EntryPoint Capital LLC Makes New Investment in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

EntryPoint Capital LLC purchased a new position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,487 shares of the company’s stock, valued at approximately $154,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Polar Asset Management Partners Inc. purchased a new position in Mineralys Therapeutics in the 3rd quarter worth $490,000. Jennison Associates LLC lifted its holdings in shares of Mineralys Therapeutics by 55.4% during the fourth quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock worth $13,319,000 after purchasing an additional 385,726 shares during the period. Barclays PLC boosted its position in Mineralys Therapeutics by 281.8% in the third quarter. Barclays PLC now owns 38,218 shares of the company’s stock valued at $463,000 after buying an additional 28,208 shares during the last quarter. Wellington Management Group LLP acquired a new position in Mineralys Therapeutics in the 3rd quarter worth approximately $775,000. Finally, State Street Corp raised its position in Mineralys Therapeutics by 4.0% during the 3rd quarter. State Street Corp now owns 483,766 shares of the company’s stock worth $5,858,000 after buying an additional 18,627 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Samsara Biocapital Gp, Llc purchased 600,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price of $13.50 per share, with a total value of $8,100,000.00. Following the acquisition, the insider now owns 5,674,916 shares in the company, valued at $76,611,366. The trade was a 11.82 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Adam Scott Levy sold 10,757 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $9.10, for a total transaction of $97,888.70. Following the transaction, the chief financial officer now directly owns 226,097 shares in the company, valued at approximately $2,057,482.70. The trade was a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 33.24% of the stock is currently owned by company insiders.

Mineralys Therapeutics Stock Performance

Shares of NASDAQ MLYS opened at $14.66 on Friday. Mineralys Therapeutics, Inc. has a 1 year low of $8.24 and a 1 year high of $18.38. The company’s fifty day moving average price is $11.49 and its 200 day moving average price is $12.20. The company has a market capitalization of $920.43 million, a PE ratio of -4.03 and a beta of 1.50.

Mineralys Therapeutics (NASDAQ:MLYS) last posted 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. On average, equities analysts expect that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Mineralys Therapeutics in a research note on Monday, March 10th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, February 24th.

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.