ADAR1 Capital Management LLC Buys New Position in Mineralys Therapeutics, Inc. $MLYS

ADAR1 Capital Management LLC bought a new position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 298,886 shares of the company's stock, valued at approximately $8,064,000. ADAR1 Capital Management LLC owned 0.34% of Mineralys Therapeutics as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC bought a new stake in Mineralys Therapeutics during the first quarter worth approximately $550,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Mineralys Therapeutics by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company's stock valued at $271,000 after buying an additional 702 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Mineralys Therapeutics by 166.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company's stock valued at $4,739,000 after acquiring an additional 186,480 shares during the last quarter. Woodline Partners LP acquired a new stake in shares of Mineralys Therapeutics during the 1st quarter valued at $757,000. Finally, Creative Planning acquired a new stake in shares of Mineralys Therapeutics during the 2nd quarter valued at $336,000. 84.46% of the stock is currently owned by institutional investors.

Insider Activity at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 75,000 shares of Mineralys Therapeutics stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $26.14, for a total transaction of $1,960,500.00. Following the completion of the sale, the chief executive officer owned 614,321 shares of the company's stock, valued at approximately $16,058,350.94. This trade represents a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 104,124 shares of the business's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $25.90, for a total value of $2,696,811.60. Following the completion of the transaction, the insider owned 38,400 shares in the company, valued at $994,560. This trade represents a 73.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 224,333 shares of company stock valued at $5,806,213. 18.94% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MLYS shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Wall Street Zen cut Mineralys Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Jefferies Financial Group restated a "hold" rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Zacks Research downgraded Mineralys Therapeutics from a "hold" rating to a "strong sell" rating in a report on Thursday, August 13th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $49.33.

Mineralys Therapeutics Price Performance

Shares of MLYS opened at $26.34 on Wednesday. The business's 50-day moving average is $26.82 and its 200-day moving average is $27.23. The company has a debt-to-equity ratio of 0.18, a current ratio of 34.46 and a quick ratio of 34.46. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of -6.21 and a beta of 0.68. Mineralys Therapeutics, Inc. has a fifty-two week low of $14.53 and a fifty-two week high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($2.85) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($2.30). Equities research analysts expect that Mineralys Therapeutics, Inc. will post -4.45 EPS for the current fiscal year.

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.

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