter. Candriam S.C.A. now owns 882,833 shares of the company’s stock worth $14,019,000 after purchasing an additional 577,561 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Mineralys Therapeutics Stock Up 1.7%

NASDAQ:MLYS opened at $15.48 on Tuesday. The business’s 50 day moving average is $14.19 and its two-hundred day moving average is $13.96. Mineralys Therapeutics, Inc. has a 52 week low of $8.24 and a 52 week high of $18.38. The company has a market cap of $1.03 billion, a PE ratio of -4.35 and a beta of -0.29.

Mineralys Therapeutics (NASDAQ:MLYS) last released its earnings results on Tuesday, August 12th. The company reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.12. As a group, sell-side analysts expect that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on MLYS. Wall Street Zen raised shares of Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. Guggenheim set a $48.00 target price on shares of Mineralys Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Jefferies Financial Group began coverage on Mineralys Therapeutics in a report on Tuesday, June 10th. They issued a “hold” rating and a $15.00 price target for the company. Bank of America increased their price target on Mineralys Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Finally, HC Wainwright reissued a “buy” rating and issued a $42.00 price target on shares of Mineralys Therapeutics in a report on Wednesday, August 13th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.40.

Insiders Place Their Bets

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 11,366 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $14.59, for a total transaction of $165,829.94. Following the transaction, the insider owned 97,907 shares of the company’s stock, valued at $1,428,463.13. This trade represents a 10.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jon Congleton sold 15,884 shares of the stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $14.51, for a total value of $230,476.84. Following the transaction, the chief executive officer directly owned 846,405 shares in the company, valued at approximately $12,281,336.55. This represents a 1.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 123,051 shares of company stock valued at $1,776,262 in the last quarter. Insiders own 33.24% of the company’s stock.

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.