Ikarian Capital LLC Makes New $2.18 Million Investment in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Ikarian Capital LLC acquired a new position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 180,000 shares of the company’s stock, valued at approximately $2,180,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its holdings in Mineralys Therapeutics by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock worth $116,000 after purchasing an additional 3,732 shares during the last quarter. Vanguard Group Inc. raised its holdings in Mineralys Therapeutics by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 982,932 shares of the company’s stock worth $12,690,000 after purchasing an additional 4,952 shares during the last quarter. Federated Hermes Inc. raised its holdings in Mineralys Therapeutics by 100.0% during the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock worth $140,000 after purchasing an additional 6,000 shares during the last quarter. Verition Fund Management LLC increased 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 acquiring an additional 6,408 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Mineralys Therapeutics in the 3rd quarter valued at about $110,000. 84.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider David Malcom Rodman sold 25,482 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $15.03, for a total transaction of $382,994.46. Following the completion of the sale, the insider now directly owns 135,974 shares of the company’s stock, valued at approximately $2,043,689.22. This represents a 15.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jon Congleton sold 15,271 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $13.52, for a total value of $206,463.92. Following the sale, the chief executive officer now directly owns 895,941 shares of the company’s stock, valued at approximately $12,113,122.32. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 51,510 shares of company stock valued at $735,431. 33.24% of the stock is owned by corporate insiders.

Mineralys Therapeutics Stock Performance

Shares of MLYS stock traded down $0.29 on Tuesday, reaching $13.20. The company had a trading volume of 7,353 shares, compared to its average volume of 180,148. The company has a 50-day moving average of $13.19 and a 200-day moving average of $12.58. Mineralys Therapeutics, Inc. has a 12 month low of $6.38 and a 12 month high of $16.91.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Monday, November 11th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.30). During the same quarter in the prior year, the company earned ($0.57) earnings per share. As a group, sell-side analysts expect that Mineralys Therapeutics, Inc. will post -3.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Mineralys Therapeutics in a research note on Tuesday, November 12th.

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.