40,500 Shares in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. bought a new stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) in the third quarter, HoldingsChannel reports. The fund bought 40,500 shares of the company’s stock, valued at approximately $490,000.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in Mineralys Therapeutics by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 982,932 shares of the company’s stock valued at $12,690,000 after purchasing an additional 4,952 shares in the last quarter. Caligan Partners LP increased its holdings in shares of Mineralys Therapeutics by 31.6% during the third quarter. Caligan Partners LP now owns 981,155 shares of the company’s stock valued at $11,882,000 after purchasing an additional 235,397 shares during the period. American Century Companies Inc. increased its holdings in shares of Mineralys Therapeutics by 3.2% during the second quarter. American Century Companies Inc. now owns 743,140 shares of the company’s stock valued at $8,695,000 after purchasing an additional 23,170 shares during the period. Jennison Associates LLC boosted its holdings in Mineralys Therapeutics by 1.9% during the third quarter. Jennison Associates LLC now owns 696,280 shares of the company’s stock worth $8,432,000 after buying an additional 13,023 shares in the last quarter. Finally, Nantahala Capital Management LLC lifted its position in shares of Mineralys Therapeutics by 60.1% in the 2nd quarter. Nantahala Capital Management LLC now owns 532,506 shares of the company’s stock valued at $6,230,000 after acquiring an additional 200,000 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Activity

In related news, CFO Adam Scott Levy sold 10,757 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $13.57, for a total transaction of $145,972.49. Following the sale, the chief financial officer now owns 236,854 shares of the company’s stock, valued at $3,214,108.78. This trade represents a 4.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David Malcom Rodman sold 25,482 shares of Mineralys Therapeutics stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $15.03, for a total value of $382,994.46. Following the completion of the sale, the insider now owns 135,974 shares of the company’s stock, valued at approximately $2,043,689.22. The trade was a 15.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,510 shares of company stock worth $735,431 over the last three months. Corporate insiders own 33.24% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Mineralys Therapeutics in a research report on Tuesday, November 12th.

Mineralys Therapeutics Stock Performance

Shares of NASDAQ:MLYS opened at $13.21 on Friday. The company has a market capitalization of $657.46 million, a PE ratio of -4.04 and a beta of 1.55. Mineralys Therapeutics, Inc. has a 52 week low of $6.38 and a 52 week high of $16.91. The company’s fifty day moving average is $13.26 and its 200-day moving average is $12.58.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Monday, November 11th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.30). During the same quarter in the previous year, the company posted ($0.57) earnings per share. On average, analysts forecast that Mineralys Therapeutics, Inc. will post -3.63 EPS for the current year.

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.