Mineralys Therapeutics, Inc. $MLYS Shares Bought by Affinity Asset Advisors LLC

Affinity Asset Advisors LLC grew its stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 2.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 750,000 shares of the company’s stock after buying an additional 20,000 shares during the quarter. Mineralys Therapeutics accounts for approximately 1.0% of Affinity Asset Advisors LLC’s portfolio, making the stock its 29th biggest position. Affinity Asset Advisors LLC’s holdings in Mineralys Therapeutics were worth $20,318,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its holdings in Mineralys Therapeutics by 18.8% during the 1st quarter. Renaissance Technologies LLC now owns 382,800 shares of the company’s stock worth $10,370,000 after buying an additional 60,700 shares during the last quarter. Pale Fire Capital SE increased its holdings in shares of Mineralys Therapeutics by 3,431.3% in the 1st quarter. Pale Fire Capital SE now owns 365,626 shares of the company’s stock valued at $9,905,000 after acquiring an additional 355,272 shares during the last quarter. Sei Investments Co. raised its position in shares of Mineralys Therapeutics by 33.2% during the 1st quarter. Sei Investments Co. now owns 11,692 shares of the company’s stock worth $317,000 after acquiring an additional 2,912 shares in the last quarter. KBC Group NV acquired a new stake in shares of Mineralys Therapeutics during the 1st quarter worth about $33,000. Finally, Jennison Associates LLC lifted its stake in Mineralys Therapeutics by 0.6% during the first quarter. Jennison Associates LLC now owns 1,266,174 shares of the company’s stock worth $34,301,000 after purchasing an additional 7,521 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. HC Wainwright restated a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Wall Street Zen downgraded Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. TD Cowen started coverage on Mineralys Therapeutics in a research report on Monday, April 27th. They set a “buy” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.33.

Insider Activity

In other news, insider David Malcom Rodman sold 14,056 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $28.58, for a total transaction of $401,720.48. Following the completion of the sale, the insider directly owned 63,443 shares of the company’s stock, valued at $1,813,200.94. This trade represents a 18.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 104,124 shares of Mineralys Therapeutics stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $25.90, for a total transaction of $2,696,811.60. Following the completion of the sale, the insider owned 38,400 shares of the company’s stock, valued at $994,560. This trade represents a 73.06% decrease in their ownership of the stock. 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 three months, insiders have sold 230,280 shares of company stock valued at $6,018,442. Corporate insiders own 18.94% of the company’s stock.

Mineralys Therapeutics Trading Down 1.1%

Shares of MLYS stock opened at $26.71 on Friday. The firm has a fifty day simple moving average of $27.05 and a 200-day simple moving average of $28.24. The company has a market capitalization of $2.20 billion, a PE ratio of -13.03 and a beta of 0.66. Mineralys Therapeutics, Inc. has a twelve month low of $12.59 and a twelve month high of $47.65.

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

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.