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

Pale Fire Capital SE lifted its position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 68.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 614,284 shares of the company’s stock after buying an additional 248,658 shares during the quarter. Mineralys Therapeutics makes up approximately 0.4% of Pale Fire Capital SE’s portfolio, making the stock its 15th biggest holding. Pale Fire Capital SE’s holdings in Mineralys Therapeutics were worth $16,573,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MLYS. BlackRock Inc. purchased a new stake in Mineralys Therapeutics during the second quarter valued at about $158,832,000. State Street Corp raised its stake in Mineralys Therapeutics by 144.4% in 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 in the last quarter. Bank of America Corp DE purchased a new position in Mineralys Therapeutics during the second quarter valued at $40,620,000. Price T Rowe Associates Inc. MD lifted its position in Mineralys Therapeutics by 6,097.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,325,120 shares of the company’s stock valued at $48,089,000 after acquiring an additional 1,303,737 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in Mineralys Therapeutics by 6,012.8% in the fourth quarter. Janus Henderson Group PLC now owns 1,213,265 shares of the company’s stock worth $44,005,000 after acquiring an additional 1,193,417 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Trading Up 13.6%

NASDAQ:MLYS opened at $29.04 on Thursday. Mineralys Therapeutics, Inc. has a one year low of $22.30 and a one year high of $47.65. The firm has a 50-day simple moving average of $26.95 and a 200-day simple moving average of $27.08. The firm has a market cap of $2.57 billion, a P/E ratio of -6.85 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.

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

Insider Transactions at Mineralys Therapeutics

In other Mineralys Therapeutics news, insider Eric Warren sold 7,437 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $25.98, for a total transaction of $193,213.26. Following the completion of the transaction, the insider owned 38,400 shares of the company’s stock, valued at $997,632. This represents a 16.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jon Congleton sold 75,000 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $26.14, for a total value of $1,960,500.00. Following the completion of the transaction, the chief executive officer directly owned 614,321 shares of the company’s stock, valued at approximately $16,058,350.94. This represents a 10.88% 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. Insiders have sold a total of 224,333 shares of company stock valued at $5,806,213 in the last 90 days. Corporate insiders own 18.94% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on MLYS. HC Wainwright reiterated a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Jefferies Financial Group reiterated a “hold” 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 research report on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. Finally, Zacks Research cut shares of Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 13th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Mineralys Therapeutics currently has an average rating of “Hold” and a consensus price target of $49.33.

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.