Samsara Biocapital Gp, Llc Acquires 600,000 Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) major shareholder Samsara Biocapital Gp, Llc acquired 600,000 shares of Mineralys Therapeutics stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $13.50 per share, with a total value of $8,100,000.00. Following the completion of the purchase, the insider now owns 5,674,916 shares of the company’s stock, valued at approximately $76,611,366. This represents a 11.82 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mineralys Therapeutics Stock Performance

Shares of NASDAQ:MLYS opened at $14.22 on Tuesday. The firm has a fifty day moving average price of $10.45 and a 200 day moving average price of $11.94. Mineralys Therapeutics, Inc. has a fifty-two week low of $8.24 and a fifty-two week high of $18.29. The firm has a market cap of $708.67 million, a price-to-earnings ratio of -3.91 and a beta of 1.50.

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

Hedge Funds Weigh In On Mineralys Therapeutics

Several institutional investors have recently bought and sold shares of MLYS. Jennison Associates LLC lifted its position in Mineralys Therapeutics by 1.9% during the third quarter. Jennison Associates LLC now owns 696,280 shares of the company’s stock valued at $8,432,000 after purchasing an additional 13,023 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Mineralys Therapeutics by 4.7% during the third 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 during the last quarter. FMR LLC lifted its position in Mineralys Therapeutics by 12.0% during the third 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 during the last quarter. Martingale Asset Management L P bought a new position in Mineralys Therapeutics during the third quarter valued at $181,000. Finally, Verition Fund Management LLC lifted its position in Mineralys Therapeutics by 30.6% during the third 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 during the last quarter. Institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

MLYS has been the subject of a number of analyst reports. Guggenheim reissued a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Mineralys Therapeutics in a research report on Monday, March 10th. Finally, The Goldman Sachs Group dropped their target price on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, February 13th.

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.