Mineralys Therapeutics, Inc. $MLYS Shares Purchased by Nantahala Capital Management LLC

Key Points

• Nantahala Capital Management LLC increased its stake in Mineralys Therapeutics by 24.5% during the first quarter, owning approximately 1.21% of the company's shares worth $12.5 million as of the latest SEC filing.
• Insider transactions include Mineralys Therapeutics CEO, Jon Congleton, selling 15,884 shares for about $230,476, reducing his ownership by 1.84%.
• Wall Street analysts have given the stock a consensus rating of "Moderate Buy" with a target price of $34.40, reflecting optimism about the company's future financial performance.

Nantahala Capital Management LLC lifted its holdings in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 24.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 787,740 shares of the company's stock after buying an additional 155,234 shares during the quarter. Mineralys Therapeutics makes up approximately 0.5% of Nantahala Capital Management LLC's investment portfolio, making the stock its 28th largest position. Nantahala Capital Management LLC owned approximately 1.21% of Mineralys Therapeutics worth $12,509,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. SR One Capital Management LP raised its stake in shares of Mineralys Therapeutics by 55.1% during the 1st quarter. SR One Capital Management LP now owns 3,127,933 shares of the company's stock worth $49,672,000 after buying an additional 1,111,111 shares during the period. Vanguard Group Inc. raised its stake in shares of Mineralys Therapeutics by 42.1% during the 1st quarter. Vanguard Group Inc. now owns 2,035,506 shares of the company's stock worth $32,324,000 after buying an additional 603,464 shares during the period. Jennison Associates LLC raised its stake in shares of Mineralys Therapeutics by 82.9% during the 1st quarter. Jennison Associates LLC now owns 1,979,033 shares of the company's stock worth $31,427,000 after buying an additional 897,027 shares during the period. Millennium Management LLC raised its stake in shares of Mineralys Therapeutics by 1,015.8% during the 4th quarter. Millennium Management LLC now owns 1,101,674 shares of the company's stock worth $13,562,000 after buying an additional 1,002,941 shares during the period. Finally, Candriam S.C.A. increased its position in shares of Mineralys Therapeutics by 189.2% during the first quarter. Candriam S.C.A. now owns 882,833 shares of the company's stock worth $14,019,000 after purchasing an additional 577,561 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider David Malcom Rodman sold 11,366 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $14.59, for a total transaction of $165,829.94. Following the transaction, the insider owned 97,907 shares of the company's stock, valued at approximately $1,428,463.13. This represents a 10.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Adam Scott Levy sold 59,925 shares of the stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $14.76, for a total value of $884,493.00. Following the transaction, the chief financial officer directly owned 132,934 shares in the company, valued at approximately $1,962,105.84. The trade was a 31.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 123,051 shares of company stock valued at $1,776,262 in the last quarter. Insiders own 33.24% of the company's stock.

Mineralys Therapeutics Stock Performance

Shares of Mineralys Therapeutics stock traded up $3.87 during trading hours on Thursday, hitting $33.12. The company's stock had a trading volume of 4,240,844 shares, compared to its average volume of 1,038,454. Mineralys Therapeutics, Inc. has a twelve month low of $8.24 and a twelve month high of $33.50. The firm has a fifty day moving average of $15.17 and a 200-day moving average of $14.32. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -9.30 and a beta of -0.29.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.66) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.12. On average, sell-side analysts expect that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on MLYS shares. Jefferies Financial Group boosted their price target on Mineralys Therapeutics from $15.00 to $26.00 and gave the stock a "hold" rating in a research report on Wednesday. Wall Street Zen upgraded Mineralys Therapeutics from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. Guggenheim set a $48.00 price target on Mineralys Therapeutics and gave the stock a "buy" rating in a research report on Wednesday, May 14th. HC Wainwright reiterated a "buy" rating and set a $42.00 price target on shares of Mineralys Therapeutics in a research report on Wednesday, August 13th. Finally, Bank of America boosted their price target on Mineralys Therapeutics from $38.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.60.

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.