Holocene Advisors LP Buys Shares of 1,205,377 Mineralys Therapeutics, Inc. $MLYS

Holocene Advisors LP purchased a new position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,205,377 shares of the company’s stock, valued at approximately $45,708,000. Holocene Advisors LP owned about 1.52% of Mineralys Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its position in Mineralys Therapeutics by 198.2% in the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock worth $40,000 after acquiring an additional 676 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in Mineralys Therapeutics by 42.8% in the second quarter. Ameritas Investment Partners Inc. now owns 3,995 shares of the company’s stock valued at $54,000 after acquiring an additional 1,197 shares during the last quarter. Russell Investments Group Ltd. raised its position 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 valued at $124,000 after purchasing an additional 3,241 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in Mineralys Therapeutics by 29.4% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 9,234 shares of the company’s stock valued at $125,000 after purchasing an additional 2,098 shares in the last quarter. Finally, ProShare Advisors LLC bought a new stake in Mineralys Therapeutics during the second quarter worth about $141,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

MLYS has been the subject of a number of research reports. Bank of America upped their price objective on Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday. Wall Street Zen upgraded Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Thursday, January 22nd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $30.00 target price on shares of Mineralys Therapeutics in a research note on Friday. Finally, Stifel Nicolaus increased their price target on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Six equities 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 company. Based on data from MarketBeat, Mineralys Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $49.14.

Mineralys Therapeutics Trading Down 1.8%

NASDAQ MLYS opened at $25.73 on Tuesday. Mineralys Therapeutics, Inc. has a 1-year low of $10.44 and a 1-year high of $47.65. The stock has a 50-day moving average of $30.25 and a 200-day moving average of $35.73. The firm has a market cap of $2.12 billion, a PE ratio of -10.86 and a beta of 0.57.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings results on Thursday, March 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.17. As a group, equities research analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Adam Scott Levy sold 10,758 shares of the company’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $32.14, for a total transaction of $345,762.12. Following the completion of the sale, the chief financial officer directly owned 8,638 shares in the company, valued at $277,625.32. This represents a 55.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider David Malcom Rodman sold 14,058 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $26.26, for a total transaction of $369,163.08. Following the sale, the insider directly owned 76,140 shares of the company’s stock, valued at $1,999,436.40. The trade was a 15.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 363,325 shares of company stock valued at $12,298,347. 33.24% of the stock is currently owned by company insiders.

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.