Pale Fire Capital SE Buys 248,658 Shares of Mineralys Therapeutics, Inc. $MLYS

Pale Fire Capital SE grew its position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 68.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 614,284 shares of the company’s stock after purchasing an additional 248,658 shares during the quarter. Mineralys Therapeutics makes up 0.4% of Pale Fire Capital SE’s holdings, making the stock its 15th biggest holding. Pale Fire Capital SE owned approximately 0.69% of Mineralys Therapeutics worth $16,573,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Nantahala Capital Management LLC bought a new position in shares of Mineralys Therapeutics during the second quarter worth about $22,136,577. Capstone Investment Advisors LLC bought a new position in Mineralys Therapeutics during the 2nd quarter worth approximately $226,000. Artia Global Partners LP acquired a new position in shares of Mineralys Therapeutics in the 2nd quarter worth approximately $3,718,000. Bank of America Corp DE acquired a new position in shares of Mineralys Therapeutics in the 2nd quarter worth approximately $40,620,000. Finally, Man Group plc acquired a new stake in shares of Mineralys Therapeutics during the second quarter worth $1,609,000. Institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on MLYS shares. Zacks Research cut shares of Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 13th. HC Wainwright reissued a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Wall Street Zen cut Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $49.33.

Mineralys Therapeutics Stock Up 13.6%

Shares of NASDAQ:MLYS opened at $29.04 on Thursday. The business’s 50 day moving average is $26.95 and its 200 day moving average is $27.08. Mineralys Therapeutics, Inc. has a 12-month low of $22.30 and a 12-month high of $47.65. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of -6.85 and a beta of 0.68. The company has a quick ratio of 34.46, a current ratio of 34.46 and a debt-to-equity ratio of 0.18.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Wednesday, August 12th. The company reported ($2.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($2.30). On average, sell-side analysts forecast that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current fiscal year.

Insider Activity

In other Mineralys Therapeutics news, Director Daphne Karydas sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $25.00, for a total value of $75,000.00. Following the completion of the transaction, the director owned 6,200 shares in the company, valued at $155,000. This represents a 32.61% decrease in their position. The sale 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, insider David Malcom Rodman sold 2,170 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $27.09, for a total value of $58,785.30. Following the sale, the insider directly owned 51,384 shares of the company’s stock, valued at approximately $1,391,992.56. This represents a 4.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 224,333 shares of company stock worth $5,806,213. Corporate insiders own 18.94% of the company’s stock.

Mineralys Therapeutics 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.