Y Intercept Hong Kong Ltd Acquires New Shares in Mineralys Therapeutics, Inc. $MLYS

Y Intercept Hong Kong Ltd acquired a new position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,280 shares of the company’s stock, valued at approximately $288,000.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in Mineralys Therapeutics by 32.8% during the 1st quarter. Wellington Management Group LLP now owns 121,557 shares of the company’s stock worth $1,930,000 after acquiring an additional 30,028 shares during the period. Voya Investment Management LLC bought a new position in shares of Mineralys Therapeutics in the first quarter worth $255,000. Strs Ohio purchased a new stake in shares of Mineralys Therapeutics in the first quarter worth $359,000. 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 valued at $4,739,000 after buying an additional 186,480 shares during the period. Finally, Allianz Asset Management GmbH bought a new stake in Mineralys Therapeutics during the second quarter valued at $166,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Activity

In related news, Director Srinivas Akkaraju acquired 588,235 shares of Mineralys Therapeutics stock in a transaction on Thursday, September 4th. The shares were acquired at an average cost of $25.50 per share, with a total value of $14,999,992.50. Following the transaction, the director owned 588,235 shares in the company, valued at $14,999,992.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Adam Scott Levy sold 10,758 shares of the company’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $42.01, for a total transaction of $451,943.58. Following the completion of the transaction, the chief financial officer owned 116,865 shares of the company’s stock, valued at $4,909,498.65. This trade represents a 8.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 58,959 shares of company stock valued at $2,098,393. 25.56% of the stock is owned by insiders.

Mineralys Therapeutics Stock Up 2.7%

NASDAQ:MLYS opened at $38.02 on Friday. The firm has a market capitalization of $2.52 billion, a P/E ratio of -10.68 and a beta of 0.40. The company has a fifty day moving average of $38.52 and a 200 day moving average of $22.95. Mineralys Therapeutics, Inc. has a 52 week low of $8.24 and a 52 week high of $44.80.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.66) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.12. As a group, analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on MLYS shares. Wall Street Zen raised shares of Mineralys Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 22nd. HC Wainwright lifted their price target on shares of Mineralys Therapeutics from $42.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. The Goldman Sachs Group boosted their price objective on shares of Mineralys Therapeutics from $32.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. Bank of America increased their target price on shares of Mineralys Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Finally, Jefferies Financial Group boosted their price target on shares of Mineralys Therapeutics from $15.00 to $26.00 and gave the stock a “hold” rating in a research note on Wednesday, September 3rd. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.17.

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.