Ra Capital Management, L.P. Acquires 1,296,296 Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Director Ra Capital Management, L.P. purchased 1,296,296 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $13.50 per share, for a total transaction of $17,499,996.00. Following the acquisition, the director now directly owns 4,280,051 shares in the company, valued at $57,780,688.50. This trade represents a 43.45 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Mineralys Therapeutics Price Performance

Mineralys Therapeutics stock opened at $15.43 on Wednesday. The firm has a market capitalization of $768.97 million, a P/E ratio of -4.24 and a beta of 1.50. Mineralys Therapeutics, Inc. has a one year low of $8.24 and a one year high of $18.29. The business has a fifty day moving average price of $10.50 and a 200-day moving average price of $11.97.

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

Analyst Ratings Changes

MLYS has been the subject of a number of recent research reports. The Goldman Sachs Group decreased their target price on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. HC Wainwright restated a “buy” rating and issued 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 report on Monday, February 24th.

Hedge Funds Weigh In On Mineralys Therapeutics

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in shares of Mineralys Therapeutics during the 4th quarter valued at $48,000. ProShare Advisors LLC bought a new stake in Mineralys Therapeutics during the fourth quarter valued at $128,000. China Universal Asset Management Co. Ltd. grew its position in Mineralys Therapeutics by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company’s stock worth $130,000 after buying an additional 989 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in Mineralys Therapeutics in the 4th quarter worth about $145,000. Finally, PDT Partners LLC purchased a new stake in shares of Mineralys Therapeutics in the 3rd quarter valued at about $148,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

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.