Polar Capital Holdings Plc Buys 342,365 Shares of Mineralys Therapeutics, Inc. $MLYS

Polar Capital Holdings Plc lifted its position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 32.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,401,141 shares of the company’s stock after purchasing an additional 342,365 shares during the period. Polar Capital Holdings Plc owned about 1.77% of Mineralys Therapeutics worth $50,847,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Hudson Bay Capital Management LP bought a new stake in Mineralys Therapeutics in the 3rd quarter worth $2,873,000. SG Americas Securities LLC grew its stake in shares of Mineralys Therapeutics by 130.7% in the fourth quarter. SG Americas Securities LLC now owns 230,795 shares of the company’s stock worth $8,376,000 after purchasing an additional 130,758 shares during the last quarter. Vanguard Group Inc. increased its holdings in Mineralys Therapeutics by 29.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,018,999 shares of the company’s stock valued at $114,480,000 after purchasing an additional 692,550 shares during the period. Citigroup Inc. increased its holdings in Mineralys Therapeutics by 501.7% during the 3rd quarter. Citigroup Inc. now owns 163,168 shares of the company’s stock valued at $6,187,000 after purchasing an additional 136,050 shares during the period. Finally, Jennison Associates LLC raised its position in Mineralys Therapeutics by 234.4% during the 4th quarter. Jennison Associates LLC now owns 1,258,653 shares of the company’s stock valued at $45,677,000 after purchasing an additional 882,307 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Mineralys Therapeutics Trading Up 0.3%

NASDAQ MLYS opened at $23.99 on Wednesday. Mineralys Therapeutics, Inc. has a 12 month low of $12.59 and a 12 month high of $47.65. The stock’s fifty day moving average price is $27.71 and its 200-day moving average price is $30.26. The stock has a market cap of $1.98 billion, a P/E ratio of -11.70 and a beta of 0.57.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.04. As a group, analysts forecast that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ra Capital Management, L.P. acquired 310,700 shares of the firm’s stock in a transaction that occurred on Friday, March 27th. The stock was bought at an average cost of $23.67 per share, for a total transaction of $7,354,269.00. Following the acquisition, the director directly owned 5,767,221 shares in the company, valued at approximately $136,510,121.07. The trade was a 5.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David Malcom Rodman sold 14,058 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $26.54, for a total value of $373,099.32. Following the completion of the transaction, the insider directly owned 76,140 shares in the company, valued at $2,020,755.60. This trade represents a 15.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 148,233 shares of company stock worth $3,958,687. Corporate insiders own 18.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. HC Wainwright reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. TD Cowen started coverage on shares of Mineralys Therapeutics in a report on Monday, April 27th. They issued a “buy” rating on the stock. Bank of America boosted their price objective on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Finally, Wall Street Zen lowered shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $49.33.

About Mineralys Therapeutics

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. The company was formerly known as Catalys SC1, Inc and changed its name to Mineralys Therapeutics, Inc in May 2020. The company was incorporated in 2019 and is headquartered in Radnor, Pennsylvania.