Stempoint Capital LP Purchases 243,329 Shares of Mineralys Therapeutics, Inc. $MLYS

Stempoint Capital LP boosted its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 83.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 533,378 shares of the company’s stock after acquiring an additional 243,329 shares during the quarter. Mineralys Therapeutics comprises about 2.8% of Stempoint Capital LP’s investment portfolio, making the stock its 9th biggest holding. Stempoint Capital LP’s holdings in Mineralys Therapeutics were worth $14,449,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of MLYS. Jennison Associates LLC lifted its stake in Mineralys Therapeutics by 234.4% during the fourth 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. TimesSquare Capital Management LLC acquired a new position in Mineralys Therapeutics in the fourth quarter worth approximately $13,794,000. UBS Group AG grew its position in Mineralys Therapeutics by 124.9% in the fourth quarter. UBS Group AG now owns 201,280 shares of the company’s stock worth $7,304,000 after buying an additional 111,776 shares during the last quarter. Profund Advisors LLC increased its holdings in shares of Mineralys Therapeutics by 548.1% in the fourth quarter. Profund Advisors LLC now owns 47,024 shares of the company’s stock valued at $1,707,000 after buying an additional 39,768 shares in the last quarter. Finally, Artia Global Partners LP increased its holdings in shares of Mineralys Therapeutics by 143.5% in the fourth quarter. Artia Global Partners LP now owns 137,800 shares of the company’s stock valued at $5,001,000 after buying an additional 81,200 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MLYS has been the subject of several research reports. Wall Street Zen lowered Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. TD Cowen started coverage on Mineralys Therapeutics in a research report on Monday, April 27th. They set a “buy” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Jefferies Financial Group reiterated a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Finally, HC Wainwright reissued a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Six research analysts have rated the stock with a Buy rating, one has given 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 a consensus rating of “Moderate Buy” and a consensus price target of $49.33.

Mineralys Therapeutics Price Performance

MLYS stock opened at $26.35 on Thursday. Mineralys Therapeutics, Inc. has a 52-week low of $12.59 and a 52-week high of $47.65. The company’s 50 day simple moving average is $27.04 and its 200-day simple moving average is $28.02. The firm has a market capitalization of $2.17 billion, a P/E ratio of -12.85 and a beta of 0.66.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.04. Sell-side analysts predict that Mineralys Therapeutics, Inc. will post -2.3 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jon Congleton sold 75,000 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $26.14, for a total value of $1,960,500.00. Following the completion of the sale, the chief executive officer directly owned 614,321 shares of the company’s stock, valued at approximately $16,058,350.94. This represents a 10.88% decrease in their position. The sale was disclosed in a legal 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 Eric Warren sold 104,124 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $25.90, for a total value of $2,696,811.60. Following the sale, the insider owned 38,400 shares of the company’s stock, valued at $994,560. The trade was a 73.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 237,718 shares of company stock worth $6,218,301. 18.94% of the stock is owned by corporate insiders.

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.