Profund Advisors LLC Purchases 39,768 Shares of Mineralys Therapeutics, Inc. $MLYS

Profund Advisors LLC increased its position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 548.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,024 shares of the company’s stock after buying an additional 39,768 shares during the period. Profund Advisors LLC owned 0.06% of Mineralys Therapeutics worth $1,707,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MLYS. Navalign LLC bought a new stake in Mineralys Therapeutics in the 4th quarter worth approximately $33,000. Smartleaf Asset Management LLC grew its holdings in shares of Mineralys Therapeutics by 198.2% in the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock valued at $40,000 after purchasing an additional 676 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Mineralys Therapeutics by 14,091.3% in 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. Mirae Asset Global Investments Co. Ltd. increased its position in Mineralys Therapeutics by 50.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,846 shares of the company’s stock worth $140,000 after purchasing an additional 1,283 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Mineralys Therapeutics by 29.8% in the second quarter. The Manufacturers Life Insurance Company now owns 14,775 shares of the company’s stock worth $200,000 after purchasing an additional 3,390 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 14,058 shares of the company’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $26.54, for a total value of $373,099.32. Following the transaction, the insider owned 76,140 shares of the company’s stock, valued at $2,020,755.60. This represents a 15.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ra Capital Management, L.P. bought 310,700 shares of the firm’s stock in a transaction dated Friday, March 27th. The shares were acquired at an average price of $23.67 per share, with a total value of $7,354,269.00. Following the completion of the transaction, the director owned 5,767,221 shares of the company’s stock, valued at approximately $136,510,121.07. The trade was a 5.69% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 162,291 shares of company stock worth $4,353,683 in the last 90 days. 18.94% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on MLYS shares. TD Cowen began coverage on shares of Mineralys Therapeutics in a research report on Monday, April 27th. They set a “buy” rating for the company. Jefferies Financial Group restated a “hold” rating and issued a $30.00 target price on shares of Mineralys Therapeutics in a report on Friday, March 13th. HC Wainwright set a $56.00 price target on shares of Mineralys Therapeutics and gave the company a “buy” rating in a report on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Tuesday, April 21st. Finally, Bank of America lifted their target price on Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Mineralys Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

Mineralys Therapeutics Trading Up 9.2%

Shares of NASDAQ:MLYS opened at $28.43 on Thursday. Mineralys Therapeutics, Inc. has a 12 month low of $12.59 and a 12 month high of $47.65. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -13.87 and a beta of 0.49. The firm’s 50-day moving average is $27.07 and its 200 day moving average is $32.28.

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

Mineralys Therapeutics 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.