Sphera Funds Management LTD. Has $2.35 Million Holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Sphera Funds Management LTD. cut its holdings in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 30.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 190,672 shares of the company’s stock after selling 81,800 shares during the period. Sphera Funds Management LTD.’s holdings in Mineralys Therapeutics were worth $2,347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. lifted its position in Mineralys Therapeutics by 144.7% during the 4th quarter. Polar Asset Management Partners Inc. now owns 99,100 shares of the company’s stock worth $1,220,000 after buying an additional 58,600 shares in the last quarter. ProShare Advisors LLC bought a new stake in Mineralys Therapeutics during the 4th quarter worth about $128,000. Millennium Management LLC lifted its position 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 worth $13,562,000 after buying an additional 1,002,941 shares in the last quarter. Letko Brosseau & Associates Inc. lifted its position in Mineralys Therapeutics by 44.7% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 16,500 shares of the company’s stock worth $203,000 after buying an additional 5,100 shares in the last quarter. Finally, Integral Health Asset Management LLC lifted its position in Mineralys Therapeutics by 145.8% during the 4th quarter. Integral Health Asset Management LLC now owns 875,000 shares of the company’s stock worth $10,771,000 after buying an additional 519,000 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Insider Activity

In related news, major shareholder Samsara Biocapital Gp, Llc purchased 600,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $13.50 per share, for a total transaction of $8,100,000.00. Following the purchase, the insider now owns 5,674,916 shares in the company, valued at approximately $76,611,366. This represents a 11.82% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ra Capital Management, L.P. purchased 1,296,296 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price of $13.50 per share, for a total transaction of $17,499,996.00. Following the purchase, the director now owns 4,280,051 shares in the company, valued at $57,780,688.50. The trade was a 43.45% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 104,579 shares of company stock valued at $1,534,353. 25.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on MLYS. The Goldman Sachs Group cut their price target on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Guggenheim reissued a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, February 24th. Finally, HC Wainwright reissued a “buy” rating and set a $42.00 price target on shares of Mineralys Therapeutics in a research report on Tuesday.

Mineralys Therapeutics Stock Performance

Shares of MLYS stock opened at $15.36 on Friday. The firm’s 50-day moving average is $14.27 and its 200-day moving average is $12.47. The stock has a market cap of $996.50 million, a price-to-earnings ratio of -4.22 and a beta of -0.30. Mineralys Therapeutics, Inc. has a 52-week low of $8.24 and a 52-week high of $18.38.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its earnings results on Monday, May 12th. The company reported ($0.79) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.23. Sell-side analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

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.