Polar Asset Management Partners Inc. Boosts Position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Polar Asset Management Partners Inc. grew its position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 144.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,100 shares of the company's stock after purchasing an additional 58,600 shares during the quarter. Polar Asset Management Partners Inc. owned about 0.20% of Mineralys Therapeutics worth $1,220,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MLYS. BNP Paribas Financial Markets bought a new position in Mineralys Therapeutics during the 4th quarter worth approximately $48,000. ProShare Advisors LLC bought a new position in Mineralys Therapeutics during the 4th quarter worth approximately $128,000. China Universal Asset Management Co. Ltd. raised its holdings in Mineralys Therapeutics by 10.3% during 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 during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Mineralys Therapeutics during the 4th quarter worth approximately $145,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Mineralys Therapeutics during the 4th quarter worth approximately $154,000. Institutional investors own 84.46% of the company's stock.

Insider Transactions at Mineralys Therapeutics

In related news, CFO Adam Scott Levy sold 10,757 shares of the business's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $12.06, for a total value of $129,729.42. Following the sale, the chief financial officer now directly owns 215,340 shares in the company, valued at approximately $2,597,000.40. The trade was a 4.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David Malcom Rodman sold 11,366 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $15.29, for a total value of $173,786.14. Following the completion of the sale, the insider now owns 106,669 shares in the company, valued at $1,630,969.01. This represents a 9.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,579 shares of company stock worth $1,534,353 in the last ninety days. Company insiders own 25.56% of the company's stock.

Wall Street Analyst Weigh In

MLYS has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. HC Wainwright reaffirmed a "buy" rating and set a $42.00 price objective on shares of Mineralys Therapeutics in a research report on Tuesday, May 13th. Guggenheim set a $48.00 price objective on shares of Mineralys Therapeutics and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Finally, Wall Street Zen raised shares of Mineralys Therapeutics from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

Mineralys Therapeutics Trading Up 0.4%

NASDAQ MLYS traded up $0.07 during mid-day trading on Friday, hitting $15.73. The company's stock had a trading volume of 1,157,912 shares, compared to its average volume of 496,597. The company's 50 day simple moving average is $14.40 and its 200 day simple moving average is $12.62. Mineralys Therapeutics, Inc. has a twelve month low of $8.24 and a twelve month high of $18.38. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -4.32 and a beta of -0.30.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its quarterly earnings data 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, research analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current 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.