RA Capital Management L.P. Grows Position in Mineralys Therapeutics, Inc. $MLYS

Key Points

• RA Capital Management L.P. increased its stake in Mineralys Therapeutics by 26.7%, owning approximately 9.48% of the company with a total value of $97.6 million.
• Institutional investors now own 84.46% of Mineralys Therapeutics, with significant increases in positions from multiple funds during the first quarter.
• The stock recently reported an EPS of ($0.66), exceeding analysts' expectations of ($0.78), and currently has a consensus target price of $34.40 among analysts.

RA Capital Management L.P. raised its holdings in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 26.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,147,280 shares of the company's stock after purchasing an additional 1,296,296 shares during the quarter. Mineralys Therapeutics accounts for approximately 1.6% of RA Capital Management L.P.'s portfolio, making the stock its 16th largest position. RA Capital Management L.P. owned about 9.48% of Mineralys Therapeutics worth $97,619,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. SR One Capital Management LP increased its stake in 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 valued at $49,672,000 after purchasing an additional 1,111,111 shares in the last quarter. Vanguard Group Inc. increased its stake in Mineralys Therapeutics by 42.1% during the 1st quarter. Vanguard Group Inc. now owns 2,035,506 shares of the company's stock valued at $32,324,000 after purchasing an additional 603,464 shares in the last quarter. Jennison Associates LLC increased its stake in Mineralys Therapeutics by 82.9% during the 1st quarter. Jennison Associates LLC now owns 1,979,033 shares of the company's stock valued at $31,427,000 after purchasing an additional 897,027 shares in the last quarter. Millennium Management LLC increased its stake in Mineralys Therapeutics by 1,015.8% during the 4th quarter. Millennium Management LLC now owns 1,101,674 shares of the company's stock valued at $13,562,000 after purchasing an additional 1,002,941 shares in the last quarter. Finally, Candriam S.C.A. increased its stake in Mineralys Therapeutics by 189.2% during the 1st quarter. Candriam S.C.A. now owns 882,833 shares of the company's stock valued at $14,019,000 after purchasing an additional 577,561 shares in the last quarter. Institutional investors own 84.46% of the company's stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 11,366 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $14.59, for a total transaction of $165,829.94. Following the transaction, the insider directly owned 97,907 shares in the company, valued at $1,428,463.13. This trade represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jon Congleton sold 15,884 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $14.51, for a total transaction of $230,476.84. Following the transaction, the chief executive officer owned 846,405 shares in the company, valued at $12,281,336.55. The trade was a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 123,051 shares of company stock worth $1,776,262. Insiders own 33.24% of the company's stock.

Mineralys Therapeutics Price Performance

Shares of MLYS traded up $1.68 during midday trading on Friday, hitting $34.80. 3,741,957 shares of the company traded hands, compared to its average volume of 2,390,572. The stock has a 50-day moving average of $15.59 and a 200-day moving average of $14.57. Mineralys Therapeutics, Inc. has a one year low of $8.24 and a one year high of $35.09. The firm has a market cap of $2.31 billion, a P/E ratio of -9.78 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) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.12. Sell-side analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 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.