ADAR1 Capital Management LLC Increases Position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

ADAR1 Capital Management LLC lifted its position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 15.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 841,541 shares of the company’s stock after buying an additional 112,140 shares during the quarter. Mineralys Therapeutics makes up 2.1% of ADAR1 Capital Management LLC’s investment portfolio, making the stock its 11th largest holding. ADAR1 Capital Management LLC owned approximately 1.69% of Mineralys Therapeutics worth $10,359,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Mineralys Therapeutics by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 213,599 shares of the company’s stock valued at $2,587,000 after acquiring an additional 9,664 shares during the period. FMR LLC grew its stake in shares of Mineralys Therapeutics by 12.0% during the 3rd quarter. FMR LLC now owns 303,758 shares of the company’s stock worth $3,679,000 after purchasing an additional 32,663 shares during the period. Verition Fund Management LLC lifted its stake in shares of Mineralys Therapeutics by 30.6% in the third quarter. Verition Fund Management LLC now owns 27,361 shares of the company’s stock valued at $331,000 after purchasing an additional 6,408 shares during the period. State Street Corp boosted its holdings in Mineralys Therapeutics by 4.0% during the third quarter. State Street Corp now owns 483,766 shares of the company’s stock worth $5,858,000 after buying an additional 18,627 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in Mineralys Therapeutics during the third quarter worth about $775,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Activity

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $9.10, for a total value of $97,888.70. Following the sale, the chief financial officer now directly owns 226,097 shares in the company, valued at approximately $2,057,482.70. The trade was a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David Malcom Rodman sold 55,771 shares of Mineralys Therapeutics stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $15.76, for a total transaction of $878,950.96. Following the completion of the transaction, the insider now directly owns 116,704 shares in the company, valued at $1,839,255.04. This represents a 32.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,861 shares of company stock worth $1,142,937. 33.24% of the stock is owned by company insiders.

Mineralys Therapeutics Stock Performance

NASDAQ:MLYS opened at $12.40 on Monday. The stock has a market cap of $778.53 million, a price-to-earnings ratio of -3.41 and a beta of -0.39. Mineralys Therapeutics, Inc. has a one year low of $8.24 and a one year high of $18.38. The business’s 50-day simple moving average is $11.90 and its 200 day simple moving average is $12.29.

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

Analyst Ratings Changes

A number of research firms recently weighed in on MLYS. Guggenheim restated a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, February 24th. The Goldman Sachs Group cut their price target on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, HC Wainwright increased their price objective on shares of Mineralys Therapeutics from $30.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 2nd.

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.