Mineralys Therapeutics (NASDAQ:MLYS) Director Purchases $7,354,269.00 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Director Ra Capital Management, L.P. acquired 310,700 shares of the company’s stock in a transaction on Friday, March 27th. The stock was acquired at an average cost of $23.67 per share, with a total value of $7,354,269.00. Following the completion of the purchase, the director directly owned 5,767,221 shares in the company, valued at approximately $136,510,121.07. This represents a 5.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Mineralys Therapeutics Stock Performance

Shares of NASDAQ MLYS opened at $26.97 on Friday. The firm’s 50-day moving average price is $27.88 and its 200-day moving average price is $34.97. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of -11.38 and a beta of 0.69. Mineralys Therapeutics, Inc. has a 12-month low of $10.44 and a 12-month high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.17. On average, equities analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MLYS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Thursday, January 22nd. Stifel Nicolaus raised their price target on Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Bank of America lifted their price objective on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. Wall Street Zen upgraded shares of Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $30.00 target price on shares of Mineralys Therapeutics in a research note on Friday, March 13th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.14.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in Mineralys Therapeutics by 198.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock valued at $40,000 after purchasing an additional 676 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Mineralys Therapeutics by 4.3% during 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 in the last quarter. Navalign LLC bought a new position in shares of Mineralys Therapeutics during the 4th quarter worth $33,000. Velan Capital Investment Management LP increased its stake in shares of Mineralys Therapeutics by 0.6% during the third quarter. Velan Capital Investment Management LP now owns 175,600 shares of the company’s stock valued at $6,659,000 after buying an additional 1,000 shares during the period. Finally, Royal Bank of Canada increased its stake in shares of Mineralys Therapeutics by 262.3% during the fourth quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock valued at $56,000 after buying an additional 1,107 shares during the period. Institutional investors own 84.46% of the company’s stock.

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.