820,481 Shares in Mineralys Therapeutics, Inc. $MLYS Purchased by Nantahala Capital Management LLC

Nantahala Capital Management LLC bought a new position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 820,481 shares of the company’s stock, valued at approximately $22,136,577. Nantahala Capital Management LLC owned approximately 0.93% of Mineralys Therapeutics at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MLYS. Timothy G. Youngquist 2020 Irrevocable Trust acquired a new stake in shares of Mineralys Therapeutics during the second quarter worth $2,721,000. Jennison Associates LLC boosted its position in shares of Mineralys Therapeutics by 234.4% in the fourth quarter. Jennison Associates LLC now owns 1,258,653 shares of the company’s stock worth $45,677,000 after buying an additional 882,307 shares during the period. TimesSquare Capital Management LLC purchased a new position in shares of Mineralys Therapeutics during the second quarter valued at $6,363,000. Bank of America Corp DE grew its holdings in shares of Mineralys Therapeutics by 11.5% during the first quarter. Bank of America Corp DE now owns 1,100,372 shares of the company’s stock valued at $29,809,000 after buying an additional 113,092 shares in the last quarter. Finally, Artia Global Partners LP raised its position in Mineralys Therapeutics by 143.5% during the fourth quarter. Artia Global Partners LP now owns 137,800 shares of the company’s stock valued at $5,001,000 after buying an additional 81,200 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

MLYS has been the subject of a number of research reports. HC Wainwright restated a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Jefferies Financial Group reiterated a “hold” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Zacks Research lowered shares of Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 13th. Wall Street Zen lowered shares of Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.33.

Mineralys Therapeutics Price Performance

MLYS opened at $25.60 on Friday. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -6.04 and a beta of 0.68. Mineralys Therapeutics, Inc. has a 1 year low of $14.94 and a 1 year high of $47.65. The company has a current ratio of 34.46, a quick ratio of 34.46 and a debt-to-equity ratio of 0.18. The stock has a fifty day moving average price of $26.88 and a 200 day moving average price of $27.17.

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

Insider Transactions at Mineralys Therapeutics

In related 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 transaction, the chief executive officer owned 614,321 shares of the company’s stock, valued at approximately $16,058,350.94. This trade represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 Mineralys Therapeutics stock in a transaction that occurred 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 completion of the sale, the director owned 6,200 shares of the company’s stock, 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. In the last 90 days, insiders sold 224,333 shares of company stock worth $5,806,213. 18.94% of the stock is owned by corporate insiders.

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.