Rhenman & Partners Asset Management AB Invests $6.26 Million in Mineralys Therapeutics, Inc. $MLYS

Rhenman & Partners Asset Management AB acquired a new stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 165,000 shares of the company’s stock, valued at approximately $6,257,000.

A number of other large investors also recently bought and sold shares of MLYS. Orbimed Advisors LLC acquired a new stake in shares of Mineralys Therapeutics in the 2nd quarter worth $10,288,000. Stempoint Capital LP lifted its position in Mineralys Therapeutics by 605.3% in the second quarter. Stempoint Capital LP now owns 631,586 shares of the company’s stock valued at $8,551,000 after purchasing an additional 756,586 shares during the period. Vanguard Group Inc. boosted its holdings in Mineralys Therapeutics by 29.8% in the 3rd quarter. Vanguard Group Inc. now owns 3,018,999 shares of the company’s stock valued at $114,480,000 after purchasing an additional 692,550 shares in the last quarter. Barclays PLC boosted its holdings in Mineralys Therapeutics by 354.4% in the 3rd quarter. Barclays PLC now owns 653,830 shares of the company’s stock valued at $24,793,000 after purchasing an additional 509,946 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in Mineralys Therapeutics during the 2nd quarter worth approximately $4,751,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MLYS shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Thursday, January 22nd. HC Wainwright upped their price objective on Mineralys Therapeutics from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Stifel Nicolaus increased their price objective on Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Wall Street Zen downgraded Mineralys Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Wells Fargo & Company increased their price target on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $47.43.

Insider Activity at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 16,236 shares of Mineralys Therapeutics stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $32.62, for a total transaction of $529,618.32. Following the completion of the transaction, the chief executive officer directly owned 639,151 shares in the company, valued at $20,849,105.62. The trade was a 2.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David Malcom Rodman sold 14,055 shares of the stock in a transaction on Friday, February 13th. The shares were sold at an average price of $27.44, for a total value of $385,669.20. Following the sale, the insider owned 44,089 shares in the company, valued at approximately $1,209,802.16. This trade represents a 24.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 340,748 shares of company stock valued at $11,697,169. Insiders own 25.56% of the company’s stock.

Mineralys Therapeutics Stock Performance

Mineralys Therapeutics stock opened at $26.59 on Friday. Mineralys Therapeutics, Inc. has a fifty-two week low of $10.19 and a fifty-two week high of $47.65. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of -9.01 and a beta of 0.57. The stock’s fifty day moving average is $31.33 and its two-hundred day moving average is $35.07.

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. 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.