Kingswood Wealth Advisors LLC Takes Position in Mineralys Therapeutics, Inc. $MLYS

Kingswood Wealth Advisors LLC purchased a new stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 16,143 shares of the company’s stock, valued at approximately $612,000.

Several other hedge funds also recently added to or reduced their stakes in MLYS. Simplify Asset Management Inc. acquired a new position in shares of Mineralys Therapeutics in the 3rd quarter valued at $8,294,000. Geode Capital Management LLC increased its position in shares of Mineralys Therapeutics by 19.0% during the 2nd quarter. Geode Capital Management LLC now owns 954,560 shares of the company’s stock worth $12,917,000 after purchasing an additional 152,560 shares during the last quarter. Voya Investment Management LLC acquired a new stake in shares of Mineralys Therapeutics during the 1st quarter worth about $255,000. 22NW LP raised its holdings in Mineralys Therapeutics by 21.4% in the 2nd quarter. 22NW LP now owns 560,042 shares of the company’s stock valued at $7,577,000 after buying an additional 98,698 shares during the period. Finally, Strs Ohio acquired a new position in Mineralys Therapeutics in the first quarter valued at about $359,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 192,715 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $35.02, for a total value of $6,748,879.30. Following the sale, the insider owned 61,804 shares of the company’s stock, valued at $2,164,376.08. This trade represents a 75.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Taylor Slingsby sold 1,000,000 shares of Mineralys Therapeutics stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $43.35, for a total value of $43,350,000.00. Following the completion of the transaction, the director owned 7,903,838 shares of the company’s stock, valued at $342,631,377.30. The trade was a 11.23% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,668,178 shares of company stock valued at $70,871,538. 25.56% of the stock is owned by company insiders.

Mineralys Therapeutics Stock Performance

NASDAQ MLYS opened at $33.37 on Friday. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of -11.31 and a beta of 0.49. The firm has a 50 day simple moving average of $39.00 and a 200-day simple moving average of $30.51. Mineralys Therapeutics, Inc. has a one year low of $8.24 and a one year high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last released its earnings results on Monday, November 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.14. Equities analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Wednesday, October 8th. Wells Fargo & Company boosted their target price on Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. Finally, HC Wainwright upped their price target on Mineralys Therapeutics from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.43.

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. The company was formerly known as Catalys SC1, Inc and changed its name to Mineralys Therapeutics, Inc in May 2020. The company was incorporated in 2019 and is headquartered in Radnor, Pennsylvania.