Mineralys Therapeutics, Inc. $MLYS Shares Sold by Simplify Asset Management Inc.

Simplify Asset Management Inc. cut its stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 47.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 114,182 shares of the company’s stock after selling 104,544 shares during the quarter. Simplify Asset Management Inc.’s holdings in Mineralys Therapeutics were worth $4,144,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Navalign LLC acquired a new position in Mineralys Therapeutics in the fourth quarter valued at approximately $33,000. Smartleaf Asset Management LLC raised its position 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 worth $40,000 after acquiring an additional 676 shares during the period. Russell Investments Group Ltd. raised its position 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 worth $124,000 after acquiring an additional 3,241 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position 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 worth $140,000 after acquiring an additional 1,283 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position 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 worth $200,000 after acquiring an additional 3,390 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. HC Wainwright set a $56.00 price objective on shares of Mineralys Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 price objective on shares of Mineralys Therapeutics in a research report on Friday, March 13th. Wall Street Zen downgraded shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Bank of America upped their price objective on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Finally, TD Cowen assumed coverage on shares of Mineralys Therapeutics in a research report on Monday, April 27th. They set a “buy” rating for the company. 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 company’s stock. Based on data from MarketBeat.com, Mineralys Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

Mineralys Therapeutics Stock Performance

MLYS stock opened at $29.85 on Monday. The company has a market cap of $2.46 billion, a price-to-earnings ratio of -14.56 and a beta of 0.49. Mineralys Therapeutics, Inc. has a 12 month low of $12.59 and a 12 month high of $47.65. The firm has a 50-day moving average of $27.15 and a two-hundred day moving average of $32.14.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data 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, equities analysts forecast that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current year.

Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, Director Ra Capital Management, L.P. acquired 310,700 shares of the business’s stock in a transaction on Friday, March 27th. The stock was bought at an average price of $23.67 per share, for a total transaction of $7,354,269.00. Following the acquisition, the director owned 5,767,221 shares in the company, valued at approximately $136,510,121.07. The trade was a 5.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jon Congleton sold 15,730 shares of the stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $26.83, for a total transaction of $422,035.90. Following the completion of the sale, the chief executive officer owned 689,321 shares of the company’s stock, valued at approximately $18,494,482.43. The trade was a 2.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 162,291 shares of company stock worth $4,353,683 in the last quarter. Insiders own 18.94% of the company’s stock.

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.