Lion Point Capital LP grew its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS – Free Report) by 31.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 79,000 shares of the company’s stock after acquiring an additional 19,000 shares during the quarter. Mineralys Therapeutics comprises 1.7% of Lion Point Capital LP’s investment portfolio, making the stock its 12th biggest holding. Lion Point Capital LP owned about 0.16% of Mineralys Therapeutics worth $924,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. grew its position in Mineralys Therapeutics by 55.4% in the 4th quarter. Franklin Resources Inc. now owns 699,467 shares of the company’s stock valued at $6,015,000 after buying an additional 249,450 shares during the last quarter. NEOS Investment Management LLC acquired a new stake in shares of Mineralys Therapeutics in the fourth quarter valued at about $206,000. Pale Fire Capital SE acquired a new stake in shares of Mineralys Therapeutics during the 4th quarter valued at approximately $299,000. Catalys Pacific LLC purchased a new stake in shares of Mineralys Therapeutics during the 4th quarter worth approximately $79,073,000. Finally, PNC Financial Services Group Inc. increased its stake in Mineralys Therapeutics by 17,821.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,122 shares of the company’s stock valued at $35,000 after purchasing an additional 4,099 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.
Mineralys Therapeutics Stock Up 1.0 %
NASDAQ MLYS opened at $11.99 on Friday. The stock has a market cap of $596.26 million, a price-to-earnings ratio of -5.47 and a beta of 1.93. Mineralys Therapeutics, Inc. has a fifty-two week low of $5.85 and a fifty-two week high of $16.91. The business has a fifty day moving average of $11.85 and a 200-day moving average of $12.41.
Insider Buying and Selling
In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $13.14, for a total value of $141,346.98. Following the completion of the transaction, the chief financial officer now directly owns 247,611 shares in the company, valued at approximately $3,253,608.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $13.14, for a total value of $141,346.98. Following the completion of the sale, the chief financial officer now owns 247,611 shares in the company, valued at approximately $3,253,608.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Taylor Slingsby sold 550,000 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $13.05, for a total transaction of $7,177,500.00. Following the transaction, the director now owns 8,644,579 shares in the company, valued at $112,811,755.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 577,028 shares of company stock worth $7,536,774. 33.24% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Separately, HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Mineralys Therapeutics in a research report on Thursday, August 15th.
Check Out Our Latest Stock Report on MLYS
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.
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