Capital International Investors Reduces Stock Holdings in Mineralys Therapeutics, Inc. $MLYS

Capital International Investors lowered its position in Mineralys Therapeutics, Inc. (NASDAQ:MLYSFree Report) by 51.4% in the fourth quarter, HoldingsChannel reports. The firm owned 1,163,290 shares of the company’s stock after selling 1,230,106 shares during the period. Capital International Investors’ holdings in Mineralys Therapeutics were worth $42,216,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of MLYS. Navalign LLC purchased a new stake in shares of Mineralys Therapeutics in the fourth quarter valued at about $33,000. Smartleaf Asset Management LLC grew its holdings in shares of 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 purchasing an additional 676 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of 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 purchasing an additional 3,241 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 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 purchasing an additional 1,283 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of 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 purchasing an additional 3,390 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

MLYS has been the subject of a number of analyst reports. HC Wainwright reissued a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. TD Cowen initiated coverage on shares of Mineralys Therapeutics in a research report on Monday, April 27th. They issued a “buy” rating on the stock. Wall Street Zen cut shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. 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 issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.33.

Get Our Latest Analysis on Mineralys Therapeutics

Insider Buying and Selling at Mineralys Therapeutics

In other news, insider David Malcom Rodman sold 14,056 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $28.58, for a total transaction of $401,720.48. Following the sale, the insider owned 63,443 shares of the company’s stock, valued at approximately $1,813,200.94. This represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Ra Capital Management, L.P. purchased 310,700 shares of Mineralys Therapeutics stock in a transaction dated Friday, March 27th. The shares were acquired at an average cost of $23.67 per share, for a total transaction of $7,354,269.00. Following the transaction, the director directly owned 5,767,221 shares of the company’s stock, valued at approximately $136,510,121.07. This represents a 5.69% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 160,120 shares of company stock worth $4,295,413 over the last ninety days. Company insiders own 18.94% of the company’s stock.

Mineralys Therapeutics Price Performance

NASDAQ MLYS opened at $24.18 on Wednesday. The firm’s 50-day moving average is $27.94 and its two-hundred day moving average is $30.91. Mineralys Therapeutics, Inc. has a 12 month low of $12.59 and a 12 month high of $47.65. The stock has a market capitalization of $1.99 billion, a P/E ratio of -11.80 and a beta of 0.57.

Mineralys Therapeutics (NASDAQ:MLYSGet Free Report) last posted its earnings results on Wednesday, May 6th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.04. As a group, analysts anticipate that Mineralys Therapeutics, Inc. will post -2.3 EPS for the current year.

Mineralys Therapeutics Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Mineralys Therapeutics (NASDAQ:MLYS)

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