Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Major Shareholder Samsara Biocapital Gp, Llc Purchases 600,000 Shares

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) major shareholder Samsara Biocapital Gp, Llc acquired 600,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of $13.50 per share, for a total transaction of $8,100,000.00. Following the completion of the acquisition, the insider now owns 5,674,916 shares in the company, valued at approximately $76,611,366. This trade represents a 11.82 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Mineralys Therapeutics Trading Up 8.6 %

Shares of MLYS opened at $16.75 on Thursday. The stock has a 50 day moving average of $10.61 and a 200-day moving average of $12.00. Mineralys Therapeutics, Inc. has a 52 week low of $8.24 and a 52 week high of $18.38. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -4.60 and a beta of 1.50.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02. On average, sell-side analysts predict that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mineralys Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MLYS. Polar Asset Management Partners Inc. lifted its position in shares of Mineralys Therapeutics by 144.7% during the 4th quarter. Polar Asset Management Partners Inc. now owns 99,100 shares of the company’s stock valued at $1,220,000 after acquiring an additional 58,600 shares during the last quarter. Tema Etfs LLC purchased a new position in Mineralys Therapeutics in the fourth quarter valued at about $1,102,000. Stempoint Capital LP acquired a new stake in shares of Mineralys Therapeutics in the fourth quarter worth $4,925,000. ProShare Advisors LLC bought a new stake in Mineralys Therapeutics during the fourth quarter valued at about $128,000. Finally, Millennium Management LLC boosted its stake in Mineralys Therapeutics by 1,015.8% during the 4th quarter. Millennium Management LLC now owns 1,101,674 shares of the company’s stock valued at $13,562,000 after purchasing an additional 1,002,941 shares during the period. Institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MLYS shares. The Goldman Sachs Group cut their target price on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Mineralys Therapeutics in a research note on Monday, March 10th. Finally, Guggenheim reiterated a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th.

Mineralys Therapeutics Company Profile

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.