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

BlueCrest Capital Management Ltd acquired a new position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 85,157 shares of the company’s stock, valued at approximately $2,298,000.

Other hedge funds have also bought and sold shares of the company. RA Capital Management L.P. boosted its holdings in shares of Mineralys Therapeutics by 19.1% during the 3rd quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company’s stock valued at $277,717,000 after acquiring an additional 1,176,470 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Mineralys Therapeutics during the second quarter valued at approximately $158,832,000. Vanguard Group Inc. raised its holdings in shares of Mineralys Therapeutics by 11.1% during the fourth quarter. Vanguard Group Inc. now owns 3,352,880 shares of the company’s stock valued at $121,676,000 after purchasing an additional 333,881 shares during the last quarter. State Street Corp lifted its position in Mineralys Therapeutics by 144.4% during the fourth quarter. State Street Corp now owns 3,184,999 shares of the company’s stock valued at $115,584,000 after purchasing an additional 1,881,976 shares during the period. Finally, Caligan Partners LP lifted its position in Mineralys Therapeutics by 37.4% during the third quarter. Caligan Partners LP now owns 2,772,654 shares of the company’s stock valued at $105,139,000 after purchasing an additional 755,302 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Price Performance

NASDAQ MLYS opened at $30.50 on Thursday. The company has a market capitalization of $2.70 billion, a PE ratio of -7.19 and a beta of 0.68. 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 business’s fifty day moving average is $27.20 and its 200 day moving average is $27.13. Mineralys Therapeutics, Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $47.65.

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

Insider Activity

In other Mineralys Therapeutics news, CEO Jon Congleton sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $26.14, for a total transaction of $1,960,500.00. Following the sale, the chief executive officer owned 614,321 shares in the company, valued at approximately $16,058,350.94. This trade represents a 10.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Mineralys Therapeutics stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $25.00, for a total transaction of $75,000.00. Following the transaction, the director owned 6,200 shares in the company, valued at approximately $155,000. This trade represents a 32.61% decrease in their position. 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 90 days, insiders sold 222,163 shares of company stock valued at $5,751,963. 18.94% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. HC Wainwright restated 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 report on Thursday, August 13th. Wall Street Zen lowered Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Jefferies Financial Group reiterated a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $48.80.

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.