Mineralys Therapeutics, Inc. $MLYS Shares Acquired by Pale Fire Capital SE

Key Points

• Pale Fire Capital SE increased its stock position in Mineralys Therapeutics by 191.8%, owning approximately 399,498 shares valued at $6.34 million, making it the firm’s 14th largest holding.
• Multiple institutional investors, including Candriam S.C.A. and Wellington Management Group, have also raised their stakes in Mineralys Therapeutics, indicating strong institutional interest with over 84% of the company owned by such investors.
• Research firms have set various target prices for Mineralys Therapeutics, with Guggenheim and HC Wainwright giving buy ratings and target prices of $48.00 and $42.00, respectively, while Jefferies set a lower hold rating with a $15.00 target price.

Pale Fire Capital SE increased its stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 191.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 399,498 shares of the company's stock after buying an additional 262,601 shares during the quarter. Mineralys Therapeutics comprises approximately 0.8% of Pale Fire Capital SE's holdings, making the stock its 14th largest holding. Pale Fire Capital SE owned approximately 0.62% of Mineralys Therapeutics worth $6,344,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MLYS. SBI Securities Co. Ltd. lifted its position in Mineralys Therapeutics by 297.5% in the first quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company's stock worth $25,000 after buying an additional 1,190 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Mineralys Therapeutics in the fourth quarter worth $48,000. ProShare Advisors LLC bought a new stake in Mineralys Therapeutics in the fourth quarter worth $128,000. CWM LLC lifted its position in 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. Finally, GAMMA Investing LLC lifted its position in 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. 84.46% of the stock is currently owned by institutional investors.

Mineralys Therapeutics Trading Up 0.3%

Shares of Mineralys Therapeutics stock traded up $0.04 during trading on Friday, hitting $15.26. 276,916 shares of the stock traded hands, compared to its average volume of 879,827. The firm has a market cap of $1.01 billion, a P/E ratio of -4.26 and a beta of -0.29. Mineralys Therapeutics, Inc. has a 52-week low of $8.24 and a 52-week high of $18.38. The stock's fifty day simple moving average is $14.12 and its 200 day simple moving average is $13.83.

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. As a group, equities analysts expect that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MLYS. Bank of America raised 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. Wall Street Zen upgraded Mineralys Therapeutics from a "sell" rating to a "hold" rating in a research note on Friday, August 22nd. Jefferies Financial Group started coverage on Mineralys Therapeutics in a research note on Tuesday, June 10th. They issued a "hold" rating and a $15.00 target price on the stock. Guggenheim set a $48.00 target price on Mineralys Therapeutics and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, HC Wainwright reiterated a "buy" rating and issued a $42.00 target price on shares of Mineralys Therapeutics in a research note on Wednesday, August 13th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $34.40.

Insider Activity at Mineralys Therapeutics

In related news, insider David Malcom Rodman sold 11,365 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $12.93, for a total transaction of $146,949.45. Following the sale, the insider owned 92,891 shares of the company's stock, valued at $1,201,080.63. This trade represents a 10.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jon Congleton sold 15,884 shares of the firm'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 sale, the chief executive officer directly owned 846,405 shares in the company, valued at approximately $12,281,336.55. The trade was a 1.84% 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 over the last quarter. 25.56% of the stock is owned by corporate insiders.

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.