5 Struggling IPOs To Buy For The Long-Term

Page 5 of 5

1. Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Number of Hedge Fund Shareholders: 24

IPO Price: $16.00

Current Price (as of June 9): $15.34

Topping the list of struggling IPOs to buy for the long-term is Mineralys Therapeutics, Inc. (NASDAQ:MLYS), which counted 24 of the hedge funds tracked by Insider Monkey’s database as shareholders as of March 31. The top shareholder of the company is Srini Akkaraju and Michael Dybbs’ Samsara BioCapital, while Peter Kolchinsky’s RA Capital Management also holds a large MLYS position.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) is a clinical-stage biopharmaceutical company focused on developing treatments that target elevated levels of aldosterone, which typically result in high blood pressure and low potassium levels. The company recently dosed its first patient in a trial for lorundrostat in patients with uncontrolled or resistant hypertension.

Several firms have ‘Buy’ ratings and bullish price targets on Mineralys Therapeutics, Inc. (NASDAQ:MLYS) given their optimism about the potential for the company’s treatments. Bank of America has a $39 price target on the stock and predicts $2.4 billion in sales of lorundrostat by 2035, while Guggenheim has a $32 price target and sees “multibillion dollar” potential for aldosterone synthase inhibitors like lorundrostat.

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. For more of the latest stock picks worth considering for your portfolio, check out 10 Most Popular Stocks on Robinhood and 12 Hot Stocks to Buy According to Hedge Funds.

Disclosure: None.

Follow Insider Monkey on Twitter

Page 5 of 5