Y Intercept Hong Kong Ltd Acquires 100,740 Shares of Mineralys Therapeutics, Inc. $MLYS

Y Intercept Hong Kong Ltd grew its holdings in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 321.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 132,099 shares of the company’s stock after purchasing an additional 100,740 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.16% of Mineralys Therapeutics worth $3,579,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. AQR Capital Management LLC bought a new position in Mineralys Therapeutics during the first quarter valued at about $550,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Mineralys Therapeutics by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock valued at $271,000 after acquiring an additional 702 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Mineralys Therapeutics by 166.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company’s stock valued at $4,739,000 after acquiring an additional 186,480 shares during the period. Woodline Partners LP purchased a new stake in shares of Mineralys Therapeutics during the 1st quarter worth approximately $757,000. Finally, Creative Planning bought a new stake in shares of Mineralys Therapeutics in the 2nd quarter worth approximately $336,000. 84.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on MLYS shares. TD Cowen initiated coverage on Mineralys Therapeutics in a research note on Monday, April 27th. They issued a “buy” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. Jefferies Financial Group reaffirmed a “hold” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. 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, March 13th. Finally, Wall Street Zen cut shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Six equities 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. According to MarketBeat.com, Mineralys Therapeutics has an average rating of “Moderate Buy” and an average target price of $49.33.

Mineralys Therapeutics Trading Up 4.0%

Shares of NASDAQ MLYS traded up $1.17 during midday trading on Tuesday, hitting $30.29. 435,596 shares of the company’s stock were exchanged, compared to its average volume of 1,403,943. The business’s fifty day moving average price is $27.09 and its two-hundred day moving average price is $29.06. The company has a market cap of $2.50 billion, a price-to-earnings ratio of -14.81 and a beta of 0.66. Mineralys Therapeutics, Inc. has a 12-month low of $12.59 and a 12-month high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.04. Equities analysts expect that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current fiscal year.

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, insider Eric Warren sold 104,124 shares of Mineralys Therapeutics stock in a transaction that occurred on 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jon Congleton sold 75,000 shares of the firm’s stock in a transaction on 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 owned 614,321 shares of the company’s stock, valued at approximately $16,058,350.94. This represents a 10.88% 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. Over the last ninety days, insiders have sold 266,831 shares of company stock worth $6,995,829. Company insiders own 18.94% of the company’s stock.

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.