Pale Fire Capital SE Purchases 355,272 Shares of Mineralys Therapeutics, Inc. $MLYS

Pale Fire Capital SE increased its position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 3,431.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 365,626 shares of the company’s stock after buying an additional 355,272 shares during the quarter. Mineralys Therapeutics comprises about 0.8% of Pale Fire Capital SE’s portfolio, making the stock its 16th biggest position. Pale Fire Capital SE owned approximately 0.44% of Mineralys Therapeutics worth $9,905,000 at the end of the most recent reporting period.

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

Insider Transactions at Mineralys Therapeutics

In other Mineralys Therapeutics news, insider Eric Warren sold 104,124 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $25.90, for a total transaction of $2,696,811.60. Following the completion of the transaction, the insider directly owned 38,400 shares of the company’s stock, valued at approximately $994,560. This represents a 73.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daphne Karydas sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was 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 $155,000. This represents a 32.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 230,280 shares of company stock worth $6,018,442 in the last ninety days. Company insiders own 18.94% of the company’s stock.

Analyst Ratings Changes

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

Mineralys Therapeutics Stock Performance

NASDAQ MLYS opened at $26.71 on Friday. The company has a market capitalization of $2.20 billion, a PE ratio of -13.03 and a beta of 0.66. Mineralys Therapeutics, Inc. has a 52-week low of $12.59 and a 52-week high of $47.65. The company has a 50-day simple moving average of $27.05 and a 200 day simple moving average of $28.24.

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

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. 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.