Mineralys Therapeutics, Inc. $MLYS Shares Bought by Stempoint Capital LP

Key Points

• Stempoint Capital increased its Mineralys Therapeutics stake by 83.9% in the first quarter, adding 243,329 shares to own 533,378 shares valued at approximately $14.45 million. Institutional investors and hedge funds collectively own 84.46% of MLYS.
• MLYS shares opened at $26.35, with a market capitalization of roughly $2.17 billion. Mineralys reported a quarterly loss of $0.47 per share, beating analyst expectations for a $0.51 loss.
• Analyst sentiment remains generally positive, with six Buy ratings, one Hold, and one Sell, producing a “Moderate Buy” consensus and a $49.33 average price target. However, insiders sold 237,718 shares worth $6.22 million during the latest quarter.

Stempoint Capital LP grew its stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 83.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 533,378 shares of the company's stock after purchasing an additional 243,329 shares during the quarter. Mineralys Therapeutics makes up 2.8% of Stempoint Capital LP's portfolio, making the stock its 9th largest holding. Stempoint Capital LP owned about 0.65% of Mineralys Therapeutics worth $14,449,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in MLYS. State Street Corp boosted its position in Mineralys Therapeutics by 144.4% during the 4th quarter. State Street Corp now owns 3,184,999 shares of the company's stock valued at $115,584,000 after purchasing an additional 1,881,976 shares during the period. Price T Rowe Associates Inc. MD increased its position in Mineralys Therapeutics by 6,097.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,325,120 shares of the company's stock worth $48,089,000 after buying an additional 1,303,737 shares during the period. Janus Henderson Group PLC lifted its stake in Mineralys Therapeutics by 6,012.8% in the fourth quarter. Janus Henderson Group PLC now owns 1,213,265 shares of the company's stock valued at $44,005,000 after buying an additional 1,193,417 shares during the last quarter. RA Capital Management L.P. lifted its stake in 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 valued at $277,717,000 after buying an additional 1,176,470 shares during the last quarter. Finally, Orbimed Advisors LLC boosted its holdings in shares of Mineralys Therapeutics by 109.4% during the first quarter. Orbimed Advisors LLC now owns 2,052,900 shares of the company's stock valued at $55,613,000 after acquiring an additional 1,072,500 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Mineralys Therapeutics Stock Performance

Shares of MLYS opened at $26.35 on Thursday. Mineralys Therapeutics, Inc. has a one year low of $12.59 and a one year high of $47.65. The stock's fifty day moving average is $27.04 and its 200-day moving average is $28.02. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of -12.85 and a beta of 0.66.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.04. Analysts forecast that Mineralys Therapeutics, Inc. will post -2.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Mineralys Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. HC Wainwright reiterated a "buy" rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Weiss Ratings reissued a "sell (d-)" rating on shares of Mineralys Therapeutics in a research note on Friday, July 17th. Jefferies Financial Group restated a "hold" rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Finally, TD Cowen began coverage on shares of Mineralys Therapeutics in a research note on Monday, April 27th. They issued a "buy" rating on the stock. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.33.

Insider Activity at Mineralys Therapeutics

In other news, insider Eric Warren sold 7,438 shares of the company's stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $26.87, for a total value of $199,859.06. Following the completion of the sale, the insider directly owned 38,400 shares of the company's stock, valued at approximately $1,031,808. This represents a 16.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daphne Karydas sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $25.00, for a total transaction of $75,000.00. Following the completion of the sale, the director directly owned 6,200 shares of the company's stock, valued at approximately $155,000. This represents a 32.61% decrease in their ownership of the stock. 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 a total of 237,718 shares of company stock valued at $6,218,301 over the last quarter. Corporate insiders own 18.94% of the company's stock.

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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