Bank of New York Mellon Corp Buys New Position in Mineralys Therapeutics, Inc. $MLYS

Key Points

• Bank of New York Mellon acquired 158,550 shares of Mineralys Therapeutics worth approximately $4.28 million, giving it a 0.19% stake. Institutional investors collectively own 84.46% of the company.
• Mineralys reported a quarterly loss of $2.85 per share, substantially missing the $0.55 consensus estimate. Analysts expect a full-year loss of $4.45 per share.
• Analyst sentiment is mixed, with the stock carrying an average “Hold” rating and a consensus price target of $49.33; meanwhile, insiders sold 224,333 shares worth about $5.81 million over the past 90 days.

Bank of New York Mellon Corp purchased a new position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 158,550 shares of the company's stock, valued at approximately $4,278,000. Bank of New York Mellon Corp owned approximately 0.19% of Mineralys Therapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Navalign LLC bought a new stake in shares of Mineralys Therapeutics in the 4th quarter worth $33,000. KBC Group NV bought a new position in shares of Mineralys Therapeutics during the first quarter valued at about $33,000. Royal Bank of Canada lifted its position in shares of Mineralys Therapeutics by 262.3% during the fourth quarter. Royal Bank of Canada now owns 1,529 shares of the company's stock valued at $56,000 after purchasing an additional 1,107 shares in the last quarter. FNY Investment Advisers LLC boosted its holdings in Mineralys Therapeutics by 400.0% during the second quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company's stock worth $67,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Mineralys Therapeutics by 1,845.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company's stock worth $76,000 after purchasing an additional 1,993 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Mineralys Therapeutics Price Performance

Shares of NASDAQ MLYS opened at $28.21 on Friday. The company has a current ratio of 34.46, a quick ratio of 34.46 and a debt-to-equity ratio of 0.18. The stock has a fifty day simple moving average of $27.02 and a two-hundred day simple moving average of $27.09. Mineralys Therapeutics, Inc. has a 1-year low of $22.30 and a 1-year high of $47.65. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of -6.65 and a beta of 0.68.

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

Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, CEO Jon Congleton sold 75,000 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $26.14, for a total transaction of $1,960,500.00. Following the completion of the transaction, the chief executive officer owned 614,321 shares in the company, valued at $16,058,350.94. This trade represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 dated Friday, June 26th. The stock was sold at an average price of $25.90, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 224,333 shares of company stock worth $5,806,213 over the last ninety days. Company insiders own 18.94% of the company's stock.

Analyst Upgrades and Downgrades

MLYS has been the topic of a number of research analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Mineralys Therapeutics in a research note on Friday, July 17th. Zacks Research downgraded Mineralys Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 13th. Jefferies Financial Group reiterated a "hold" rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Wall Street Zen cut Mineralys Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Finally, HC Wainwright restated a "buy" rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $49.33.

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.

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