Polar Capital Holdings Plc grew its stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS – Free Report) by 32.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,401,141 shares of the company’s stock after acquiring an additional 342,365 shares during the quarter. Polar Capital Holdings Plc’s holdings in Mineralys Therapeutics were worth $50,847,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in MLYS. State Street Corp lifted its position in Mineralys Therapeutics by 144.4% during the fourth quarter. State Street Corp now owns 3,184,999 shares of the company’s stock valued at $115,584,000 after purchasing an additional 1,881,976 shares during the period. Farallon Capital Management LLC bought a new stake in Mineralys Therapeutics in the 3rd quarter worth approximately $63,442,000. Holocene Advisors LP bought a new stake in Mineralys Therapeutics in the 3rd quarter worth approximately $45,708,000. RA Capital Management L.P. raised its stake in Mineralys Therapeutics by 19.1% during the 3rd quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company’s stock valued at $277,717,000 after buying an additional 1,176,470 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Mineralys Therapeutics by 234.4% during the 4th quarter. Jennison Associates LLC now owns 1,258,653 shares of the company’s stock valued at $45,677,000 after buying an additional 882,307 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the company. Bank of America raised their price target on Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. Wall Street Zen cut Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Mineralys Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $49.33.
Mineralys Therapeutics Stock Performance
NASDAQ MLYS opened at $23.99 on Wednesday. The business’s fifty day moving average is $27.71 and its 200 day moving average is $30.26. Mineralys Therapeutics, Inc. has a fifty-two week low of $12.59 and a fifty-two week high of $47.65. The company has a market capitalization of $1.98 billion, a PE ratio of -11.70 and a beta of 0.57.
Mineralys Therapeutics (NASDAQ:MLYS – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.04. On average, sell-side analysts forecast that Mineralys Therapeutics, Inc. will post -2.3 EPS for the current year.
Insider Buying and Selling
In other Mineralys Therapeutics news, CEO Jon Congleton sold 75,000 shares of Mineralys Therapeutics stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $26.27, for a total transaction of $1,970,250.00. Following the transaction, the chief executive officer owned 705,051 shares of the company’s stock, valued at $18,521,689.77. The trade was a 9.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Malcom Rodman sold 14,058 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $26.54, for a total transaction of $373,099.32. Following the completion of the transaction, the insider owned 76,140 shares of the company’s stock, valued at approximately $2,020,755.60. The trade was a 15.59% 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 quarter, insiders have sold 148,233 shares of company stock valued at $3,958,687. 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.
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