Mineralys Therapeutics, Inc. $MLYS Shares Purchased by Orbimed Advisors LLC

Orbimed Advisors LLC boosted its holdings in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 109.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,052,900 shares of the company’s stock after acquiring an additional 1,072,500 shares during the period. Mineralys Therapeutics accounts for approximately 1.0% of Orbimed Advisors LLC’s investment portfolio, making the stock its 26th biggest position. Orbimed Advisors LLC owned about 2.49% of Mineralys Therapeutics worth $55,613,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC purchased a new stake in shares of Mineralys Therapeutics in the first quarter valued at approximately $550,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Mineralys Therapeutics by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock worth $271,000 after buying an additional 702 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Mineralys Therapeutics by 166.6% during the first quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company’s stock worth $4,739,000 after buying an additional 186,480 shares during the last quarter. Woodline Partners LP acquired a new position in Mineralys Therapeutics during the first quarter worth $757,000. Finally, Creative Planning purchased a new stake in Mineralys Therapeutics in the 2nd quarter valued at $336,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MLYS shares. HC Wainwright reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. TD Cowen initiated coverage on shares of Mineralys Therapeutics in a research report on Monday, April 27th. They set a “buy” rating for the company. Jefferies Financial Group reiterated a “hold” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Wall Street Zen cut shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Friday, July 17th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Mineralys Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.33.

Mineralys Therapeutics Stock Performance

Shares of NASDAQ MLYS opened at $26.71 on Monday. The stock has a market cap of $2.20 billion, a P/E ratio of -13.03 and a beta of 0.66. The business’s fifty day simple moving average is $27.05 and its 200-day simple moving average is $28.19. Mineralys Therapeutics, Inc. has a 12-month low of $12.59 and a 12-month high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last released its earnings results on Wednesday, May 6th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.04. On average, equities analysts forecast that Mineralys Therapeutics, Inc. will post -2.3 EPS for the current fiscal year.

Insider Buying and Selling

In other Mineralys Therapeutics news, CEO Jon Congleton sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $26.14, for a total transaction of $1,960,500.00. Following the completion of the transaction, the chief executive officer owned 614,321 shares in the company, valued at $16,058,350.94. The trade was a 10.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 104,124 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $25.90, for a total transaction of $2,696,811.60. Following the completion of the sale, the insider directly owned 38,400 shares in the company, valued at approximately $994,560. This represents a 73.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 230,280 shares of company stock valued at $6,018,442. Corporate insiders own 18.94% of the company’s stock.

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. 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.