BlueCrest Capital Management Ltd Takes $2.30 Million Position in Mineralys Therapeutics, Inc. $MLYS

BlueCrest Capital Management Ltd bought a new stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 85,157 shares of the company’s stock, valued at approximately $2,298,000. BlueCrest Capital Management Ltd owned about 0.10% of Mineralys Therapeutics at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MLYS. WINTON GROUP Ltd bought a new position in Mineralys Therapeutics during the 2nd quarter worth approximately $912,000. Arizona State Retirement System boosted its stake in shares of Mineralys Therapeutics by 22.4% during the second quarter. Arizona State Retirement System now owns 15,357 shares of the company’s stock valued at $414,000 after purchasing an additional 2,815 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Mineralys Therapeutics during the second quarter valued at approximately $333,000. California State Teachers Retirement System boosted its stake in shares of Mineralys Therapeutics by 2,860.2% during the second quarter. California State Teachers Retirement System now owns 1,813,623 shares of the company’s stock valued at $48,932,000 after purchasing an additional 1,752,357 shares during the period. Finally, Pale Fire Capital SE grew its holdings in shares of Mineralys Therapeutics by 68.0% in the second quarter. Pale Fire Capital SE now owns 614,284 shares of the company’s stock worth $16,573,000 after purchasing an additional 248,658 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on MLYS shares. Wall Street Zen cut shares of Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. HC Wainwright reiterated a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Zacks Research cut Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $48.80.

Insider Buying and Selling

In other news, insider Eric Warren sold 104,124 shares of Mineralys Therapeutics 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 completion of the transaction, the insider owned 38,400 shares of the company’s stock, valued at $994,560. The trade was a 73.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daphne Karydas sold 3,000 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $25.00, for a total transaction of $75,000.00. Following the sale, the director directly owned 6,200 shares in the company, valued at $155,000. This trade represents a 32.61% 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. Insiders have sold 222,163 shares of company stock valued at $5,751,963 over the last ninety days. Insiders own 18.94% of the company’s stock.

Mineralys Therapeutics Price Performance

MLYS stock opened at $30.50 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 34.46 and a current ratio of 34.46. The firm has a 50 day moving average price of $27.20 and a 200-day moving average price of $27.13. Mineralys Therapeutics, Inc. has a 52-week low of $22.30 and a 52-week high of $47.65. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of -7.19 and a beta of 0.68.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($2.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($2.30). Equities research analysts forecast that Mineralys Therapeutics, Inc. will post -4.45 EPS for the current fiscal year.

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.