1,205,377 Shares in Mineralys Therapeutics, Inc. $MLYS Purchased by Holocene Advisors LP

Holocene Advisors LP purchased a new stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,205,377 shares of the company’s stock, valued at approximately $45,708,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MLYS. Simplify Asset Management Inc. bought a new stake in shares of Mineralys Therapeutics in the 3rd quarter worth approximately $8,294,000. Geode Capital Management LLC raised its holdings in shares of Mineralys Therapeutics by 19.0% during the second quarter. Geode Capital Management LLC now owns 954,560 shares of the company’s stock valued at $12,917,000 after acquiring an additional 152,560 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Mineralys Therapeutics by 29.8% during the third quarter. Vanguard Group Inc. now owns 3,018,999 shares of the company’s stock valued at $114,480,000 after acquiring an additional 692,550 shares in the last quarter. Citigroup Inc. lifted its stake in Mineralys Therapeutics by 501.7% in the third quarter. Citigroup Inc. now owns 163,168 shares of the company’s stock worth $6,187,000 after acquiring an additional 136,050 shares during the period. Finally, 22NW LP lifted its stake in Mineralys Therapeutics by 21.4% in the second quarter. 22NW LP now owns 560,042 shares of the company’s stock worth $7,577,000 after acquiring an additional 98,698 shares during the period. Institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

MLYS has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday. Stifel Nicolaus raised their target price on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. HC Wainwright set a $56.00 target price on shares of Mineralys Therapeutics and gave the company a “buy” rating in a research note on Tuesday, March 10th. Bank of America boosted their price target on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $30.00 price target on shares of Mineralys Therapeutics in a research note on Friday. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.14.

Insider Buying and Selling

In other news, CFO Adam Scott Levy sold 10,758 shares of Mineralys Therapeutics stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $32.14, for a total transaction of $345,762.12. Following the completion of the transaction, the chief financial officer directly owned 8,638 shares in the company, valued at approximately $277,625.32. This trade represents a 55.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Malcom Rodman sold 14,058 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $26.26, for a total value of $369,163.08. Following the completion of the sale, the insider directly owned 76,140 shares in the company, valued at approximately $1,999,436.40. This represents a 15.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 363,325 shares of company stock valued at $12,298,347 over the last quarter. Corporate insiders own 33.24% of the company’s stock.

Mineralys Therapeutics Trading Down 1.8%

MLYS opened at $25.73 on Tuesday. The company has a market cap of $2.12 billion, a price-to-earnings ratio of -10.86 and a beta of 0.57. The stock has a fifty day simple moving average of $30.25 and a two-hundred day simple moving average of $35.73. Mineralys Therapeutics, Inc. has a 12-month low of $10.44 and a 12-month high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results on Thursday, March 12th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.17. On average, analysts predict 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. 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.