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

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Director Ra Capital Management, L.P. acquired 1,296,296 shares of the stock in a transaction on Thursday, March 13th. The stock was bought 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 $57,780,688.50. This trade represents a 43.45 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Mineralys Therapeutics Stock Down 0.2 %

MLYS opened at $14.22 on Tuesday. The company has a market cap of $708.67 million, a price-to-earnings ratio of -3.91 and a beta of 1.50. Mineralys Therapeutics, Inc. has a 52-week low of $8.24 and a 52-week high of $18.29. The firm’s fifty day simple moving average is $10.45 and its two-hundred day simple moving average is $11.94.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its earnings results on Wednesday, February 12th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02. On average, research analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of hedge funds have recently modified their holdings of MLYS. Jennison Associates LLC raised its position in shares of Mineralys Therapeutics by 1.9% in the third quarter. Jennison Associates LLC now owns 696,280 shares of the company’s stock valued at $8,432,000 after buying an additional 13,023 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Mineralys Therapeutics by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 213,599 shares of the company’s stock valued at $2,587,000 after buying an additional 9,664 shares during the last quarter. FMR LLC raised its position in shares of Mineralys Therapeutics by 12.0% in the third quarter. FMR LLC now owns 303,758 shares of the company’s stock valued at $3,679,000 after buying an additional 32,663 shares during the last quarter. Martingale Asset Management L P acquired a new stake in shares of Mineralys Therapeutics in the third quarter valued at about $181,000. Finally, Verition Fund Management LLC increased its position in Mineralys Therapeutics by 30.6% during the third quarter. Verition Fund Management LLC now owns 27,361 shares of the company’s stock worth $331,000 after purchasing an additional 6,408 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MLYS shares. The Goldman Sachs Group lowered 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. Guggenheim restated a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Mineralys Therapeutics in a research note on Monday, March 10th.

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.