Y Intercept Hong Kong Ltd Purchases New Shares in Mineralys Therapeutics, Inc. $MLYS

Y Intercept Hong Kong Ltd acquired a new stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 21,280 shares of the company’s stock, valued at approximately $288,000.

A number of other hedge funds have also recently modified their holdings of MLYS. SBI Securities Co. Ltd. increased its stake in shares of Mineralys Therapeutics by 297.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company’s stock worth $25,000 after acquiring an additional 1,190 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Mineralys Therapeutics by 51.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock valued at $34,000 after purchasing an additional 850 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Mineralys Therapeutics in the 2nd quarter worth approximately $91,000. Quarry LP bought a new position in Mineralys Therapeutics during the 1st quarter valued at approximately $111,000. Finally, CWM LLC raised its stake in Mineralys Therapeutics by 59.3% during the first 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 last quarter. Institutional investors own 84.46% of the company’s stock.

Insider Buying and Selling

In other news, CFO Adam Scott Levy sold 10,758 shares of the stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $42.01, for a total value of $451,943.58. Following the transaction, the chief financial officer owned 116,865 shares in the company, valued at $4,909,498.65. This represents a 8.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ra Capital Management, L.P. purchased 1,176,470 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was acquired at an average price of $25.50 per share, for a total transaction of $29,999,985.00. Following the completion of the transaction, the director directly owned 5,456,521 shares of the company’s stock, valued at approximately $139,141,285.50. This trade represents a 27.49% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 58,959 shares of company stock valued at $2,098,393 over the last ninety days. 25.56% of the stock is owned by insiders.

Analyst Ratings Changes

MLYS has been the topic of a number of recent research reports. Bank of America increased their target price on Mineralys Therapeutics from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. The Goldman Sachs Group increased their price objective on shares of Mineralys Therapeutics from $32.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. HC Wainwright lifted their target price on shares of Mineralys Therapeutics from $42.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group raised their price target on shares of Mineralys Therapeutics from $15.00 to $26.00 and gave the company a “hold” rating in a research report on Wednesday, September 3rd. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.17.

Mineralys Therapeutics Stock Performance

MLYS opened at $38.02 on Friday. The company’s 50-day simple moving average is $38.52 and its two-hundred day simple moving average is $22.95. The stock has a market capitalization of $2.52 billion, a P/E ratio of -10.68 and a beta of 0.40. Mineralys Therapeutics, Inc. has a 52-week low of $8.24 and a 52-week high of $44.80.

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