Mineralys Therapeutics, Inc. $MLYS Shares Sold by Montanova Capital LLC

Montanova Capital LLC reduced its stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 88.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 173,886 shares of the company’s stock after selling 1,364,776 shares during the period. Montanova Capital LLC’s holdings in Mineralys Therapeutics were worth $4,691,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of MLYS. RA Capital Management L.P. raised its stake in shares of Mineralys Therapeutics by 19.1% during the third quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company’s stock worth $277,717,000 after purchasing an additional 1,176,470 shares during the last quarter. BlackRock Inc. acquired a new position in Mineralys Therapeutics in the 2nd quarter valued at $158,832,000. Vanguard Group Inc. increased its stake in Mineralys Therapeutics by 11.1% in the 4th quarter. Vanguard Group Inc. now owns 3,352,880 shares of the company’s stock valued at $121,676,000 after buying an additional 333,881 shares during the period. State Street Corp raised its position in Mineralys Therapeutics by 144.4% during the 4th quarter. State Street Corp now owns 3,184,999 shares of the company’s stock worth $115,584,000 after buying an additional 1,881,976 shares during the last quarter. Finally, Caligan Partners LP raised its position in Mineralys Therapeutics by 37.4% during the 3rd quarter. Caligan Partners LP now owns 2,772,654 shares of the company’s stock worth $105,139,000 after buying an additional 755,302 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

MLYS has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Friday, July 17th. HC Wainwright reissued a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Zacks Research downgraded shares of Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 13th. Wall Street Zen lowered Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Mineralys Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $49.33.

Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 2,170 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $27.09, for a total transaction of $58,785.30. Following the completion of the transaction, the insider directly owned 51,384 shares in the company, valued at approximately $1,391,992.56. This trade represents a 4.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 7,437 shares of Mineralys Therapeutics stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $25.98, for a total transaction of $193,213.26. Following the transaction, the insider owned 38,400 shares of the company’s stock, valued at approximately $997,632. The trade was a 16.22% 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 224,333 shares of company stock valued at $5,806,213 over the last 90 days. 18.94% of the stock is currently owned by corporate insiders.

Mineralys Therapeutics Stock Performance

NASDAQ MLYS opened at $25.67 on Tuesday. The business has a 50 day moving average price of $26.88 and a 200 day moving average price of $27.10. The company has a market capitalization of $2.27 billion, a P/E ratio of -6.05 and a beta of 0.68. Mineralys Therapeutics, Inc. has a 1-year low of $14.94 and a 1-year high of $47.65. The company has a debt-to-equity ratio of 0.18, a current ratio of 34.46 and a quick ratio of 34.46.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Wednesday, August 12th. The company reported ($2.85) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($2.30). Sell-side analysts expect that Mineralys Therapeutics, Inc. will post -4.45 EPS for the current fiscal 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.