Canada Pension Plan Investment Board Buys New Holdings in Mineralys Therapeutics, Inc. $MLYS

Key Points

• Canada Pension Plan Investment Board initiated a 51,400-share position in Mineralys Therapeutics during the second quarter, valued at approximately $1.39 million. Institutional investors collectively own 84.46% of the company.
• Analyst views remain mixed: six analysts rate the stock a Buy, one rates it Hold, and two rate it Sell. The consensus rating is Hold, with a target price of $49.33.
• Mineralys reported a quarterly loss of $2.85 per share, missing the consensus estimate by $2.30. The stock opened at $25.67, while insiders have sold 224,333 shares worth approximately $5.81 million over the past three months.

Canada Pension Plan Investment Board bought a new position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 51,400 shares of the company's stock, valued at approximately $1,387,000. Canada Pension Plan Investment Board owned 0.06% of Mineralys Therapeutics at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Navalign LLC bought a new position in Mineralys Therapeutics during the fourth quarter worth $33,000. KBC Group NV bought a new stake in shares of Mineralys Therapeutics during the 1st quarter worth about $33,000. Royal Bank of Canada boosted its holdings in shares of Mineralys Therapeutics by 262.3% during the 4th quarter. Royal Bank of Canada now owns 1,529 shares of the company's stock worth $56,000 after buying an additional 1,107 shares during the period. FNY Investment Advisers LLC grew its stake in Mineralys Therapeutics by 400.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company's stock valued at $67,000 after buying an additional 2,000 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in Mineralys Therapeutics by 1,845.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company's stock valued at $76,000 after buying an additional 1,993 shares during the last quarter. Institutional investors own 84.46% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on MLYS shares. Weiss Ratings restated a "sell (d-)" rating on shares of Mineralys Therapeutics in a research report 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. HC Wainwright reiterated a "buy" rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Jefferies Financial Group reissued a "hold" rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Finally, Wall Street Zen downgraded Mineralys Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $49.33.

Mineralys Therapeutics Price Performance

NASDAQ:MLYS opened at $25.67 on Tuesday. Mineralys Therapeutics, Inc. has a 52 week low of $14.94 and a 52 week high of $47.65. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -6.05 and a beta of 0.68. The firm's 50-day simple moving average is $26.88 and its 200 day simple moving average is $27.10. The company has a debt-to-equity ratio of 0.18, a quick ratio of 34.46 and a current ratio of 34.46.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its quarterly earnings data 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). As a group, sell-side analysts predict that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current year.

Insider Buying and Selling at Mineralys Therapeutics

In related news, insider Eric Warren sold 7,437 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $25.98, for a total transaction of $193,213.26. Following the sale, the insider owned 38,400 shares of the company's stock, valued at $997,632. This represents a 16.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Malcom Rodman sold 2,170 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $27.09, for a total value of $58,785.30. Following the transaction, the insider owned 51,384 shares in the company, valued at approximately $1,391,992.56. This trade represents a 4.05% 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 a total of 224,333 shares of company stock valued at $5,806,213 in the last three months. Corporate 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.

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