Armistice Capital LLC Increases Position in Mineralys Therapeutics, Inc. $MLYS

Armistice Capital LLC increased its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 33.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 676,035 shares of the company’s stock after acquiring an additional 168,385 shares during the quarter. Armistice Capital LLC owned approximately 0.85% of Mineralys Therapeutics worth $24,533,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Hudson Bay Capital Management LP bought a new stake in shares of Mineralys Therapeutics in the 3rd quarter worth about $2,873,000. SG Americas Securities LLC lifted its position in shares of Mineralys Therapeutics by 130.7% during the fourth quarter. SG Americas Securities LLC now owns 230,795 shares of the company’s stock worth $8,376,000 after purchasing an additional 130,758 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Mineralys Therapeutics by 29.8% during the third quarter. Vanguard Group Inc. now owns 3,018,999 shares of the company’s stock worth $114,480,000 after purchasing an additional 692,550 shares during the last quarter. Citigroup Inc. grew its stake in Mineralys Therapeutics by 501.7% in the third quarter. Citigroup Inc. now owns 163,168 shares of the company’s stock worth $6,187,000 after purchasing an additional 136,050 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in Mineralys Therapeutics by 234.4% in the fourth quarter. Jennison Associates LLC now owns 1,258,653 shares of the company’s stock worth $45,677,000 after purchasing an additional 882,307 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Buying and Selling at Mineralys Therapeutics

In other news, Director Daphne Karydas sold 3,000 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $25.00, for a total transaction of $75,000.00. Following the completion of the transaction, the director owned 6,200 shares of the company’s stock, valued at approximately $155,000. The trade was a 32.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Malcom Rodman sold 4,584 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $25.00, for a total transaction of $114,600.00. Following the transaction, the insider directly owned 57,095 shares of the company’s stock, valued at approximately $1,427,375. This trade represents a 7.43% 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. Over the last three months, insiders have sold 165,707 shares of company stock worth $4,383,768. 18.94% of the stock is owned by insiders.

Mineralys Therapeutics Trading Up 4.8%

NASDAQ:MLYS opened at $25.13 on Thursday. The stock has a 50 day moving average of $27.64 and a 200-day moving average of $30.13. The firm has a market capitalization of $2.07 billion, a PE ratio of -12.26 and a beta of 0.57. Mineralys Therapeutics, Inc. has a 52 week low of $12.59 and a 52 week high of $47.65.

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

Analyst Ratings Changes

MLYS has been the topic of a number of research analyst reports. TD Cowen initiated coverage on Mineralys Therapeutics in a report on Monday, April 27th. They set a “buy” rating on the stock. HC Wainwright reissued a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Tuesday, April 21st. Jefferies Financial Group reaffirmed a “hold” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Finally, Wall Street Zen lowered shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.33.

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.