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

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Director Ra Capital Management, L.P. acquired 1,296,296 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $13.50 per share, with a total value of $17,499,996.00. Following the completion of the transaction, the director now owns 4,280,051 shares in the company, valued at approximately $57,780,688.50. The trade was a 43.45 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Mineralys Therapeutics Stock Down 0.2 %

MLYS traded down $0.03 on Monday, reaching $14.22. The company had a trading volume of 636,352 shares, compared to its average volume of 301,891. The stock has a market capitalization of $708.67 million, a PE ratio of -3.91 and a beta of 1.50. Mineralys Therapeutics, Inc. has a 1 year low of $8.24 and a 1 year high of $18.29. The stock has a 50-day moving average price of $10.45 and a 200-day moving average price of $11.94.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Polar Asset Management Partners Inc. acquired a new position in Mineralys Therapeutics in the third quarter valued at $490,000. Jennison Associates LLC increased its stake in shares of Mineralys Therapeutics by 55.4% during the fourth quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock worth $13,319,000 after acquiring an additional 385,726 shares during the period. Barclays PLC increased its stake in shares of Mineralys Therapeutics by 281.8% during the third quarter. Barclays PLC now owns 38,218 shares of the company’s stock worth $463,000 after acquiring an additional 28,208 shares during the period. Wellington Management Group LLP acquired a new position in shares of Mineralys Therapeutics during the third quarter worth about $775,000. Finally, State Street Corp increased its stake in shares of Mineralys Therapeutics by 4.0% during the third quarter. State Street Corp now owns 483,766 shares of the company’s stock worth $5,858,000 after acquiring an additional 18,627 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.