Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Major Shareholder Samsara Biocapital Gp, Llc Acquires 600,000 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) major shareholder Samsara Biocapital Gp, Llc bought 600,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $13.50 per share, with a total value of $8,100,000.00. Following the completion of the acquisition, the insider now directly owns 5,674,916 shares of the company’s stock, valued at approximately $76,611,366. The trade was a 11.82 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mineralys Therapeutics Stock Down 0.2 %

Shares of Mineralys Therapeutics stock opened at $14.22 on Tuesday. The company has a market cap of $708.67 million, a price-to-earnings ratio of -3.91 and a beta of 1.50. The company’s 50 day moving average is $10.45 and its 200 day moving average is $11.94. Mineralys Therapeutics, Inc. has a twelve month low of $8.24 and a twelve month high of $18.29.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results on Wednesday, February 12th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02. Sell-side analysts expect that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MLYS shares. Guggenheim reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, February 24th. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Mineralys Therapeutics in a research report on Monday, March 10th. Finally, The Goldman Sachs Group lowered their price objective 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.

Institutional Trading of Mineralys Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. increased its holdings in Mineralys Therapeutics by 144.7% during the fourth quarter. Polar Asset Management Partners Inc. now owns 99,100 shares of the company’s stock valued at $1,220,000 after buying an additional 58,600 shares during the last quarter. Tema Etfs LLC purchased a new stake in Mineralys Therapeutics during the fourth quarter valued at approximately $1,102,000. Stempoint Capital LP purchased a new stake in Mineralys Therapeutics during the fourth quarter valued at approximately $4,925,000. ProShare Advisors LLC purchased a new stake in Mineralys Therapeutics during the fourth quarter valued at approximately $128,000. Finally, Millennium Management LLC increased its stake in shares of 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 in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.