Nantahala Capital Management LLC Buys Shares of 820,481 Mineralys Therapeutics, Inc. $MLYS

Nantahala Capital Management LLC purchased a new position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 820,481 shares of the company’s stock, valued at approximately $22,136,577.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Mineralys Therapeutics during the 2nd quarter valued at about $158,832,000. State Street Corp lifted its holdings in Mineralys Therapeutics by 144.4% in the 4th quarter. State Street Corp now owns 3,184,999 shares of the company’s stock worth $115,584,000 after purchasing an additional 1,881,976 shares during the last quarter. Bank of America Corp DE acquired a new stake in Mineralys Therapeutics in the 2nd quarter worth approximately $40,620,000. Price T Rowe Associates Inc. MD boosted its position in Mineralys Therapeutics by 6,097.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,325,120 shares of the company’s stock worth $48,089,000 after purchasing an additional 1,303,737 shares during the period. Finally, Janus Henderson Group PLC boosted its position in Mineralys Therapeutics by 6,012.8% during the fourth quarter. Janus Henderson Group PLC now owns 1,213,265 shares of the company’s stock worth $44,005,000 after purchasing an additional 1,193,417 shares during the period. Institutional investors own 84.46% of the company’s stock.

Insiders Place Their Bets

In other news, Director Daphne Karydas sold 3,000 shares of the stock in a transaction that occurred 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 approximately $155,000. This represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 104,124 shares of the firm’s 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 sale, the insider owned 38,400 shares in the company, valued at approximately $994,560. The trade was a 73.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 224,333 shares of company stock valued at $5,806,213 in the last three months. 18.94% of the stock is owned by corporate insiders.

Mineralys Therapeutics Price Performance

NASDAQ MLYS opened at $25.60 on Friday. Mineralys Therapeutics, Inc. has a twelve month low of $14.94 and a twelve month high of $47.65. The company has a debt-to-equity ratio of 0.18, a quick ratio of 34.46 and a current ratio of 34.46. The stock has a market capitalization of $2.26 billion, a PE ratio of -6.04 and a beta of 0.68. The stock has a 50-day simple moving average of $26.88 and a 200 day simple moving average of $27.17.

Mineralys Therapeutics (NASDAQ:MLYS) last released its earnings results on Wednesday, August 12th. The company reported ($2.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($2.30). Research analysts anticipate that Mineralys Therapeutics, Inc. will post -4.45 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wall Street Zen downgraded Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. HC Wainwright restated a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Jefferies Financial Group reaffirmed a “hold” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Zacks Research lowered shares of Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $49.33.

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.