Sphera Funds Management LTD. Sells 81,800 Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Sphera Funds Management LTD. cut its position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 30.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 190,672 shares of the company's stock after selling 81,800 shares during the quarter. Sphera Funds Management LTD. owned about 0.38% of Mineralys Therapeutics worth $2,347,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MLYS. BNP Paribas Financial Markets purchased a new position in Mineralys Therapeutics during the fourth quarter valued at $48,000. ProShare Advisors LLC bought a new position in shares of Mineralys Therapeutics in the 4th quarter worth about $128,000. China Universal Asset Management Co. Ltd. increased its stake 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 acquiring an additional 989 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Mineralys Therapeutics during the 4th quarter valued at about $145,000. Finally, EntryPoint Capital LLC bought a new stake in Mineralys Therapeutics during the fourth quarter worth about $154,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Mineralys Therapeutics news, Director Ra Capital Management, L.P. bought 1,296,296 shares of the company's stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $13.50 per share, for a total transaction of $17,499,996.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of the company's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $12.06, for a total transaction of $129,729.42. Following the completion of the transaction, the chief financial officer now owns 215,340 shares in the company, valued at approximately $2,597,000.40. The trade was a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,579 shares of company stock worth $1,534,353. 25.56% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MLYS shares. HC Wainwright reissued a "buy" rating and set a $42.00 price objective on shares of Mineralys Therapeutics in a research note on Tuesday, May 13th. The Goldman Sachs Group cut their price target on Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Finally, Guggenheim set a $48.00 price objective on Mineralys Therapeutics and gave the company a "buy" rating in a research report on Wednesday, May 14th.

Mineralys Therapeutics Trading Down 1.1%

NASDAQ MLYS traded down $0.19 on Wednesday, reaching $15.92. 271,482 shares of the stock were exchanged, compared to its average volume of 477,241. The company's 50-day simple moving average is $14.39 and its two-hundred day simple moving average is $12.50. The firm has a market capitalization of $1.04 billion, a PE ratio of -4.37 and a beta of -0.30. Mineralys Therapeutics, Inc. has a one year low of $8.24 and a one year 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. Sell-side analysts forecast 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.