CenterBook Partners LP Takes Position in Mineralys Therapeutics, Inc. $MLYS

CenterBook Partners LP purchased a new position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 26,000 shares of the company’s stock, valued at approximately $944,000.

Several other institutional investors have also recently added to or reduced their stakes in MLYS. 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. grew its stake in Mineralys Therapeutics by 29.8% in 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 in the last quarter. Citigroup Inc. increased its holdings in Mineralys Therapeutics by 501.7% in the third quarter. Citigroup Inc. now owns 163,168 shares of the company’s stock valued at $6,187,000 after buying an additional 136,050 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in Mineralys Therapeutics by 234.4% in the fourth quarter. Jennison Associates LLC now owns 1,258,653 shares of the company’s stock valued at $45,677,000 after buying an additional 882,307 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Jon Congleton sold 15,730 shares of Mineralys Therapeutics stock in a transaction on Monday, April 13th. The stock was sold at an average price of $26.83, for a total value of $422,035.90. Following the transaction, the chief executive officer directly owned 689,321 shares in the company, valued at $18,494,482.43. The trade was a 2.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daphne Karydas sold 3,000 shares of the company’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $25.00, for a total value of $75,000.00. Following 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 153,772 shares of company stock valued at $4,121,668. 18.94% of the stock is owned by insiders.

Analyst Ratings Changes

MLYS has been the topic of several research reports. Jefferies Financial Group restated a “hold” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. Bank of America lifted their price objective on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, March 13th. TD Cowen assumed coverage on shares of Mineralys Therapeutics in a research note on Monday, April 27th. They set a “buy” rating on the stock. Finally, Wall Street Zen lowered Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.33.

Mineralys Therapeutics Trading Down 1.7%

MLYS stock opened at $23.76 on Thursday. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of -11.59 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. The firm’s 50-day moving average is $27.94 and its two-hundred day moving average is $30.78.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly 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. On average, equities research analysts predict that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current year.

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.