Artia Global Partners LP Invests $3.72 Million in Mineralys Therapeutics, Inc. $MLYS

Artia Global Partners LP acquired a new position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 137,800 shares of the company's stock, valued at approximately $3,718,000. Artia Global Partners LP owned about 0.16% of Mineralys Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AQR Capital Management LLC acquired a new position in shares of Mineralys Therapeutics in the first quarter worth approximately $550,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 acquiring an additional 702 shares during the last quarter. Goldman Sachs Group Inc. increased its position in 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 purchasing an additional 186,480 shares during the period. Woodline Partners LP acquired a new stake in Mineralys Therapeutics during the 1st quarter valued at approximately $757,000. Finally, Creative Planning bought a new position in Mineralys Therapeutics during the 2nd quarter worth approximately $336,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Mineralys Therapeutics Stock Down 1.7%

Shares of NASDAQ:MLYS opened at $25.89 on Thursday. Mineralys Therapeutics, Inc. has a 12-month low of $14.94 and a 12-month high of $47.65. The company has a quick ratio of 34.46, a current ratio of 34.46 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of -6.11 and a beta of 0.68. The business's 50 day moving average is $26.83 and its 200 day moving average is $27.21.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its quarterly earnings results 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). On average, sell-side analysts forecast that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider David Malcom Rodman sold 9,890 shares of the firm's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $23.81, for a total transaction of $235,480.90. Following the completion of the sale, the insider owned 57,095 shares in the company, valued at approximately $1,359,431.95. This trade represents a 14.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jon Congleton sold 75,000 shares of Mineralys Therapeutics stock in a transaction dated 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 directly owned 614,321 shares in the company, valued at approximately $16,058,350.94. This represents a 10.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 224,333 shares of company stock worth $5,806,213 over the last 90 days. Company insiders own 18.94% of the company's stock.

Wall Street Analyst Weigh In

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

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. 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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