Orbimed Advisors LLC Grows Stake in Mineralys Therapeutics, Inc. $MLYS

Orbimed Advisors LLC increased its holdings in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 109.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,052,900 shares of the company’s stock after purchasing an additional 1,072,500 shares during the quarter. Mineralys Therapeutics makes up approximately 1.0% of Orbimed Advisors LLC’s portfolio, making the stock its 26th biggest position. Orbimed Advisors LLC’s holdings in Mineralys Therapeutics were worth $55,613,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MLYS. Navalign LLC purchased a new position in Mineralys Therapeutics in the fourth quarter valued at approximately $33,000. KBC Group NV purchased a new stake in shares of Mineralys Therapeutics during the 1st quarter worth approximately $33,000. Royal Bank of Canada boosted its holdings in shares of Mineralys Therapeutics by 262.3% in the 4th quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock valued at $56,000 after buying an additional 1,107 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Mineralys Therapeutics by 1,845.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock valued at $76,000 after buying an additional 1,993 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Mineralys Therapeutics by 14,091.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock valued at $124,000 after buying an additional 3,241 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Mineralys Therapeutics

In other news, Director Daphne Karydas sold 3,000 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $25.00, for a total value of $75,000.00. Following the completion of the sale, the director directly owned 6,200 shares of the company’s stock, valued at approximately $155,000. This represents a 32.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 104,124 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 38,400 shares in the company, valued at approximately $994,560. This represents a 73.06% 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. Over the last 90 days, insiders sold 230,280 shares of company stock valued at $6,018,442. Company insiders own 18.94% of the company’s stock.

Mineralys Therapeutics Stock Performance

MLYS stock opened at $26.71 on Monday. The company has a market capitalization of $2.20 billion, a P/E ratio of -13.03 and a beta of 0.66. The business has a 50 day simple moving average of $27.05 and a 200-day simple moving average of $28.19. Mineralys Therapeutics, Inc. has a twelve month low of $12.59 and a twelve month high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results on Wednesday, May 6th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.04. Research analysts predict that Mineralys Therapeutics, Inc. will post -2.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MLYS. Jefferies Financial Group reiterated a “hold” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Wall Street Zen downgraded shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. TD Cowen began coverage on Mineralys Therapeutics in a report on Monday, April 27th. They set a “buy” rating on the stock. HC Wainwright reiterated a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.33.

Mineralys Therapeutics 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. 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.