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

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) major shareholder Samsara Biocapital Gp, Llc purchased 600,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $13.50 per share, with a total value of $8,100,000.00. Following the completion of the acquisition, the insider now owns 5,674,916 shares of the company’s stock, valued at approximately $76,611,366. This trade represents a 11.82 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Mineralys Therapeutics Stock Performance

Mineralys Therapeutics stock opened at $15.43 on Wednesday. Mineralys Therapeutics, Inc. has a one year low of $8.24 and a one year high of $18.29. The business has a fifty day moving average of $10.50 and a two-hundred day moving average of $11.97. The company has a market cap of $768.97 million, a P/E ratio of -4.24 and a beta of 1.50.

Mineralys Therapeutics (NASDAQ:MLYS) last released its earnings results on Wednesday, February 12th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02. Sell-side analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. increased its position in shares of Mineralys Therapeutics by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company’s stock valued at $130,000 after buying an additional 989 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Mineralys Therapeutics by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 214,906 shares of the company’s stock valued at $2,645,000 after buying an additional 1,307 shares in the last quarter. Northern Trust Corp increased its position in shares of Mineralys Therapeutics by 0.7% in the fourth quarter. Northern Trust Corp now owns 246,113 shares of the company’s stock valued at $3,030,000 after buying an additional 1,688 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Mineralys Therapeutics by 2.7% in the fourth quarter. Bank of New York Mellon Corp now owns 65,318 shares of the company’s stock valued at $804,000 after buying an additional 1,711 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Mineralys Therapeutics by 19.1% in the fourth quarter. Wells Fargo & Company MN now owns 23,714 shares of the company’s stock valued at $292,000 after buying an additional 3,802 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MLYS shares. The Goldman Sachs Group decreased their price target on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Guggenheim reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, February 24th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Mineralys Therapeutics in a report on Monday, March 10th.

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.