Jupiter Topco LLC Makes New Investment in Mineralys Therapeutics, Inc. $MLYS

Jupiter Topco LLC acquired a new position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 28,648 shares of the company’s stock, valued at approximately $773,000.

Several other hedge funds also recently modified their holdings of MLYS. ADAR1 Capital Management LLC acquired a new stake in shares of Mineralys Therapeutics in the second quarter valued at about $8,064,000. Canada Pension Plan Investment Board bought a new position in Mineralys Therapeutics in the second quarter valued at approximately $1,387,000. Parkman Healthcare Partners LLC bought a new position in Mineralys Therapeutics in the second quarter valued at approximately $10,262,000. Legal & General Group Plc acquired a new position in shares of Mineralys Therapeutics during the 2nd quarter worth approximately $1,027,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Mineralys Therapeutics during the 2nd quarter worth approximately $864,000. Institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

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

Mineralys Therapeutics Price Performance

MLYS stock opened at $28.21 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 34.46 and a quick ratio of 34.46. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of -6.65 and a beta of 0.68. The business’s fifty day moving average price is $27.02 and its two-hundred day moving average price is $27.09. 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 released its quarterly earnings results on Wednesday, August 12th. The company reported ($2.85) EPS for the quarter, missing the consensus estimate of ($0.55) by ($2.30). On average, equities analysts anticipate that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current year.

Insider Buying and Selling at Mineralys Therapeutics

In related news, insider Eric Warren sold 104,124 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $25.90, for a total value of $2,696,811.60. Following the completion of the sale, the insider directly owned 38,400 shares in the company, valued at approximately $994,560. The trade was a 73.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Rodman sold 9,890 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $23.81, for a total value of $235,480.90. Following the sale, the insider directly owned 57,095 shares in the company, valued at $1,359,431.95. This represents a 14.76% 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. In the last quarter, insiders have sold 224,333 shares of company stock worth $5,806,213. 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.