Polar Asset Management Partners Inc. Raises Stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Polar Asset Management Partners Inc. increased its position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 144.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,100 shares of the company's stock after purchasing an additional 58,600 shares during the period. Polar Asset Management Partners Inc. owned 0.20% of Mineralys Therapeutics worth $1,220,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MLYS. BNP Paribas Financial Markets purchased a new stake in shares of Mineralys Therapeutics in the 4th quarter worth about $48,000. ProShare Advisors LLC bought a new position in shares of Mineralys Therapeutics during the fourth quarter valued at approximately $128,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Mineralys Therapeutics by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company's stock worth $130,000 after purchasing an additional 989 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in Mineralys Therapeutics during the 4th quarter valued at approximately $145,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Mineralys Therapeutics in the fourth quarter worth $154,000. Institutional investors own 84.46% of the company's stock.

Mineralys Therapeutics Trading Down 0.5%

MLYS traded down $0.08 on Friday, hitting $15.58. 1,157,912 shares of the company's stock traded hands, compared to its average volume of 493,776. The company's 50 day simple moving average is $14.42 and its 200-day simple moving average is $12.60. Mineralys Therapeutics, Inc. has a one year low of $8.24 and a one year high of $18.38. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -4.28 and a beta of -0.30.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.79) earnings per share for the quarter, beating the consensus estimate of ($1.02) by $0.23. As a group, equities analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Insider Buying and Selling at Mineralys Therapeutics

In other news, CFO Adam Scott Levy sold 10,757 shares of the business's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $12.06, for a total transaction of $129,729.42. Following the sale, the chief financial officer now directly owns 215,340 shares of the company's stock, valued at $2,597,000.40. The trade was a 4.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David Malcom Rodman sold 55,771 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $15.76, for a total transaction of $878,950.96. Following the transaction, the insider now owns 116,704 shares of the company's stock, valued at $1,839,255.04. This represents a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,579 shares of company stock worth $1,534,353 over the last 90 days. Company insiders own 25.56% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MLYS shares. The Goldman Sachs Group dropped their price target on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. HC Wainwright reaffirmed a "buy" rating and set a $42.00 price target on shares of Mineralys Therapeutics in a report on Tuesday, May 13th. Wall Street Zen upgraded Mineralys Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Guggenheim set a $48.00 price target on shares of Mineralys Therapeutics and gave the company a "buy" rating in a report on Wednesday, May 14th.

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.