Ra Capital Healthcare Fund buys Mineralys Therapeutics shares for $30m

On September 4, 2025, RA Capital Healthcare Fund LP acquired 1,176,470 shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) common stock at a price of $25.50 per share, for a total transaction value of $29,999,985. The stock, currently trading at $35.93, has seen remarkable momentum with a 132% gain in the past week alone, approaching its 52-week high of $36.73. According to InvestingPro analysis, the company, now valued at $2.65 billion, appears overvalued relative to its Fair Value.

Following the transaction, RA Capital Healthcare Fund LP directly holds 5,456,521 shares of Mineralys Therapeutics . RA Capital Nexus Fund III, L.P. directly holds 1,867,229 shares. The company maintains strong financial health with a current ratio of 15.12, indicating robust liquidity. InvestingPro subscribers can access 15 additional key insights about MLYS’s financial position and market performance.

RA Capital Management, L.P. is the investment manager for the Fund and RA Capital Nexus Fund III, L.P. The general partner of the Adviser is RA Capital Management GP, LLC, of which Dr. Peter Kolchinsky and Mr. Rajeev Shah are the managing members. The Adviser, the Adviser GP, the Fund, the Nexus Fund III, Dr. Kolchinsky, and Mr. Shah disclaim beneficial ownership of any of the reported securities, except to the extent of their pecuniary interest therein.

Dr. Derek DiRocco, a Partner of the Adviser, serves on the Issuer’s board of directors.

In other recent news, Mineralys Therapeutics, Inc. reported positive subgroup data from its Phase 3 Launch-HTN trial, showcasing significant blood pressure reductions with its aldosterone synthase inhibitor, lorundrostat. This data was presented at the American Heart Association Hypertension Scientific Sessions and highlighted consistent efficacy across various high-risk subgroups. Additionally, the company successfully closed a public offering, raising approximately $287.5 million in gross proceeds. This offering included the sale of over 11 million shares of common stock at $25.50 per share. H.C. Wainwright reiterated its Buy rating on Mineralys, citing the potential of lorundrostat, and maintained a price target of $42.00. Meanwhile, Jefferies adjusted its price target for Mineralys to $26.00 from $15.00, while keeping a Hold rating. This adjustment followed a notable increase in Mineralys’ stock price, influenced by competitor AstraZeneca’s recent data presentation. Furthermore, Mineralys has launched a $175 million public stock offering to support the development of lorundrostat, including research and pre-commercialization activities.

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