Rafferty Asset Management LLC Has $1.20 Million Stake in Mineralys Therapeutics, Inc. $MLYS

Rafferty Asset Management LLC lowered its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 44.8% in the third quarter, Holdings Channel reports. The firm owned 31,685 shares of the company’s stock after selling 25,690 shares during the quarter. Rafferty Asset Management LLC’s holdings in Mineralys Therapeutics were worth $1,201,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MLYS. Orbimed Advisors LLC bought a new stake in Mineralys Therapeutics during the 2nd quarter worth about $10,288,000. Stempoint Capital LP increased its position in shares of Mineralys Therapeutics by 605.3% in the second quarter. Stempoint Capital LP now owns 631,586 shares of the company’s stock valued at $8,551,000 after acquiring an additional 756,586 shares during the last quarter. Vanguard Group Inc. raised its holdings in Mineralys Therapeutics by 29.8% during the third quarter. Vanguard Group Inc. now owns 3,018,999 shares of the company’s stock worth $114,480,000 after acquiring an additional 692,550 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in Mineralys Therapeutics during the second quarter valued at approximately $4,751,000. Finally, Prudential Financial Inc. boosted its position in Mineralys Therapeutics by 176.5% during the second quarter. Prudential Financial Inc. now owns 352,225 shares of the company’s stock valued at $4,766,000 after purchasing an additional 224,815 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, CEO Jon Congleton sold 16,236 shares of the company’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $32.62, for a total value of $529,618.32. Following the transaction, the chief executive officer directly owned 639,151 shares in the company, valued at $20,849,105.62. The trade was a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David Malcom Rodman sold 14,055 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $27.44, for a total transaction of $385,669.20. Following the completion of the transaction, the insider directly owned 44,089 shares in the company, valued at $1,209,802.16. The trade was a 24.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 340,748 shares of company stock worth $11,697,169. Company insiders own 25.56% of the company’s stock.

Wall Street Analyst Weigh In

MLYS has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Thursday, January 22nd. HC Wainwright raised their target price on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Wells Fargo & Company boosted their target price on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Finally, Stifel Nicolaus upped their price target on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Six 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, the company presently has an average rating of “Moderate Buy” and an average price target of $47.43.

Mineralys Therapeutics Stock Down 7.1%

MLYS opened at $26.72 on Friday. Mineralys Therapeutics, Inc. has a 12-month low of $9.69 and a 12-month high of $47.65. The business has a 50 day moving average of $31.54 and a 200-day moving average of $34.85. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -9.06 and a beta of 0.57.

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. The company was formerly known as Catalys SC1, Inc and changed its name to Mineralys Therapeutics, Inc in May 2020. The company was incorporated in 2019 and is headquartered in Radnor, Pennsylvania.