Mineralys Therapeutics (NASDAQ:MLYS) Director Ra Capital Management, L.P. Buys 310,700 Shares

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Director Ra Capital Management, L.P. bought 310,700 shares of the firm’s stock in a transaction dated Friday, March 27th. The shares were acquired at an average price 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 $136,510,121.07. This represents a 5.69% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Mineralys Therapeutics Stock Up 2.1%

NASDAQ MLYS opened at $26.97 on Friday. Mineralys Therapeutics, Inc. has a twelve month low of $10.44 and a twelve month high of $47.65. The stock has a market cap of $2.22 billion, a P/E ratio of -11.38 and a beta of 0.69. The company’s 50-day simple moving average is $28.00 and its 200 day simple moving average is $35.05.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data on Thursday, March 12th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.17. Research analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Bank of America upped their price target on Mineralys Therapeutics from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, March 13th. HC Wainwright set a $56.00 price objective on Mineralys Therapeutics and gave the company a “buy” rating in a report on Tuesday, March 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Thursday, January 22nd. Wall Street Zen raised shares of Mineralys Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $30.00 price target on shares of Mineralys Therapeutics in a report on Friday, March 13th. Six investment 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.14.

Institutional Investors Weigh In On Mineralys Therapeutics

Several institutional investors have recently modified their holdings of MLYS. Smartleaf Asset Management LLC lifted its holdings in Mineralys Therapeutics by 198.2% in the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock valued at $40,000 after buying an additional 676 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Mineralys Therapeutics by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock worth $271,000 after acquiring an additional 702 shares during the period. Navalign LLC acquired a new stake in Mineralys Therapeutics during the 4th quarter worth $33,000. Velan Capital Investment Management LP raised its position in shares of Mineralys Therapeutics by 0.6% during the 3rd quarter. Velan Capital Investment Management LP now owns 175,600 shares of the company’s stock valued at $6,659,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Mineralys Therapeutics by 262.3% in the 4th quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock valued at $56,000 after purchasing an additional 1,107 shares during the period. Institutional investors and hedge funds own 84.46% 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.