218,726 Shares in Mineralys Therapeutics, Inc. $MLYS Purchased by Simplify Asset Management Inc.

Simplify Asset Management Inc. bought a new position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 218,726 shares of the company’s stock, valued at approximately $8,294,000. Mineralys Therapeutics accounts for about 0.2% of Simplify Asset Management Inc.’s investment portfolio, making the stock its 17th largest holding.

Other hedge funds have also made changes to their positions in the company. Voya Investment Management LLC increased its holdings in shares of Mineralys Therapeutics by 174.4% during the 3rd quarter. Voya Investment Management LLC now owns 138,526 shares of the company’s stock worth $5,253,000 after buying an additional 88,050 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Mineralys Therapeutics by 31.0% during the second quarter. China Universal Asset Management Co. Ltd. now owns 13,090 shares of the company’s stock worth $177,000 after acquiring an additional 3,094 shares during the last quarter. Rafferty Asset Management LLC purchased a new stake in Mineralys Therapeutics in the second quarter valued at $776,000. Man Group plc raised its position in Mineralys Therapeutics by 50.1% in the second quarter. Man Group plc now owns 21,852 shares of the company’s stock valued at $296,000 after purchasing an additional 7,293 shares during the period. Finally, Balyasny Asset Management L.P. lifted its stake in shares of Mineralys Therapeutics by 37.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 205,723 shares of the company’s stock valued at $2,783,000 after purchasing an additional 56,450 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Buying and Selling

In other Mineralys Therapeutics news, CEO Jon Congleton sold 200,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $45.44, for a total value of $9,088,000.00. Following the completion of the transaction, the chief executive officer owned 631,305 shares in the company, valued at $28,686,499.20. The trade was a 24.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Alexander M. Gold sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $43.98, for a total value of $659,700.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,405,426 shares of company stock worth $61,610,431 over the last three months. 33.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MLYS. Wells Fargo & Company raised their price objective on Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Wednesday, October 8th. Jefferies Financial Group lifted their price target on shares of Mineralys Therapeutics from $15.00 to $26.00 and gave the company a “hold” rating in a research report on Wednesday, September 3rd. The Goldman Sachs Group upped their price objective on shares of Mineralys Therapeutics from $32.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. Finally, HC Wainwright lifted their target price on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.43.

Mineralys Therapeutics Price Performance

Shares of NASDAQ:MLYS opened at $36.83 on Tuesday. The firm has a market capitalization of $2.91 billion, a PE ratio of -12.48 and a beta of 0.40. Mineralys Therapeutics, Inc. has a 1 year low of $8.24 and a 1 year high of $47.65. The firm’s 50-day moving average is $40.05 and its two-hundred day moving average is $29.27.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.14. Analysts expect that Mineralys Therapeutics, Inc. will post -4.23 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.