Boothbay Fund Management LLC Sells 116,877 Shares of Mineralys Therapeutics, Inc. $MLYS

Boothbay Fund Management LLC lessened its position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 12.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 816,926 shares of the company’s stock after selling 116,877 shares during the period. Boothbay Fund Management LLC’s holdings in Mineralys Therapeutics were worth $11,053,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. RA Capital Management L.P. grew its position in shares of Mineralys Therapeutics by 26.7% during the 1st quarter. RA Capital Management L.P. now owns 6,147,280 shares of the company’s stock valued at $97,619,000 after purchasing an additional 1,296,296 shares in the last quarter. SR One Capital Management LP raised its position in shares of Mineralys Therapeutics by 55.1% in the first quarter. SR One Capital Management LP now owns 3,127,933 shares of the company’s stock worth $49,672,000 after buying an additional 1,111,111 shares in the last quarter. Vanguard Group Inc. boosted its stake in Mineralys Therapeutics by 42.1% during the first quarter. Vanguard Group Inc. now owns 2,035,506 shares of the company’s stock valued at $32,324,000 after buying an additional 603,464 shares during the period. Franklin Resources Inc. grew its position in Mineralys Therapeutics by 1.3% during the second quarter. Franklin Resources Inc. now owns 1,803,597 shares of the company’s stock worth $24,403,000 after buying an additional 23,556 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Mineralys Therapeutics by 19.0% during the second quarter. Geode Capital Management LLC now owns 954,560 shares of the company’s stock worth $12,917,000 after buying an additional 152,560 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Bank of America raised their price target on Mineralys Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Jefferies Financial Group upped their price objective on shares of Mineralys Therapeutics from $15.00 to $26.00 and gave the stock a “hold” rating in a research report on Wednesday, September 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, Wells Fargo & Company increased their price target on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $46.67.

Mineralys Therapeutics Trading Up 2.4%

Shares of Mineralys Therapeutics stock opened at $36.90 on Friday. The firm has a market capitalization of $2.92 billion, a PE ratio of -12.51 and a beta of 0.40. Mineralys Therapeutics, Inc. has a 12 month low of $8.24 and a 12 month high of $47.65. The business’s 50-day moving average price is $41.01 and its 200-day moving average price is $27.46.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its earnings results on Monday, November 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.14. As a group, analysts predict that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Brian Taylor Slingsby sold 1,000,000 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $43.35, for a total value of $43,350,000.00. Following the completion of the sale, the director owned 7,903,838 shares of the company’s stock, valued at approximately $342,631,377.30. This represents a 11.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daphne Karydas sold 15,000 shares of Mineralys Therapeutics stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $45.99, for a total transaction of $689,850.00. The SEC filing for this sale provides additional information. Insiders have sold 1,416,793 shares of company stock worth $62,019,643 in the last ninety days. 25.56% of the stock is currently owned by 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.