Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Major Shareholder Samsara Biocapital Gp, Llc Purchases 600,000 Shares

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) major shareholder Samsara Biocapital Gp, Llc acquired 600,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $13.50 per share, with a total value of $8,100,000.00. Following the transaction, the insider now owns 5,674,916 shares in the company, valued at $76,611,366. This represents a 11.82 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mineralys Therapeutics Trading Up 8.5 %

Shares of NASDAQ:MLYS opened at $15.43 on Wednesday. The stock’s 50-day moving average price is $10.50 and its two-hundred day moving average price is $11.97. Mineralys Therapeutics, Inc. has a 12-month low of $8.24 and a 12-month high of $18.29. The firm has a market cap of $768.97 million, a price-to-earnings ratio of -4.24 and a beta of 1.50.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.02. As a group, research analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. The Goldman Sachs Group dropped their price objective on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Mineralys Therapeutics in a research report on Monday, March 10th. Finally, Guggenheim reiterated a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, February 24th.

Institutional Trading of Mineralys Therapeutics

A number of hedge funds have recently added to or reduced their stakes in MLYS. Jennison Associates LLC boosted its stake in Mineralys Therapeutics by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 696,280 shares of the company’s stock worth $8,432,000 after buying an additional 13,023 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Mineralys Therapeutics by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 213,599 shares of the company’s stock valued at $2,587,000 after purchasing an additional 9,664 shares in the last quarter. FMR LLC lifted its stake in shares of Mineralys Therapeutics by 12.0% in the 3rd quarter. FMR LLC now owns 303,758 shares of the company’s stock valued at $3,679,000 after purchasing an additional 32,663 shares in the last quarter. Martingale Asset Management L P acquired a new position in shares of Mineralys Therapeutics in the 3rd quarter valued at about $181,000. Finally, Verition Fund Management LLC lifted its stake in shares of Mineralys Therapeutics by 30.6% in the 3rd quarter. Verition Fund Management LLC now owns 27,361 shares of the company’s stock valued at $331,000 after purchasing an additional 6,408 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

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.