Mineralys Therapeutics, Inc. $MLYS Shares Sold by Catalys Pacific LLC

Catalys Pacific LLC decreased its stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 11.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,903,838 shares of the company’s stock after selling 1,000,000 shares during the period. Mineralys Therapeutics accounts for about 92.4% of Catalys Pacific LLC’s holdings, making the stock its biggest holding. Catalys Pacific LLC owned 0.10% of Mineralys Therapeutics worth $286,830,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Navalign LLC acquired a new stake in shares of Mineralys Therapeutics in the fourth quarter valued at about $33,000. Smartleaf Asset Management LLC grew its stake in Mineralys Therapeutics by 198.2% during the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock worth $40,000 after purchasing an additional 676 shares during the period. Russell Investments Group Ltd. grew its stake in Mineralys Therapeutics by 14,091.3% during the third quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock worth $124,000 after purchasing an additional 3,241 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Mineralys Therapeutics by 50.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,846 shares of the company’s stock worth $140,000 after purchasing an additional 1,283 shares during the period. Finally, Victory Capital Management Inc. acquired a new stake in Mineralys Therapeutics during the third quarter worth approximately $216,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Mineralys Therapeutics Stock Performance

Shares of NASDAQ:MLYS opened at $31.50 on Monday. The business’s 50 day simple moving average is $27.65 and its two-hundred day simple moving average is $31.82. The firm has a market cap of $2.60 billion, a P/E ratio of -15.37 and a beta of 0.56. Mineralys Therapeutics, Inc. has a 52-week low of $12.59 and a 52-week high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.04. On average, equities analysts forecast that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 15,730 shares of the firm’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $26.83, for a total value of $422,035.90. Following the transaction, the chief executive officer owned 689,321 shares of the company’s stock, valued at approximately $18,494,482.43. This trade represents a 2.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daphne Karydas sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $25.00, for a total transaction of $75,000.00. Following the completion of the transaction, the director directly owned 6,200 shares in the company, valued at approximately $155,000. The trade was a 32.61% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 162,291 shares of company stock valued at $4,353,683. Insiders own 18.94% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MLYS shares. TD Cowen started coverage on Mineralys Therapeutics in a research note on Monday, April 27th. They set a “buy” rating for the company. HC Wainwright set a $56.00 target price on Mineralys Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Jefferies Financial Group reaffirmed a “hold” rating and set a $30.00 target price on shares of Mineralys Therapeutics in a research note on Friday, March 13th. Bank of America raised their target price on Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. Finally, Wall Street Zen cut Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.33.

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.