Sphera Funds Management LTD. Has $3.30 Million Position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Sphera Funds Management LTD. lowered its position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 38.5% in the third quarter, HoldingsChannel.com reports. The fund owned 272,472 shares of the company’s stock after selling 170,280 shares during the quarter. Sphera Funds Management LTD.’s holdings in Mineralys Therapeutics were worth $3,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of MLYS. Caligan Partners LP increased its holdings in Mineralys Therapeutics by 31.6% in the 3rd quarter. Caligan Partners LP now owns 981,155 shares of the company’s stock valued at $11,882,000 after buying an additional 235,397 shares during the period. Nantahala Capital Management LLC boosted its position in Mineralys Therapeutics by 60.1% during the 2nd quarter. Nantahala Capital Management LLC now owns 532,506 shares of the company’s stock worth $6,230,000 after buying an additional 200,000 shares during the period. Ikarian Capital LLC acquired a new stake in Mineralys Therapeutics during the 3rd quarter worth approximately $2,180,000. Driehaus Capital Management LLC boosted its position in Mineralys Therapeutics by 40.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 257,371 shares of the company’s stock worth $3,011,000 after buying an additional 74,074 shares during the period. Finally, Polar Asset Management Partners Inc. acquired a new position in shares of Mineralys Therapeutics in the 3rd quarter worth approximately $490,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 15,271 shares of Mineralys Therapeutics stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $13.52, for a total transaction of $206,463.92. Following the completion of the transaction, the chief executive officer now directly owns 895,941 shares of the company’s stock, valued at approximately $12,113,122.32. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Malcom Rodman sold 25,482 shares of Mineralys Therapeutics stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $15.03, for a total transaction of $382,994.46. Following the sale, the insider now owns 135,974 shares of the company’s stock, valued at $2,043,689.22. The trade was a 15.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,510 shares of company stock worth $735,431. 33.24% of the stock is owned by company insiders.

Mineralys Therapeutics Stock Down 2.5 %

Shares of NASDAQ MLYS opened at $12.55 on Thursday. Mineralys Therapeutics, Inc. has a 52 week low of $6.38 and a 52 week high of $16.91. The firm’s fifty day moving average is $13.23 and its 200 day moving average is $12.58.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its earnings results on Monday, November 11th. The company reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.30). During the same period last year, the firm earned ($0.57) earnings per share. Equities research analysts expect that Mineralys Therapeutics, Inc. will post -3.63 EPS for the current fiscal year.

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.