Sigma Planning Corp Acquires New Position in Mineralys Therapeutics, Inc. $MLYS

Sigma Planning Corp purchased a new position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 24,000 shares of the company’s stock, valued at approximately $871,000.

A number of other institutional investors have also added to or reduced their stakes in MLYS. Hudson Bay Capital Management LP acquired a new position in shares of Mineralys Therapeutics in the 3rd quarter valued at $2,873,000. SG Americas Securities LLC boosted its holdings in shares of Mineralys Therapeutics by 130.7% in the 4th quarter. SG Americas Securities LLC now owns 230,795 shares of the company’s stock valued at $8,376,000 after buying an additional 130,758 shares in the last quarter. Vanguard Group Inc. boosted its stake in Mineralys Therapeutics by 29.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,018,999 shares of the company’s stock worth $114,480,000 after purchasing an additional 692,550 shares during the period. Citigroup Inc. boosted its stake in Mineralys Therapeutics by 501.7% during the 3rd quarter. Citigroup Inc. now owns 163,168 shares of the company’s stock worth $6,187,000 after purchasing an additional 136,050 shares during the period. Finally, Farallon Capital Management LLC acquired a new stake in Mineralys Therapeutics during the 3rd quarter worth $63,442,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MLYS. Wall Street Zen upgraded shares of Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Tuesday, April 21st. HC Wainwright set a $56.00 price target on shares of Mineralys Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Jefferies Financial Group reaffirmed a “hold” rating and set a $30.00 price objective on shares of Mineralys Therapeutics in a research report on Friday, March 13th. Finally, TD Cowen began coverage on Mineralys Therapeutics in a research note on Monday, April 27th. They issued a “buy” rating on the stock. Seven 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.14.

Mineralys Therapeutics Stock Performance

Shares of Mineralys Therapeutics stock opened at $29.65 on Tuesday. The company has a market cap of $2.44 billion, a P/E ratio of -12.51 and a beta of 0.49. Mineralys Therapeutics, Inc. has a one year low of $12.59 and a one year high of $47.65. The firm has a fifty day moving average of $27.11 and a two-hundred day moving average of $33.43.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.17. As a group, equities analysts predict that Mineralys Therapeutics, Inc. will post -2.23 earnings per share for the current year.

Insider Activity

In other news, Director Ra Capital Management, L.P. acquired 310,700 shares of the business’s stock in a transaction on Friday, March 27th. The stock was bought at an average price of $23.67 per share, for a total transaction of $7,354,269.00. Following the transaction, the director owned 5,767,221 shares in the company, valued at $136,510,121.07. This represents a 5.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jon Congleton sold 75,000 shares of the company’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $26.27, for a total transaction of $1,970,250.00. Following the transaction, the chief executive officer owned 705,051 shares of the company’s stock, valued at approximately $18,521,689.77. The trade was a 9.61% decrease in their position. 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. Insiders have sold a total of 162,291 shares of company stock worth $4,336,414 in the last 90 days. Corporate insiders own 18.94% 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.