ADAR1 Capital Management LLC Acquires 112,140 Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

ADAR1 Capital Management LLC grew its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 15.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 841,541 shares of the company’s stock after purchasing an additional 112,140 shares during the quarter. Mineralys Therapeutics makes up 2.1% of ADAR1 Capital Management LLC’s investment portfolio, making the stock its 11th largest position. ADAR1 Capital Management LLC’s holdings in Mineralys Therapeutics were worth $10,359,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of MLYS. Jennison Associates LLC lifted its holdings in Mineralys Therapeutics by 55.4% in the 4th quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock worth $13,319,000 after purchasing an additional 385,726 shares during the last quarter. Barclays PLC lifted its position in shares of Mineralys Therapeutics by 281.8% during the 3rd quarter. Barclays PLC now owns 38,218 shares of the company’s stock worth $463,000 after purchasing an additional 28,208 shares during the last quarter. Wellington Management Group LLP bought a new stake in Mineralys Therapeutics during the 3rd quarter valued at approximately $775,000. Proficio Capital Partners LLC acquired a new stake in Mineralys Therapeutics in the 4th quarter valued at approximately $285,000. Finally, State Street Corp increased its position in Mineralys Therapeutics by 4.0% in the 3rd quarter. State Street Corp now owns 483,766 shares of the company’s stock worth $5,858,000 after buying an additional 18,627 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MLYS shares. Guggenheim reissued a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, February 24th. HC Wainwright increased their price target on shares of Mineralys Therapeutics from $30.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, April 2nd. Finally, The Goldman Sachs Group dropped their price objective on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, February 13th.

Mineralys Therapeutics Trading Down 8.4 %

Shares of NASDAQ:MLYS opened at $12.40 on Monday. The firm has a market capitalization of $778.53 million, a PE ratio of -3.41 and a beta of -0.39. Mineralys Therapeutics, Inc. has a 1-year low of $8.24 and a 1-year high of $18.38. The business’s 50 day moving average is $11.90 and its 200-day moving average is $12.29.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.00) by $0.02. On average, sell-side analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Insider Buying and Selling at Mineralys Therapeutics

In related news, Director Ra Capital Management, L.P. acquired 1,296,296 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $13.50 per share, for a total transaction of $17,499,996.00. Following the completion of the purchase, the director now directly owns 4,280,051 shares of the company’s stock, valued at $57,780,688.50. The trade was a 43.45 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Samsara Biocapital Gp, Llc bought 600,000 shares of Mineralys Therapeutics stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $13.50 per share, for a total transaction of $8,100,000.00. Following the purchase, the insider now directly owns 5,674,916 shares in the company, valued at $76,611,366. This represents a 11.82 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 84,861 shares of company stock valued at $1,142,937. 33.24% of the stock is currently owned by corporate insiders.

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.