Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Shares Bought by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. increased 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 Securities & Exchange Commission. The institutional investor owned 99,100 shares of the company's stock after acquiring 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.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Millennium Management LLC grew its holdings in Mineralys Therapeutics by 1,015.8% in the fourth quarter. Millennium Management LLC now owns 1,101,674 shares of the company's stock worth $13,562,000 after purchasing an additional 1,002,941 shares during the last quarter. Integral Health Asset Management LLC boosted its position in shares of Mineralys Therapeutics by 145.8% in the 4th quarter. Integral Health Asset Management LLC now owns 875,000 shares of the company's stock worth $10,771,000 after purchasing an additional 519,000 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Mineralys Therapeutics by 2,251.5% during the 4th quarter. JPMorgan Chase & Co. now owns 503,590 shares of the company's stock worth $6,199,000 after buying an additional 482,174 shares during the last quarter. Jennison Associates LLC increased its position in Mineralys Therapeutics by 55.4% during the 4th quarter. Jennison Associates LLC now owns 1,082,006 shares of the company's stock valued at $13,319,000 after buying an additional 385,726 shares in the last quarter. Finally, Candriam S.C.A. acquired a new position in Mineralys Therapeutics during the 4th quarter valued at about $3,758,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MLYS. Guggenheim set a $48.00 price target on Mineralys Therapeutics and gave the stock a "buy" rating in a report on Wednesday, May 14th. HC Wainwright reiterated a "buy" rating and issued a $42.00 target price on shares of Mineralys Therapeutics in a research note on Tuesday, May 13th. Finally, The Goldman Sachs Group dropped their target price on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th.

Insider Activity at Mineralys Therapeutics

In other news, CEO Jon Congleton sold 15,319 shares of the company's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $12.19, for a total value of $186,738.61. Following the sale, the chief executive officer now owns 862,289 shares in the company, valued at $10,511,302.91. This represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Malcom Rodman sold 55,771 shares of Mineralys Therapeutics stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $15.76, for a total value of $878,950.96. Following the transaction, the insider now owns 116,704 shares of the company's stock, valued at approximately $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 three months. Company insiders own 25.56% of the company's stock.

Mineralys Therapeutics Stock Up 3.5%

Shares of Mineralys Therapeutics stock traded up $0.56 on Wednesday, reaching $16.66. 707,835 shares of the stock were exchanged, compared to its average volume of 938,355. The business has a 50 day moving average price of $14.39 and a two-hundred day moving average price of $12.50. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -4.58 and a beta of -0.30. Mineralys Therapeutics, Inc. has a twelve month low of $8.24 and a twelve month high of $18.38.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.79) EPS for the quarter, beating the consensus estimate of ($1.02) by $0.23. 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.