Polar Asset Management Partners Inc. Takes $490,000 Position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Polar Asset Management Partners Inc. purchased a new stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) in the third quarter, according to its most recent filing with the SEC. The fund purchased 40,500 shares of the company's stock, valued at approximately $490,000. Polar Asset Management Partners Inc. owned about 0.08% of Mineralys Therapeutics at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Ikarian Capital LLC bought a new stake in shares of Mineralys Therapeutics in the 3rd quarter valued at approximately $2,180,000. Caligan Partners LP increased its holdings in shares of Mineralys Therapeutics by 31.6% in the 3rd quarter. Caligan Partners LP now owns 981,155 shares of the company's stock valued at $11,882,000 after acquiring an additional 235,397 shares during the last quarter. PDT Partners LLC bought a new stake in shares of Mineralys Therapeutics in the 3rd quarter valued at approximately $148,000. Verition Fund Management LLC grew its stake in Mineralys Therapeutics by 30.6% during the 3rd quarter. Verition Fund Management LLC now owns 27,361 shares of the company's stock worth $331,000 after buying an additional 6,408 shares during the last quarter. Finally, Martingale Asset Management L P bought a new position in Mineralys Therapeutics during the 3rd quarter worth $181,000. 84.46% of the stock is currently owned by institutional investors.

Insider Transactions at Mineralys Therapeutics

In other news, insider David Malcom Rodman sold 25,482 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $15.03, for a total value of $382,994.46. Following the completion of the sale, the insider now owns 135,974 shares in the company, valued at $2,043,689.22. This represents a 15.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Adam Scott Levy sold 10,757 shares of the company's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $13.57, for a total value of $145,972.49. Following the completion of the sale, the chief financial officer now owns 236,854 shares of the company's stock, valued at approximately $3,214,108.78. This trade represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,510 shares of company stock valued at $735,431. 33.24% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a "buy" rating and set a $30.00 price objective on shares of Mineralys Therapeutics in a research note on Tuesday, November 12th.

Mineralys Therapeutics Trading Up 8.1 %

Shares of NASDAQ:MLYS traded up $0.99 on Friday, hitting $13.21. The company's stock had a trading volume of 165,094 shares, compared to its average volume of 232,992. Mineralys Therapeutics, Inc. has a 12 month low of $6.38 and a 12 month high of $16.91. The stock's 50-day moving average is $13.26 and its two-hundred day moving average is $12.58.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its quarterly earnings results on Monday, November 11th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.30). During the same period in the prior year, the company earned ($0.57) earnings per share. Equities analysts predict that Mineralys Therapeutics, Inc. will post -3.63 earnings per share for the current year.

Mineralys Therapeutics Company 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.