Profund Advisors LLC Raises Stock Position in Mineralys Therapeutics, Inc. $MLYS

Profund Advisors LLC grew its stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 548.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,024 shares of the company’s stock after acquiring an additional 39,768 shares during the period. Profund Advisors LLC’s holdings in Mineralys Therapeutics were worth $1,707,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of MLYS. AQR Capital Management LLC purchased a new position in Mineralys Therapeutics during the 1st quarter worth $550,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Mineralys Therapeutics by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock worth $271,000 after buying an additional 702 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Mineralys Therapeutics by 166.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company’s stock worth $4,739,000 after buying an additional 186,480 shares during the period. Woodline Partners LP bought a new position in shares of Mineralys Therapeutics during the 1st quarter worth $757,000. Finally, Creative Planning bought a new position in shares of Mineralys Therapeutics during the 2nd quarter worth $336,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Trading Up 9.2%

MLYS opened at $28.43 on Thursday. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -13.87 and a beta of 0.49. Mineralys Therapeutics, Inc. has a 12 month low of $12.59 and a 12 month high of $47.65. The stock has a fifty day moving average price of $27.07 and a 200-day moving average price of $32.28.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.04. On average, equities research analysts forecast that Mineralys Therapeutics, Inc. will post -2.3 EPS for the current year.

Insider Activity

In other news, Director Daphne Karydas sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $25.00, for a total value of $75,000.00. Following the sale, the director directly owned 6,200 shares in the company, valued at approximately $155,000. This trade represents a 32.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Malcom Rodman sold 14,056 shares of Mineralys Therapeutics stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $28.58, for a total transaction of $401,720.48. Following the completion of the transaction, the insider directly owned 63,443 shares in the company, valued at approximately $1,813,200.94. The trade was a 18.14% decrease in their position. 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 ninety days, insiders sold 162,291 shares of company stock valued at $4,353,683. Corporate insiders own 18.94% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. TD Cowen assumed coverage on Mineralys Therapeutics in a report on Monday, April 27th. They issued a “buy” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. Bank of America raised their target price 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. Jefferies Financial Group restated a “hold” rating and issued a $30.00 price target on shares of Mineralys Therapeutics in a report on Friday, March 13th. Finally, HC Wainwright set a $56.00 price target on shares of Mineralys Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.33.

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. 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.