Hudson Bay Capital Management LP Invests $2.87 Million in Mineralys Therapeutics, Inc. $MLYS

Key Points

• Hudson Bay Capital bought a new stake of 75,768 shares of Mineralys Therapeutics (NASDAQ:MLYS) in Q3, valued at about $2.87 million and representing roughly 0.10% of the company.
• Heavy institutional interest: Several large funds increased or opened positions—RA Capital holds 7.323 million shares (~$277.7M) and Farallon, Holocene, Polar and AllianceBernstein made sizable purchases—leaving institutions with about 84.46% ownership.
• Insider selling and analyst backdrop: Insiders sold 363,325 shares (~$12.3M) in the past 90 days even as the company beat quarterly EPS estimates; analysts show a “Moderate Buy” consensus with an average price target of $49.14 while the stock trades near $24 (market cap ≈ $1.98B).

Hudson Bay Capital Management LP purchased a new stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 75,768 shares of the company's stock, valued at approximately $2,873,000. Hudson Bay Capital Management LP owned approximately 0.10% of Mineralys Therapeutics at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Farallon Capital Management LLC acquired a new position in shares of Mineralys Therapeutics in the 3rd quarter valued at $63,442,000. Holocene Advisors LP purchased a new position in Mineralys Therapeutics in the third quarter valued at $45,708,000. RA Capital Management L.P. raised its position in shares of Mineralys Therapeutics by 19.1% in the third quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company's stock worth $277,717,000 after acquiring an additional 1,176,470 shares during the period. Polar Capital Holdings Plc purchased a new stake in shares of Mineralys Therapeutics during the 3rd quarter worth about $40,149,000. Finally, Alliancebernstein L.P. boosted its stake in shares of Mineralys Therapeutics by 3,160.1% during the 3rd quarter. Alliancebernstein L.P. now owns 882,415 shares of the company's stock worth $33,461,000 after acquiring an additional 855,348 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Mineralys Therapeutics Trading Up 3.4%

MLYS opened at $24.07 on Friday. Mineralys Therapeutics, Inc. has a twelve month low of $10.44 and a twelve month high of $47.65. The firm has a market capitalization of $1.98 billion, a PE ratio of -10.16 and a beta of 0.57. The firm's 50-day moving average price is $29.43 and its 200 day moving average price is $35.73.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its quarterly earnings data on Thursday, March 12th. The company reported ($0.40) EPS for the quarter, beating analysts' consensus estimates of ($0.57) by $0.17. As a group, analysts predict that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

Insider Activity at Mineralys Therapeutics

In related news, insider David Malcom Rodman sold 14,058 shares of Mineralys Therapeutics stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $26.26, for a total transaction of $369,163.08. Following the transaction, the insider owned 76,140 shares in the company, valued at approximately $1,999,436.40. This trade represents a 15.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Adam Scott Levy sold 10,758 shares of the business's stock in a transaction on Monday, January 12th. The stock was sold at an average price of $32.14, for a total value of $345,762.12. Following the transaction, the chief financial officer directly owned 8,638 shares in the company, valued at $277,625.32. This trade represents a 55.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 363,325 shares of company stock valued at $12,298,347. 25.56% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MLYS has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Mineralys Therapeutics in a report on Thursday, January 22nd. Stifel Nicolaus upped their target price on Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a "buy" rating in a research note on Friday, December 19th. Bank of America increased their target price on Mineralys Therapeutics from $46.00 to $51.00 and gave the company a "buy" rating in a research report on Friday, March 13th. Jefferies Financial Group reissued a "hold" rating and issued a $30.00 price target on shares of Mineralys Therapeutics in a research note on Friday, March 13th. Finally, Wall Street Zen raised shares of Mineralys Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, March 15th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Mineralys Therapeutics has an average rating of "Moderate Buy" and an average price target of $49.14.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.