Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Director Ra Capital Management, L.P. Acquires 1,296,296 Shares

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Director Ra Capital Management, L.P. bought 1,296,296 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price of $13.50 per share, with a total value of $17,499,996.00. Following the completion of the transaction, the director now directly owns 4,280,051 shares of the company’s stock, valued at $57,780,688.50. This represents a 43.45 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Mineralys Therapeutics Trading Up 8.5 %

Shares of NASDAQ:MLYS opened at $15.43 on Wednesday. The stock has a market capitalization of $768.97 million, a P/E ratio of -4.24 and a beta of 1.50. The stock’s 50-day moving average price is $10.50 and its 200-day moving average price is $11.97. Mineralys Therapeutics, Inc. has a 12-month low of $8.24 and a 12-month high of $18.29.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.02. As a group, research analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. The Goldman Sachs Group dropped their price target on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Guggenheim reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Mineralys Therapeutics in a research note on Monday, March 10th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MLYS. Polar Asset Management Partners Inc. bought a new stake in Mineralys Therapeutics in the 3rd quarter worth $490,000. Jennison Associates LLC grew its stake in shares of Mineralys Therapeutics by 55.4% in the fourth 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 increased its holdings in Mineralys Therapeutics by 281.8% during the 3rd quarter. Barclays PLC now owns 38,218 shares of the company’s stock valued at $463,000 after purchasing an additional 28,208 shares during the period. Wellington Management Group LLP bought a new position in Mineralys Therapeutics during the 3rd quarter valued at approximately $775,000. Finally, State Street Corp lifted its holdings 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. 84.46% of the stock is owned by hedge funds and other institutional investors.

About Mineralys Therapeutics

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.