Catalio Capital Management LP Takes $12.04 Million Position in Mineralys Therapeutics, Inc. $MLYS

Catalio Capital Management LP purchased a new stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 331,849 shares of the company’s stock, valued at approximately $12,043,000. Mineralys Therapeutics accounts for about 2.2% of Catalio Capital Management LP’s holdings, making the stock its 20th largest position.

Several other large investors also recently modified their holdings of MLYS. State Street Corp increased its position in shares of Mineralys Therapeutics by 144.4% during the fourth quarter. State Street Corp now owns 3,184,999 shares of the company’s stock worth $115,584,000 after buying an additional 1,881,976 shares during the period. Farallon Capital Management LLC acquired a new stake in shares of Mineralys Therapeutics during the third quarter worth $63,442,000. Price T Rowe Associates Inc. MD increased its position in shares of Mineralys Therapeutics by 6,097.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,325,120 shares of the company’s stock worth $48,089,000 after buying an additional 1,303,737 shares during the period. Holocene Advisors LP acquired a new stake in shares of Mineralys Therapeutics during the third quarter worth $45,708,000. Finally, RA Capital Management L.P. increased its position in shares of Mineralys Therapeutics by 19.1% during the third quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company’s stock worth $277,717,000 after buying an additional 1,176,470 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Mineralys Therapeutics Trading Up 4.8%

NASDAQ:MLYS opened at $25.13 on Thursday. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of -12.26 and a beta of 0.57. The firm has a fifty day simple moving average of $27.64 and a two-hundred day simple moving average of $30.13. 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 analysts’ consensus estimates of ($0.51) by $0.04. Equities analysts predict that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Bank of America increased their price objective on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. TD Cowen assumed coverage on shares of Mineralys Therapeutics in a research report on Monday, April 27th. They set a “buy” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. Wall Street Zen cut shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.33.

Insiders Place Their Bets

In other Mineralys Therapeutics news, CEO Jon Congleton sold 15,730 shares of the firm’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $26.83, for a total value of $422,035.90. Following the completion of the sale, the chief executive officer directly owned 689,321 shares in the company, valued at approximately $18,494,482.43. This trade represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daphne Karydas sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was 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. The trade was 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. Over the last ninety days, insiders sold 165,707 shares of company stock worth $4,383,768. 18.94% of the stock is currently owned by company 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.