Monashee Investment Management LLC Makes New Investment in Mineralys Therapeutics, Inc. $MLYS

Key Points

• Monashee Investment Management LLC has acquired a new stake in Mineralys Therapeutics, investing approximately $1.79 million for 112,457 shares, representing about 0.17% of the company.
• A significant number of institutional investors, including Wells Fargo and Renaissance Technologies, have recently increased their stakes in Mineralys Therapeutics.
• Wall Street analysts have mixed views on the stock, with HC Wainwright maintaining a "buy" rating and a target price of $42.00, while others suggest it be rated as "sell."

Monashee Investment Management LLC acquired a new stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 112,457 shares of the company's stock, valued at approximately $1,786,000. Monashee Investment Management LLC owned 0.17% of Mineralys Therapeutics as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. raised its stake in shares of Mineralys Therapeutics by 297.5% during the first quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company's stock valued at $25,000 after purchasing an additional 1,190 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Mineralys Therapeutics in the fourth quarter worth $48,000. CWM LLC increased its stake in shares of Mineralys Therapeutics by 59.3% in the first quarter. CWM LLC now owns 8,342 shares of the company's stock worth $132,000 after buying an additional 3,105 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Mineralys Therapeutics by 9,602.2% in the first quarter. GAMMA Investing LLC now owns 8,829 shares of the company's stock worth $140,000 after buying an additional 8,738 shares during the last quarter. Finally, ProShare Advisors LLC bought a new stake in shares of Mineralys Therapeutics in the fourth quarter worth $128,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on MLYS shares. HC Wainwright restated a "buy" rating and issued a $42.00 price target on shares of Mineralys Therapeutics in a research note on Wednesday, August 13th. Jefferies Financial Group started coverage on shares of Mineralys Therapeutics in a research note on Tuesday, June 10th. They issued a "hold" rating and a $15.00 price target for the company. Guggenheim set a $48.00 price target on shares of Mineralys Therapeutics and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, Wall Street Zen raised shares of Mineralys Therapeutics from a "sell" rating to a "hold" rating in a report on Friday. Three 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.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $32.25.

Insider Activity

In related news, CEO Jon Congleton sold 15,884 shares of the company's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $14.51, for a total value of $230,476.84. Following the completion of the sale, the chief executive officer owned 846,405 shares of the company's stock, valued at $12,281,336.55. This represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Adam Scott Levy sold 59,925 shares of the company's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $14.76, for a total transaction of $884,493.00. Following the completion of the sale, the chief financial officer directly owned 132,934 shares of the company's stock, valued at $1,962,105.84. The trade was a 31.07% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,051 shares of company stock valued at $1,776,262. 25.56% of the stock is currently owned by company insiders.

Mineralys Therapeutics Stock Performance

Shares of MLYS traded down $0.15 during midday trading on Monday, hitting $14.74. 1,306,884 shares of the stock traded hands, compared to its average volume of 886,135. Mineralys Therapeutics, Inc. has a 1-year low of $8.24 and a 1-year high of $18.38. The firm has a market capitalization of $977.19 million, a PE ratio of -4.14 and a beta of -0.29. The business's 50 day moving average price is $14.00 and its two-hundred day moving average price is $13.74.

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 (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.12. As a group, equities research analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

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.