Mineralys Therapeutics (MLYS)


Market Price (10/6/2026): $23.59 | Market Cap: $2.0 BilSector: Health Care | Industry: Biotechnology

Mineralys Therapeutics (MLYS)


Market Price (10/6/2026): $23.59
Market Cap: $2.0 Bil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -34%

Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, and Cardiorenal Therapeutics.

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%

Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -371 Mil

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -22%

Key risks
MLYS key risks include [1] its complete dependence on the clinical and regulatory success of its sole drug candidate, Show more.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -34%
1 Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, and Cardiorenal Therapeutics.
2 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%
3 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -371 Mil
5 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -22%
6 Key risks
MLYS key risks include [1] its complete dependence on the clinical and regulatory success of its sole drug candidate, Show more.

MLYS in ETFs

Weight = MLYS's share of each fund

VTI0.00%
ITOT0.00%
IWM0.05%
XBI0.34%
IBB0.10%
IWO0.09%
ESML0.05%
VTWO0.05%
+7 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/1/2026

Mineralys Therapeutics (MLYS) stock has lost about 15% since 6/30/2026 because of the following key factors:

1. Underwhelming Fiscal Q2 2026 Earnings Report. Mineralys Therapeutics reported an adjusted loss of $2.85 per share for fiscal Q2 2026 on August 12, 2026. This significantly missed the consensus estimate of a $0.55 loss per share by $2.30, representing a 400.00% negative earnings surprise.

2. Broader Macroeconomic Headwinds Impacting Growth and Biotech Stocks. In September 2026, a general market weakness emerged, particularly affecting growth and biotechnology stocks, due to surging Treasury yields, with the 5-year yield topping 5% for the first time since 2007.

Show more
Updated on 10/1/2026

Mineralys Therapeutics (MLYS) stock has lost about 15% since 6/30/2026 because of the following key factors:

1. Underwhelming Fiscal Q2 2026 Earnings Report. Mineralys Therapeutics reported an adjusted loss of $2.85 per share for fiscal Q2 2026 on August 12, 2026. This significantly missed the consensus estimate of a $0.55 loss per share by $2.30, representing a 400.00% negative earnings surprise.

2. Broader Macroeconomic Headwinds Impacting Growth and Biotech Stocks. In September 2026, a general market weakness emerged, particularly affecting growth and biotechnology stocks, due to surging Treasury yields, with the 5-year yield topping 5% for the first time since 2007.

3. Lingering Commercialization Concerns for Lorundrostat Amidst Competition. Despite positive clinical trial data for lorundrostat and an anticipated New Drug Application (NDA) submission with a Prescription Drug User Fee Act (PDUFA) target date of December 22, 2026, investor concerns persist regarding the commercial revenue potential of the drug. These concerns include challenges related to market size, penetration rates, and pricing strategies, further compounded by the market entry of AstraZeneca's competing drug, baxdrostat.

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Stock Movement Drivers

Fundamental Drivers

The -13.6% change in MLYS stock from 6/30/2026 to 10/5/2026 was primarily driven by a -2.2% change in the company's Shares Outstanding (Mil).
(LTM values as of)630202610052026Change
Stock Price ($)26.9823.30-13.6%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)8385-2.2%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/5/2026
ReturnCorrelation
MLYS-13.6% 
Market (SPY)3.8%11.7%
Sector (XLV)5.5%16.9%

Fundamental Drivers

The -14.0% change in MLYS stock from 3/31/2026 to 10/5/2026 was primarily driven by a -4.1% change in the company's Shares Outstanding (Mil).
(LTM values as of)331202610052026Change
Stock Price ($)27.0923.30-14.0%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)8185-4.1%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/5/2026
ReturnCorrelation
MLYS-14.0% 
Market (SPY)19.4%17.3%
Sector (XLV)14.7%10.6%

Fundamental Drivers

The -38.6% change in MLYS stock from 9/30/2025 to 10/5/2026 was primarily driven by a -22.8% change in the company's Shares Outstanding (Mil).
(LTM values as of)930202510052026Change
Stock Price ($)37.9223.30-38.6%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)6585-22.8%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/5/2026
ReturnCorrelation
MLYS-38.6% 
Market (SPY)17.3%24.9%
Sector (XLV)21.8%18.4%

Fundamental Drivers

The 145.0% change in MLYS stock from 9/30/2023 to 10/5/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)930202310052026Change
Stock Price ($)9.5123.30145.0%
Change Contribution By: 
Total Revenues ($ Mil)�00.0%
P/S Multiple�∞0.0%
Shares Outstanding (Mil)585-93.9%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/5/2026
ReturnCorrelation
MLYS145.0% 
Market (SPY)87.5%16.7%
Sector (XLV)36.1%15.3%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
MLYS Return---53%43%195%-35%28%
Peers Return7%22%12%110%47%-9%309%
S&P 500 Return27%-19%24%23%16%13%106%

Monthly Win Rates [3]
MLYS Win Rate--27%50%58%20% 
Peers Win Rate42%50%53%37%55%40% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
MLYS Max Drawdown----43%-33%-38% 
Peers Max Drawdown-46%-43%-40%-40%-38%-40% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: ALNY, IONS, CYTK, VTRS, SMMT.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/5/2026 (YTD)

How Low Can It Go

EventMLYSS&P 500
2024 Yen Carry Trade Unwind
  % Loss-30.3%-7.8%
  % Gain to Breakeven43.5%8.5%
  Time to Breakeven51 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-59.6%-9.5%
  % Gain to Breakeven147.8%10.5%
  Time to Breakeven85 days24 days
2023 SVB Regional Banking Crisis
  % Loss-30.6%-6.7%
  % Gain to Breakeven44.2%7.1%
  Time to Breakeven860 days31 days

Compare to ALNY, IONS, CYTK, VTRS, SMMT

In The Past

Mineralys Therapeutics's stock fell -6.0% during the 2025 US Tariff Shock. Such a loss loss requires a 6.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventMLYSS&P 500
2024 Yen Carry Trade Unwind
  % Loss-30.3%-7.8%
  % Gain to Breakeven43.5%8.5%
  Time to Breakeven51 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-59.6%-9.5%
  % Gain to Breakeven147.8%10.5%
  Time to Breakeven85 days24 days
2023 SVB Regional Banking Crisis
  % Loss-30.6%-6.7%
  % Gain to Breakeven44.2%7.1%
  Time to Breakeven860 days31 days

Compare to ALNY, IONS, CYTK, VTRS, SMMT

In The Past

Mineralys Therapeutics's stock fell -6.0% during the 2025 US Tariff Shock. Such a loss loss requires a 6.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Mineralys Therapeutics (MLYS)

Mineralys Therapeutics (MLYS) is a clinical-stage biopharmaceutical company dedicated to developing innovative medicines that target diseases driven by abnormally elevated aldosterone levels. Its primary product candidate is lorundrostat, a proprietary, orally administered, and highly selective aldosterone synthase inhibitor (ASI). This drug is designed to specifically reduce aldosterone production, addressing a key underlying factor in certain forms of hypertension, while aiming to avoid the significant off-target side effects that have hindered previous drug candidates in this class.

The company is initially focused on developing lorundrostat for patients with uncontrolled hypertension (uHTN) and resistant hypertension (rHTN). These are individuals who are unable to achieve target blood pressure levels despite taking multiple antihypertensive medications, representing a substantial unmet medical need. In the United States alone, over 30 million treated patients do not reach their blood pressure goals, with approximately 10.3 million suffering from resistant hypertension. These patient populations face significantly increased risks of cardiovascular disease, stroke, and kidney disease.

Mineralys Therapeutics aims to capitalize on the critical need for new antihypertensive therapies, particularly given the lack of novel FDA-approved classes in the last fifteen years. By leveraging lorundrostat's high selectivity, the company seeks to overcome the historical challenges in developing effective ASIs. Beyond hypertension, Mineralys plans to expand lorundrostat's potential applications to include chronic kidney disease (CKD), positioning it as a versatile solution for a range of cardiorenal disorders.

AI Analysis | Feedback

Here are 1-3 brief analogies for Mineralys Therapeutics (MLYS):

  • The **Novo Nordisk** for uncontrolled hypertension, bringing a new class of drug to a massive market where existing treatments fall short.
  • The **Vertex Pharmaceuticals** for resistant hypertension, developing a breakthrough treatment for a widespread, difficult-to-manage condition.

AI Analysis | Feedback

  • lorundrostat: An orally administered, highly selective aldosterone synthase inhibitor (ASI) initially being developed for the treatment of uncontrolled and resistant hypertension, with potential future development for chronic kidney disease.

AI Analysis | Feedback

Mineralys Therapeutics (MLYS) is a clinical-stage biopharmaceutical company. This means that their primary product candidate, lorundrostat, is still in development and has not yet received regulatory approval (e.g., from the FDA) for commercial sale. As such, Mineralys Therapeutics does not currently have major customers, as they are not generating revenue from the sale of their drug. Their activities are focused on clinical trials and research and development for future commercialization.

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Jon Congleton, President & Chief Executive Officer
Mr. Congleton was appointed CEO in November 2020. He brings over 30 years of experience in biopharmaceutical company leadership, including pipeline development, commercial strategy, and general management. His prior leadership roles include serving as CEO of Impel NeuroPharma (2017–2020) and Nivalis Therapeutics (2015–2017). At Nivalis Therapeutics, he successfully executed the company's initial public offerings. He also spent 18 years in senior commercial roles at Teva Pharmaceutical Industries, where he was part of the original team responsible for launching Copaxone. Mr. Congleton is also an Operating Partner with Catalys Pacific, a firm that founded Mineralys Therapeutics and participated in its Series A funding.

Adam Levy, Chief Financial Officer and Chief Business Officer
Mr. Levy was appointed CFO and CBO in March 2022. He has over two decades of operational and transactional expertise in biotech and investment banking. Before joining Mineralys, he was the CFO at Sanifit Therapeutics until its acquisition by Vifor Pharma in 2022. His previous experience includes serving as CBO at Brickell Biotech Inc., where he managed the financial operations transition for its Nasdaq listing, and as CBO at miRagen Therapeutics, Inc., where he led business development transactions and capital raises, including a Nasdaq listing. Earlier in his career, Mr. Levy held various investment banking positions at firms such as Merrill Lynch, Pierce, Fenner & Smith, Jefferies Group, and Wedbush Securities, where he completed over $30 billion in financings and M&A transactions.

Dr. David Rodman, Chief Medical Officer
Dr. Rodman joined Mineralys Therapeutics as Chief Medical Officer. He possesses extensive experience as an industry and academic leader, with more than 15 years in leadership roles within the pharmaceutical and biotechnology industries, preceded by 15 years of academic medical experience.

Eric Warren, Chief Commercial Officer
Mr. Warren serves as the Chief Commercial Officer for Mineralys Therapeutics.

Dr. Brian Taylor Slingsby, Founder and Executive Director
Dr. Slingsby is a Founder and Executive Director of Mineralys Therapeutics. He is also a Managing Partner at Catalys Pacific, the founding investment firm behind Mineralys Therapeutics.

AI Analysis | Feedback

  1. Challenges in Aldosterone Synthase Inhibitor (ASI) Development: A key risk for Mineralys Therapeutics stems from the historical difficulties encountered by numerous other large pharmaceutical companies in developing effective aldosterone synthase inhibitors. The company's background explicitly notes that prior efforts have been hampered by insufficient selectivity for aldosterone, leading to off-target toxicities associated with cortisol inhibition, and issues related to aldosterone’s role in regulating potassium. These challenges have resulted in the discontinuation of many ASIs in development, underscoring the inherent scientific hurdles that Mineralys's product candidate, lorundrostat, must successfully overcome to achieve regulatory approval and commercial success.
  2. Clinical Development and Regulatory Approval Risk: As a clinical-stage biopharmaceutical company, Mineralys Therapeutics's success is entirely dependent on the successful advancement, regulatory approval, and eventual commercialization of its sole product candidate, lorundrostat. While lorundrostat has demonstrated promising results in a Phase 2 clinical trial, there is no guarantee of success in ongoing or future clinical trials, nor is there assurance that it will receive necessary approvals from regulatory bodies such as the U.S. Food and Drug Administration (FDA). The failure of lorundrostat at any stage of development, or delays in its approval process, would significantly jeopardize the company's business prospects.

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Mineralys Therapeutics' main product, lorundrostat, targets several significant addressable markets. For **uncontrolled and resistant hypertension**, the company identifies a combined addressable market of approximately 20 million patients in the United States. This population includes individuals who are unable to achieve blood pressure goals despite taking multiple antihypertensive medications. For **chronic kidney disease (CKD)**, which Mineralys Therapeutics intends to develop lorundrostat for, the market size was approximately $4.8 billion in 2024 across the 7 major markets (7MM), including the U.S., and is projected to grow. In 2024, there were about 82 million prevalent cases of CKD across these 7 major markets.

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Mineralys Therapeutics (MLYS) is expected to have several key drivers for future revenue growth over the next 2-3 years, primarily centered around its lead product candidate, lorundrostat: * U.S. Commercial Launch of Lorundrostat for Hypertension: The primary driver of future revenue growth is the anticipated U.S. commercial launch of lorundrostat for the treatment of adult hypertension. The U.S. Food and Drug Administration (FDA) accepted the New Drug Application (NDA) for lorundrostat and set a Prescription Drug User Fee Act (PDUFA) target action date of December 22, 2026. This follows the successful completion of five positive clinical trials, including pivotal Phase 3 studies (Advance-HTN and Launch-HTN), which consistently demonstrated clinically meaningful reductions in blood pressure and a favorable safety profile for patients with uncontrolled or resistant hypertension. The company is actively preparing for this launch by engaging in market access planning, payer engagement, and building out its commercial and medical affairs infrastructure to ensure rapid uptake post-approval. There is a significant market opportunity, with over 20 million patients in the U.S. suffering from uncontrolled and resistant hypertension. * Expansion of Lorundrostat into Chronic Kidney Disease (CKD): Mineralys Therapeutics intends to develop lorundrostat for the treatment of chronic kidney disease (CKD), presenting a significant opportunity for market expansion beyond hypertension. Positive Phase 2 results from the Explore-CKD trial, which showed a reduction in Urine Albumin-to-Creatinine Ratio (UACR), support the potential of lorundrostat in this indication. Successful clinical development and subsequent regulatory approval for CKD would significantly broaden lorundrostat's patient base and revenue potential. * Strategic Partnerships for Ex-U.S. Commercialization: The company is evaluating opportunities for ex-U.S. regulatory submissions and potential launches of lorundrostat through strategic partnerships. Such collaborations could generate revenue through upfront payments, milestone achievements, and royalties from sales in international markets, contributing to the company's financial growth within the next 2-3 years. * Strong Market Penetration and Adoption in Hypertension: Beyond the initial launch, the effective commercial execution, including market access strategies and payer engagement, will drive the rate of adoption and market penetration of lorundrostat. Mineralys aims to position lorundrostat as a potentially "best-in-class" therapy for resistant hypertension, leveraging its comprehensive data set and differentiated safety profile to capture a significant share of the market. Successful differentiation and sustained uptake among the large population of patients with uncontrolled and resistant hypertension will be crucial for ongoing revenue growth.

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Share Issuance

  • Mineralys Therapeutics has raised a total of $158 million across three funding rounds, including a Series A in April 2021, a Series B in June 2022, and a Post IPO round in February 2024.
  • In February 2024, the company secured $116.1 million through a private placement offering.
  • A public offering in March 2025 priced 12,962,962 shares of common stock at $13.50 per share, anticipating gross proceeds of approximately $175.0 million. Another public offering in September 2025 raised $287.5 million.

Inbound Investments

  • The company has attracted institutional investors such as HBM Healthcare Investments and Catalys Pacific, who invested in its Series A round in April 2021.
  • RTW Investments participated in the Series B funding round in June 2022.
  • Overall, Mineralys Therapeutics has raised a total of $158 million across its funding rounds.

Capital Expenditures

  • Capital expenditures for Mineralys Therapeutics have been minimal, with $0.0 million reported from 2020 to 2023 and -$0.1 million in 2024.
  • The company's financial activities are heavily focused on research and development (R&D), with expenses reaching $168.6 million in 2024 and $132.0 million in 2025.
  • Proceeds from share issuances are intended to fund the clinical development of lorundrostat, including R&D, manufacturing, and pre-commercialization efforts.

Peer Outperformance in Biotechnology

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Share of Biotechnology constituents that MLYS has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
36%
of 453 industry peers · -38.8% return
3Y
80%
of 401 industry peers · 138.7% return
5Y
—
insufficient peer history
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Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is MLYS's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 6 14.7%44.5%95.9% CAH 430% · MCK 373% · COR 184%
Health Care Services 20 20.9%37.4%12.4% HIMS 303% · RDNT 151% · DGX 78%
Managed Health Care 8 29.4%-8.1%6.6% OSCR 97% · HQY 44% · ELV 15%
Health Care Facilities 24 -1.3%5.7%0.6% THC 310% · NHC 282% · ENSG 137%
Health Care Equipment 50 -7.3%-0.8%-15.1% POCI 11050% · UFPT 393% · GKOS 259%
Pharmaceuticals 62 -8.2%-7.2%-31.0% INDV 1108% · ETON 1073% · LQDA 920%
Health Care Supplies 12 22.1%-5.5%-37.0% LNTH 304% · HAE 57% · MMSI 21%
Life Sciences Tools & Services 108 -0.4%-11.1%-65.3% SNWV 1818% · NTRA 283% · MEDP 222%
Health Care Technology 21 -31.5%-57.4%-78.2% SPOK 80% · HSTM 14% · VEEV 0%
Biotechnology ← 362 -15.2%-23.6%-78.9% CELZ 1214% · DNTH 1126% · ELVN 1113%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

MLYSALNYIONSCYTKVTRSSMMTMedian
NameMineraly.Alnylam .Ionis Ph.Cytokine.Viatris Summit T. 
Mkt Price23.59220.9643.4562.7017.7017.5533.52
Mkt Cap2.029.57.28.320.613.711.0
Rev LTM04,8048746814,7370471
Op Inc LTM-3711,000-594-708130-875-483
FCF LTM-139820-568-5811,812-460-299
FCF 3Y Avg-143354-410-4731,797-255-199
CFO LTM-139912-496-5552,331-458-299
CFO 3Y Avg-143414-358-4602,264-254-199

Growth & Margins

MLYSALNYIONSCYTKVTRSSMMTMedian
NameMineraly.Alnylam .Ionis Ph.Cytokine.Viatris Summit T. 
Rev Chg LTM-95.1%-7.4%-21.1%4.4%--1.5%
Rev Chg 3Y Avg-63.2%12.5%848.7%-1.8%-37.9%
Rev Chg Q-66.9%-40.7%-57.1%4.9%--17.9%
QoQ Delta Rev Chg LTM-12.1%-17.4%-36.0%1.2%--8.1%
Op Inc Chg LTM-82.6%654.9%-123.0%-29.4%-67.0%-15.2%-48.2%
Op Inc Chg 3Y Avg-104.4%163.9%-24.5%-14.2%-41.5%-193.3%-33.0%
Op Mgn LTM-20.8%-68.0%-1,046.1%0.9%--33.6%
Op Mgn 3Y Avg-6.0%-47.0%-5,944.2%4.0%--21.5%
QoQ Delta Op Mgn LTM-3.3%-34.7%-441.1%-0.8%--17.7%
CFO/Rev LTM-19.0%-56.8%-820.8%15.8%--20.5%
CFO/Rev 3Y Avg-11.1%-41.2%-4,684.0%15.4%--15.1%
FCF/Rev LTM-17.1%-64.9%-858.2%12.3%--26.3%
FCF/Rev 3Y Avg-9.2%-47.1%-4,704.2%12.2%--19.0%

Valuation

MLYSALNYIONSCYTKVTRSSMMTMedian
NameMineraly.Alnylam .Ionis Ph.Cytokine.Viatris Summit T. 
Mkt Cap2.029.57.28.320.613.711.0
P/S-6.18.2122.41.4-7.2
P/Op Inc-5.429.5-12.1-11.7157.8-15.6-8.5
P/EBIT-5.426.2-15.0-10.8-113.0-15.8-12.9
P/E-5.736.5-12.7-9.3-50.1-16.0-11.0
P/CFO-14.432.4-14.5-14.98.8-29.8-14.4
Total Yield-17.7%2.8%-7.9%-10.8%0.7%-6.4%-7.1%
Dividend Yield0.0%0.0%0.0%0.0%2.7%0.0%0.0%
FCF Yield 3Y Avg-14.9%1.1%-4.8%-6.8%13.6%-2.4%-3.6%
D/E0.00.00.20.20.70.00.1
Net D/E-0.3-0.1-0.10.00.6-0.0-0.1

Returns

MLYSALNYIONSCYTKVTRSSMMTMedian
NameMineraly.Alnylam .Ionis Ph.Cytokine.Viatris Summit T. 
1M Rtn-16.4%-17.0%-25.2%-13.8%4.9%-0.3%-15.1%
3M Rtn-19.0%-29.4%-47.8%-26.7%6.1%10.2%-22.9%
6M Rtn-16.4%-33.1%-41.5%-3.4%34.0%-6.1%-11.3%
12M Rtn-38.0%-51.6%-37.2%10.1%79.9%-18.1%-27.6%
3Y Rtn141.7%24.9%-6.3%104.9%107.8%897.2%106.4%
1M Excs Rtn-16.9%-16.8%-25.6%-15.6%4.1%2.1%-16.2%
3M Excs Rtn-26.2%-34.9%-53.3%-30.3%1.5%6.9%-28.3%
6M Excs Rtn-34.2%-50.8%-59.1%-21.0%16.3%-24.0%-29.1%
12M Excs Rtn-57.7%-67.9%-52.2%-4.4%65.4%-31.9%-42.1%
3Y Excs Rtn71.8%-54.2%-86.8%22.8%23.5%776.9%23.1%

Comparison Analyses

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Financials

Segment Financials

Assets by Segment
$ Mil20252024202320222021
Single Segment66220625211411
Total66220625211411


Price Behavior

Price Behavior
Market Price$23.30 
Market Cap ($ Bil)2.0 
First Trading Date02/10/2023 
Distance from 52W High-50.8% 
   50 Days200 Days
DMA Price$26.79$28.32
DMA Trenddownindeterminate
Distance from DMA-13.0%-17.7%
 3M1YR
Volatility52.5%59.7%
Downside Capture104.33159.09
Upside Capture-29.1874.20
Correlation (SPY)12.6%24.8%
MLYS Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta0.850.920.640.841.160.94
Up Beta-5.50-0.090.160.272.061.20
Down Beta4.183.221.681.160.020.16
Up Capture109%85%36%65%82%228%
Bmk +ve Days6162766132424
Stock +ve Days9202761109364
Down Capture122%119%88%126%137%105%
Bmk -ve Days16263760120328
Stock -ve Days13223765141384

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MLYS
MLYS-42.5%59.7%-0.70-
Sector ETF (XLV)18.5%15.7%0.8817.2%
Equity (SPY)16.8%13.0%0.9224.8%
Gold (GLD)7.0%29.6%0.2325.9%
Commodities (DBC)45.9%20.9%1.71-5.6%
Real Estate (VNQ)1.6%13.6%-0.1411.2%
Bitcoin (BTCUSD)-30.1%44.3%-0.6821.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MLYS
MLYS6.0%81.0%0.40-
Sector ETF (XLV)6.8%15.2%0.2615.2%
Equity (SPY)13.3%17.2%0.5917.0%
Gold (GLD)18.3%18.9%0.7813.6%
Commodities (DBC)10.0%19.6%0.393.8%
Real Estate (VNQ)0.9%18.8%-0.0612.8%
Bitcoin (BTCUSD)14.9%52.2%0.458.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MLYS
MLYS2.9%81.0%0.40-
Sector ETF (XLV)10.5%16.7%0.5115.2%
Equity (SPY)15.4%17.9%0.7317.0%
Gold (GLD)11.5%16.4%0.5713.6%
Commodities (DBC)8.4%18.1%0.383.8%
Real Estate (VNQ)4.1%20.7%0.1612.8%
Bitcoin (BTCUSD)64.0%66.2%1.048.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9152026
Short Interest: Shares Quantity9.2 Mil
Short Interest: % Change Since 8312026-1.6%
Average Daily Volume1.4 Mil
Days-to-Cover Short Interest6.4 days
Basic Shares Quantity84.7 Mil
Short % of Basic Shares10.8%

Earnings Returns History

Updated 9/14/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/11/2026-1.0%-2.6%7.2%
5/6/2026-2.6%-10.8%-21.3%
3/12/2026-3.0%-13.7%0.6%
11/10/20255.9%-0.5%-19.0%
8/12/20250.4%7.1%175.1%
5/12/20251.2%2.1%3.6%
2/12/202510.0%-3.5%39.8%
11/12/2024-10.3%-23.6%-13.2%
...
SUMMARY STATS   
# Positive535
# Negative101210
Median Positive5.9%6.0%7.2%
Median Negative-3.8%-10.8%-14.4%
Max Positive10.0%7.1%175.1%
Max Negative-22.8%-23.6%-21.3%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/11/2026-1.0%-2.6%7.2%
5/6/2026-2.6%-10.8%-21.3%
3/12/2026-3.0%-13.7%0.6%
11/10/20255.9%-0.5%-19.0%
8/12/20250.4%7.1%175.1%
5/12/20251.2%2.1%3.6%
2/12/202510.0%-3.5%39.8%
11/12/2024-10.3%-23.6%-13.2%
8/13/2024-22.8%-11.1%-2.0%
5/9/2024-2.6%-10.8%-10.3%
3/21/2024-2.2%-4.6%-15.7%
11/7/2023-6.7%-18.3%-21.1%
8/7/20237.0%6.0%-3.0%
5/15/2023-4.6%-2.1%-1.5%
3/15/2023-5.9%-12.2%-19.3%
SUMMARY STATS   
# Positive535
# Negative101210
Median Positive5.9%6.0%7.2%
Median Negative-3.8%-10.8%-14.4%
Max Positive10.0%7.1%175.1%
Max Negative-22.8%-23.6%-21.3%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/11/202610-Q
03/31/202605/06/202610-Q
12/31/202503/12/202610-K
09/30/202511/10/202510-Q
06/30/202508/12/202510-Q
03/31/202505/12/202510-Q
12/31/202402/12/202510-K
09/30/202411/12/202410-Q
06/30/202408/13/202410-Q
03/31/202405/09/202410-Q
12/31/202303/21/202410-K
09/30/202311/07/202310-Q
06/30/202308/07/202310-Q
03/31/202305/15/202310-Q
12/31/202203/15/202310-K
09/30/202202/10/2023424B4
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/11/202610-Q
03/31/202605/06/202610-Q
12/31/202503/12/202610-K
09/30/202511/10/202510-Q
06/30/202508/12/202510-Q
03/31/202505/12/202510-Q
12/31/202402/12/202510-K
09/30/202411/12/202410-Q
06/30/202408/13/202410-Q
03/31/202405/09/202410-Q
12/31/202303/21/202410-K
09/30/202311/07/202310-Q
06/30/202308/07/202310-Q
03/31/202305/15/202310-Q
12/31/202203/15/202310-K
09/30/202202/10/2023424B4

Insider Activity

Updated 10/2/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Congleton, JonChief Executive OfficerDirectSell1002202625.4675,0001,909,66513,459,854Form
2Slingsby, Brian Taylor See footnoteSell924202628.81104,3203,005,303224,871,027Form
3Warren, EricChief Commercial OfficerDirectSell922202628.127,438209,1361,079,700Form
4Karydas, Daphne DirectSell917202628.583,00085,740177,196Form
5Warren, EricChief Commercial OfficerDirectSell825202625.987,437193,189997,505Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Congleton, JonChief Executive OfficerDirectSell1002202625.4675,0001,909,66513,459,854Form
2Slingsby, Brian Taylor See footnoteSell924202628.81104,3203,005,303224,871,027Form
3Warren, EricChief Commercial OfficerDirectSell922202628.127,438209,1361,079,700Form
4Karydas, Daphne DirectSell917202628.583,00085,740177,196Form
5Warren, EricChief Commercial OfficerDirectSell825202625.987,437193,189997,505Form
6Rodman, David MalcomChief Medical OfficerDirectSell812202627.092,17058,7851,391,993Form
7Warren, EricChief Commercial OfficerDirectSell723202626.877,438199,8851,031,942Form
8Rodman, David MalcomChief Medical OfficerDirectSell720202626.5341611,0361,363,218Form
9Rodman, David MalcomChief Medical OfficerDirectSell715202626.616,349168,9551,367,390Form
10Congleton, JonChief Executive OfficerDirectSell715202627.2410,700291,44116,441,127Form
11Rodman, David MalcomChief Medical OfficerDirectSell715202627.5814,058387,7171,592,265Form
12Rodman, David MalcomChief Medical OfficerDirectSell709202630.302,17165,7811,749,310Form
13Congleton, JonChief Executive OfficerDirectSell630202626.1475,0001,960,60116,059,182Form
14Warren, EricChief Commercial OfficerDirectSell630202625.90104,1242,696,322994,380Form
15Rodman, David MalcomChief Medical OfficerDirectSell617202625.004,584114,6001,427,375Form
16Karydas, Daphne DirectSell617202625.003,00075,000155,000Form
17Rodman, David MalcomChief Medical OfficerDirectSell617202623.819,890235,4871,359,466Form
18Rodman, David MalcomChief Medical OfficerDirectSell612202623.936,349151,9011,517,886Form
19Rodman, David MalcomChief Medical OfficerDirectSell612202625.002,17054,2501,586,075Form
20Rodman, David MalcomChief Medical OfficerDirectSell519202627.5541711,4881,747,855Form
21Rodman, David MalcomChief Medical OfficerDirectSell513202628.5814,056401,7891,813,512Form
22Rodman, David MalcomChief Medical OfficerDirectSell513202629.366,348186,3482,048,772Form
23Rodman, David MalcomChief Medical OfficerDirectSell513202629.712,17164,5002,073,520Form
24Rodman, David MalcomChief Medical OfficerDirectSell421202631.3341613,0332,186,583Form
25Rodman, David MalcomChief Medical OfficerDirectSell415202627.666,348175,5861,930,447Form
26Rodman, David MalcomChief Medical OfficerDirectSell415202626.5414,058373,0872,020,687Form
27Congleton, JonChief Executive OfficerDirectSell415202626.8315,730421,97918,492,001Form
28Rodman, David MalcomChief Medical OfficerDirectSell413202627.382,17059,4152,084,713Form
29Karydas, Daphne DirectSell402202625.003,00075,000155,000Form
30Congleton, JonChief Executive OfficerDirectSell402202626.2775,0001,970,52218,524,245Form
31Ra, Capital Management, LPSee footnotesBuy331202624.1658,3001,408,528140,744,587Form
32Ra, Capital Management, LPSee footnotesBuy331202623.67310,7007,354,269136,510,121Form
33Rodman, David MalcomChief Medical OfficerDirectSell317202625.6541710,6961,952,991Form
34Rodman, David MalcomChief Medical OfficerDirectSell316202626.2614,058369,2251,999,774Form
35Rodman, David MalcomChief Medical OfficerDirectSell316202627.376,348173,7482,257,765Form
36Rodman, David MalcomChief Medical OfficerDirectSell309202626.842,17158,2702,214,005Form
37Rodman, David MalcomChief Medical OfficerDirectSell217202627.5941711,5051,216,416Form
38Rodman, David MalcomChief Medical OfficerDirectSell213202627.4414,055385,7321,210,000Form
39Rodman, David MalcomChief Medical OfficerDirectSell213202628.996,349184,0771,462,321Form
40Rodman, David MalcomChief Medical OfficerDirectSell211202630.212,17165,5861,523,702Form
41Rodman, David MalcomChief Medical OfficerDirectSell120202632.1041613,3541,619,028Form
42Congleton, JonChief Executive OfficerDirectSell113202632.6216,236529,64020,849,943Form
43Levy, Adam ScottCFO and SecretaryDirectSell113202632.1410,758345,723277,594Form
44Rodman, David MalcomChief Medical OfficerDirectSell113202632.326,348205,1431,997,270Form
45Rodman, David MalcomChief Medical OfficerDirectSell113202633.272,17072,1962,056,219Form
46Rodman, David MalcomChief Medical OfficerDirectSell106202635.02192,7156,749,1092,164,450Form
47Rodman, David MalcomChief Medical OfficerDirectSell106202635.8770,0372,511,9192,481,469Form
48Slingsby, Brian Taylor See FootnoteSell1121202543.351,000,00043,350,000342,631,377Form
49Karydas, Daphne DirectSell1113202545.9915,000  Form
50Gold, Alexander M DirectSell1113202546.5012,742  Form
51Gold, Alexander M DirectSell1113202546.726,933  Form
52Levy, Adam ScottCFO and SecretaryDirectSell1113202544.88119,5245,363,716870,408Form
53Congleton, JonChief Executive OfficerDirectSell1113202545.44200,0009,088,49928,688,074Form
54Gold, Alexander M DirectSell1113202543.9815,000  Form
55Rodman, David MalcomChief Medical OfficerDirectSell1015202543.0110,369445,9823,060,455Form
56Levy, Adam ScottCFO and SecretaryDirectSell1015202542.0110,758451,9844,909,933Form
57Congleton, JonChief Executive OfficerDirectSell1015202542.6715,100644,32735,472,328Form

Investor Activity (13F)

Updated Oct 6, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Samsara Biocapital, LLC$159.0 Mil15.5%22Hold13F
Caligan Partners LP$75.1 Mil5.3%24Hold13F
SR One Capital Management, LP$42.4 Mil4.6%14Hold13F
Davern Capital Partners, LP$12.1 Mil3.3%17ADD +112.3%13F
Catalio Capital Management, LP$11.9 Mil2.5%41ADD +32.3%13F
Troluce Capital Advisors LLC$17.7 Mil1.9%46New13F
Findell Capital Management LLC$5.5 Mil1.6%17ADD +304.0%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Troluce Capital Advisors LLC$17.7 Mil1.9%46New13F
Findell Capital Management LLC$5.5 Mil1.6%17ADD +304.0%13F
Davern Capital Partners, LP$12.1 Mil3.3%17ADD +112.3%13F
Catalio Capital Management, LP$11.9 Mil2.5%41ADD +32.3%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Iron Triangle Partners LP$9.3 Mil1.1%27Exited13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Samsara Biocapital, LLC$159.0 Mil15.5%22Hold13F
Caligan Partners LP$75.1 Mil5.3%24Hold13F
SR One Capital Management, LP$42.4 Mil4.6%14Hold13F
Troluce Capital Advisors LLC$17.7 Mil1.9%46New13F
Davern Capital Partners, LP$12.1 Mil3.3%17ADD +112.3%13F
Catalio Capital Management, LP$11.9 Mil2.5%41ADD +32.3%13F
Findell Capital Management LLC$5.5 Mil1.6%17ADD +304.0%13F
Core Cache Last Updated: 10/5/2026