380,354 Shares in Mineralys Therapeutics, Inc. $MLYS Bought by Parkman Healthcare Partners LLC

Key Points

• Parkman Healthcare Partners acquired 380,354 shares of Mineralys Therapeutics, valued at approximately $10.3 million and representing about 0.43% of the company. Institutional investors and hedge funds collectively own 84.46% of MLYS.
• Mineralys reported a quarterly loss of $2.85 per share, missing analysts’ expected loss of $0.55 by $2.30. Analysts’ consensus rating is “Hold,” with an average price target of $49.33, although some firms recently downgraded the stock to “Strong Sell.”
• Insiders sold 216,896 shares worth approximately $5.6 million over the past 90 days, while the stock recently traded at $25.27 against a 52-week range of $14.53 to $47.65.

Parkman Healthcare Partners LLC acquired a new position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 380,354 shares of the company's stock, valued at approximately $10,262,000. Parkman Healthcare Partners LLC owned about 0.43% of Mineralys Therapeutics as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MLYS. Timothy G. Youngquist 2020 Irrevocable Trust purchased a new position in shares of Mineralys Therapeutics during the second quarter worth about $2,721,000. Jennison Associates LLC raised its stake in Mineralys Therapeutics by 234.4% during the 4th quarter. Jennison Associates LLC now owns 1,258,653 shares of the company's stock valued at $45,677,000 after acquiring an additional 882,307 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in Mineralys Therapeutics during the 4th quarter valued at approximately $13,794,000. Bank of America Corp DE lifted its position in Mineralys Therapeutics by 11.5% during the 1st quarter. Bank of America Corp DE now owns 1,100,372 shares of the company's stock worth $29,809,000 after acquiring an additional 113,092 shares during the period. Finally, Artia Global Partners LP grew its stake in shares of Mineralys Therapeutics by 143.5% in the 4th quarter. Artia Global Partners LP now owns 137,800 shares of the company's stock valued at $5,001,000 after purchasing an additional 81,200 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Mineralys Therapeutics Price Performance

Shares of MLYS opened at $25.27 on Tuesday. Mineralys Therapeutics, Inc. has a twelve month low of $14.53 and a twelve month high of $47.65. The stock's 50 day moving average is $26.77 and its two-hundred day moving average is $27.26. The firm has a market capitalization of $2.23 billion, a PE ratio of -5.96 and a beta of 0.68. The company has a current ratio of 34.46, a quick ratio of 34.46 and a debt-to-equity ratio of 0.18.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($2.85) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.55) by ($2.30). Research analysts anticipate that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Zacks Research lowered Mineralys Therapeutics from a "hold" rating to a "strong sell" rating in a report on Thursday, August 13th. Wall Street Zen downgraded Mineralys Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. 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. Jefferies Financial Group reissued a "hold" rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Finally, HC Wainwright restated a "buy" rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $49.33.

Insiders Place Their Bets

In related news, insider David Malcom Rodman sold 9,890 shares of the company's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $23.81, for a total transaction of $235,480.90. Following the transaction, the insider owned 57,095 shares of the company's stock, valued at $1,359,431.95. This represents a 14.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 104,124 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $25.90, for a total value of $2,696,811.60. Following the completion of the transaction, the insider owned 38,400 shares of the company's stock, valued at $994,560. The trade was a 73.06% 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. Over the last ninety days, insiders sold 216,896 shares of company stock worth $5,613,000. Insiders own 18.94% of the company's stock.

About Mineralys Therapeutics

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.

Want to see what other hedge funds are holding MLYS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source