Artia Global Partners LP lifted its position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS – Free Report) by 143.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 137,800 shares of the company’s stock after buying an additional 81,200 shares during the quarter. Mineralys Therapeutics comprises approximately 0.7% of Artia Global Partners LP’s holdings, making the stock its 21st largest position. Artia Global Partners LP’s holdings in Mineralys Therapeutics were worth $5,001,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Navalign LLC acquired a new stake in shares of Mineralys Therapeutics in the fourth quarter worth $33,000. Smartleaf Asset Management LLC lifted its stake in shares of Mineralys Therapeutics by 198.2% in the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock worth $40,000 after buying an additional 676 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Mineralys Therapeutics by 262.3% in the fourth quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock worth $56,000 after buying an additional 1,107 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Mineralys Therapeutics by 1,845.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock worth $76,000 after buying an additional 1,993 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Mineralys Therapeutics by 14,091.3% in the third quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock worth $124,000 after buying an additional 3,241 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.
Mineralys Therapeutics Stock Up 4.8%
Shares of MLYS stock opened at $25.13 on Thursday. Mineralys Therapeutics, Inc. has a 12 month low of $12.59 and a 12 month high of $47.65. The firm has a market cap of $2.07 billion, a PE ratio of -12.26 and a beta of 0.57. The stock has a 50 day moving average of $27.64 and a 200-day moving average of $30.13.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on MLYS shares. TD Cowen started coverage on shares of Mineralys Therapeutics in a research note on Monday, April 27th. They issued a “buy” rating for the company. Bank of America boosted their price objective on shares of 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 shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Jefferies Financial Group reiterated a “hold” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.
Get Our Latest Analysis on MLYS
Insider Transactions at Mineralys Therapeutics
In other news, Director Ra Capital Management, L.P. acquired 310,700 shares of the stock in a transaction dated Friday, March 27th. The shares were acquired at an average cost of $23.67 per share, for a total transaction of $7,354,269.00. Following the completion of the transaction, the director owned 5,767,221 shares in the company, valued at approximately $136,510,121.07. This trade represents a 5.69% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider David Malcom Rodman sold 14,058 shares of the company’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $26.54, for a total value of $373,099.32. Following the completion of the sale, the insider owned 76,140 shares in the company, valued at $2,020,755.60. This trade represents a 15.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 165,707 shares of company stock worth $4,383,768 over the last three months. 18.94% of the stock is currently owned by 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. 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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