Catalio Capital Management LP Takes Position in Mineralys Therapeutics, Inc. $MLYS

Key Points

• Catalio Capital Management LP opened a new position in Mineralys Therapeutics, buying 331,849 shares worth about $12.0 million in the fourth quarter. The stake represents roughly 0.42% of the company and 2.2% of Catalio’s portfolio.
• Mineralys continues to draw strong institutional interest, with 84.46% of shares held by institutional investors. Recent buyers include Vanguard, State Street, and RA Capital, among others.
• Analysts are generally positive on the stock, with a Moderate Buy consensus and a target price of $49.33. The company also recently beat earnings expectations, reporting EPS of -$0.47 versus estimates of -$0.51.

Catalio Capital Management LP bought a new stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 331,849 shares of the company's stock, valued at approximately $12,043,000. Mineralys Therapeutics accounts for about 2.2% of Catalio Capital Management LP's investment portfolio, making the stock its 20th biggest holding. Catalio Capital Management LP owned approximately 0.42% of Mineralys Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of MLYS. RA Capital Management L.P. grew its stake in Mineralys Therapeutics by 19.1% in the 3rd quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company's stock valued at $277,717,000 after buying an additional 1,176,470 shares during the last quarter. Vanguard Group Inc. grew its stake in Mineralys Therapeutics by 11.1% in the 4th quarter. Vanguard Group Inc. now owns 3,352,880 shares of the company's stock valued at $121,676,000 after buying an additional 333,881 shares during the last quarter. State Street Corp grew its stake in Mineralys Therapeutics by 144.4% in the 4th quarter. State Street Corp now owns 3,184,999 shares of the company's stock valued at $115,584,000 after buying an additional 1,881,976 shares during the last quarter. Caligan Partners LP grew its stake in Mineralys Therapeutics by 37.4% in the 3rd quarter. Caligan Partners LP now owns 2,772,654 shares of the company's stock valued at $105,139,000 after buying an additional 755,302 shares during the last quarter. Finally, Suvretta Capital Management LLC grew its stake in Mineralys Therapeutics by 22.2% in the 3rd quarter. Suvretta Capital Management LLC now owns 2,132,133 shares of the company's stock valued at $80,850,000 after buying an additional 387,641 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MLYS shares. Jefferies Financial Group restated a "hold" rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. TD Cowen started coverage on shares of Mineralys Therapeutics in a research report on Monday, April 27th. They set a "buy" rating on the stock. HC Wainwright restated a "buy" rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Bank of America increased their target price on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a "buy" rating in a research report on Friday, March 13th. Finally, Wall Street Zen lowered shares of Mineralys Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Mineralys Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.33.

Mineralys Therapeutics Price Performance

Shares of NASDAQ:MLYS opened at $25.13 on Thursday. The company has a market cap of $2.07 billion, a price-to-earnings ratio of -12.26 and a beta of 0.57. The firm has a 50 day simple moving average of $27.64 and a 200 day simple moving average of $30.13. Mineralys Therapeutics, Inc. has a one year low of $12.59 and a one year high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.51) by $0.04. As a group, analysts expect that Mineralys Therapeutics, Inc. will post -2.3 EPS for the current year.

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, CEO Jon Congleton sold 75,000 shares of the company's stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $26.27, for a total value of $1,970,250.00. Following the completion of the transaction, the chief executive officer directly owned 705,051 shares in the company, valued at approximately $18,521,689.77. This represents a 9.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Malcom Rodman sold 14,058 shares of the company's stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $26.54, for a total transaction of $373,099.32. Following the completion of the transaction, the insider owned 76,140 shares of the company's stock, valued at approximately $2,020,755.60. This trade represents a 15.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 165,707 shares of company stock valued at $4,383,768 in the last quarter. Insiders own 18.94% of the company's stock.

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. 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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