Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Shares Purchased by Caligan Partners LP

Caligan Partners LP raised its position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,011,155 shares of the company's stock after purchasing an additional 30,000 shares during the period. Mineralys Therapeutics accounts for approximately 3.3% of Caligan Partners LP's portfolio, making the stock its 10th largest holding. Caligan Partners LP owned 2.03% of Mineralys Therapeutics worth $12,447,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC increased its holdings in shares of Mineralys Therapeutics by 55.4% in the fourth quarter. Jennison Associates LLC now owns 1,082,006 shares of the company's stock worth $13,319,000 after purchasing an additional 385,726 shares during the period. Barclays PLC grew its holdings in shares of Mineralys Therapeutics by 281.8% during the 3rd quarter. Barclays PLC now owns 38,218 shares of the company's stock worth $463,000 after acquiring an additional 28,208 shares during the period. Wellington Management Group LLP boosted its stake in Mineralys Therapeutics by 43.0% in the 4th quarter. Wellington Management Group LLP now owns 91,529 shares of the company's stock worth $1,127,000 after purchasing an additional 27,531 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Mineralys Therapeutics in the 4th quarter worth $285,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Mineralys Therapeutics by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 214,906 shares of the company's stock worth $2,645,000 after acquiring an additional 1,307 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MLYS has been the subject of a number of 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 note on Thursday, February 13th. Guggenheim restated a "buy" rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th. Finally, HC Wainwright increased their price objective on shares of Mineralys Therapeutics from $30.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, April 2nd.

Insider Activity

In other news, major shareholder Samsara Biocapital Gp, Llc purchased 600,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $13.50 per share, with a total value of $8,100,000.00. Following the purchase, the insider now directly owns 5,674,916 shares of the company's stock, valued at approximately $76,611,366. This represents a 11.82 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ra Capital Management, L.P. purchased 1,296,296 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost of $13.50 per share, with a total value of $17,499,996.00. Following the transaction, the director now directly owns 4,280,051 shares of the company's stock, valued at approximately $57,780,688.50. This represents a 43.45 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 93,213 shares of company stock worth $1,360,567 over the last 90 days. 33.24% of the stock is currently owned by corporate insiders.

Mineralys Therapeutics Stock Performance

Shares of MLYS traded down $1.40 during midday trading on Tuesday, hitting $14.23. The company had a trading volume of 591,762 shares, compared to its average volume of 925,300. Mineralys Therapeutics, Inc. has a 1 year low of $8.24 and a 1 year high of $18.38. The company's 50-day simple moving average is $13.55 and its 200-day simple moving average is $12.38. The firm has a market capitalization of $923.19 million, a P/E ratio of -3.91 and a beta of -0.30.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.00) by $0.02. Equities analysts predict that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal 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.