Blue Owl Capital Holdings LP Cuts Position in Mineralys Therapeutics, Inc. $MLYS

Blue Owl Capital Holdings LP decreased its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 34.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 65,944 shares of the company’s stock after selling 35,000 shares during the period. Blue Owl Capital Holdings LP’s holdings in Mineralys Therapeutics were worth $2,393,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MLYS. Navalign LLC purchased a new position in Mineralys Therapeutics in the fourth quarter valued at approximately $33,000. Smartleaf Asset Management LLC raised its holdings in Mineralys Therapeutics by 198.2% in the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock valued at $40,000 after buying an additional 676 shares during the period. Russell Investments Group Ltd. raised its holdings in Mineralys Therapeutics by 14,091.3% in the third quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock valued at $124,000 after buying an additional 3,241 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Mineralys Therapeutics by 50.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,846 shares of the company’s stock valued at $140,000 after buying an additional 1,283 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Mineralys Therapeutics by 29.8% in the second quarter. The Manufacturers Life Insurance Company now owns 14,775 shares of the company’s stock valued at $200,000 after buying an additional 3,390 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Activity at Mineralys Therapeutics

In other news, insider David Malcom Rodman sold 14,056 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $28.58, for a total transaction of $401,720.48. Following the completion of the sale, the insider owned 63,443 shares of the company’s stock, valued at approximately $1,813,200.94. This trade represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jon Congleton sold 15,730 shares of the firm’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $26.83, for a total transaction of $422,035.90. Following the sale, the chief executive officer directly owned 689,321 shares of the company’s stock, valued at $18,494,482.43. The trade was a 2.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 162,291 shares of company stock worth $4,353,683 over the last three months. 18.94% of the stock is owned by corporate insiders.

Mineralys Therapeutics Price Performance

MLYS opened at $29.85 on Monday. The firm has a market capitalization of $2.46 billion, a P/E ratio of -14.56 and a beta of 0.49. The firm’s 50 day moving average is $27.15 and its 200-day moving average is $32.14. Mineralys Therapeutics, Inc. has a 52-week low of $12.59 and a 52-week high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.04. Equities analysts expect that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

MLYS has been the topic of several research reports. Jefferies Financial Group restated a “hold” rating and issued a $30.00 price target on shares of Mineralys Therapeutics in a report on Friday, March 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. TD Cowen started coverage on shares of Mineralys Therapeutics in a research note on Monday, April 27th. They set a “buy” rating on the stock. Wall Street Zen lowered shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, HC Wainwright set a $56.00 price objective on shares of Mineralys Therapeutics and gave the company a “buy” rating in a research note on Tuesday, March 10th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Mineralys Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $49.33.

About Mineralys Therapeutics

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.