Catalys Pacific LLC Has $286.83 Million Stock Position in Mineralys Therapeutics, Inc. $MLYS

Key Points

• Catalys Pacific LLC reduced its stake in Mineralys Therapeutics by 11.2% in the fourth quarter, but it still owned 7.9 million shares valued at about $286.8 million and represented nearly 92.4% of its portfolio.
• Institutional ownership remains high, with 84.46% of Mineralys Therapeutics held by institutions. Several funds increased positions, while analyst sentiment is mixed but leans positive, with a consensus rating of Moderate Buy and a target price of $49.33.
• The company beat quarterly EPS expectations, reporting ($0.47) versus an expected ($0.51), while insider activity included CEO Jon Congleton selling shares and director RA Capital Management buying shares in separate recent transactions.

Catalys Pacific LLC cut its position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 11.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,903,838 shares of the company's stock after selling 1,000,000 shares during the quarter. Mineralys Therapeutics comprises about 92.4% of Catalys Pacific LLC's portfolio, making the stock its biggest holding. Catalys Pacific LLC owned approximately 9.99% of Mineralys Therapeutics worth $286,830,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MLYS. Navalign LLC bought a new stake in Mineralys Therapeutics in the 4th quarter valued at $33,000. Smartleaf Asset Management LLC boosted its stake in Mineralys Therapeutics by 198.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company's stock valued at $40,000 after purchasing an additional 676 shares during the period. Russell Investments Group Ltd. boosted its stake in Mineralys Therapeutics by 14,091.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company's stock valued at $124,000 after purchasing an additional 3,241 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Mineralys Therapeutics by 50.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,846 shares of the company's stock valued at $140,000 after purchasing an additional 1,283 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Mineralys Therapeutics by 29.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,775 shares of the company's stock valued at $200,000 after purchasing an additional 3,390 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MLYS has been the subject of a number of recent analyst reports. Jefferies Financial Group reiterated a "hold" rating and set a $30.00 target price on shares of Mineralys Therapeutics in a research report on Friday, March 13th. Bank of America upped their target price on Mineralys Therapeutics from $46.00 to $51.00 and gave the company a "buy" rating in a research report on Friday, March 13th. Wall Street Zen downgraded Mineralys Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. Finally, TD Cowen initiated coverage on 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 assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $49.33.

Mineralys Therapeutics Stock Performance

Mineralys Therapeutics stock opened at $31.50 on Monday. The company has a market capitalization of $2.60 billion, a PE ratio of -15.37 and a beta of 0.56. Mineralys Therapeutics, Inc. has a 12 month low of $12.59 and a 12 month high of $47.65. The stock has a 50-day moving average price of $27.65 and a two-hundred day moving average price of $31.82.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.51) by $0.04. As a group, analysts predict that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current fiscal year.

Insider Transactions at Mineralys Therapeutics

In other Mineralys Therapeutics news, CEO Jon Congleton sold 75,000 shares of the stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $26.27, for a total value of $1,970,250.00. Following the completion of the transaction, the chief executive officer directly owned 705,051 shares in the company, valued at approximately $18,521,689.77. This trade represents a 9.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ra Capital Management, L.P. bought 310,700 shares of the company's stock in a transaction on Friday, March 27th. The stock was purchased at an average price of $23.67 per share, with a total value of $7,354,269.00. Following the completion of the transaction, the director directly owned 5,767,221 shares of the company's stock, valued at approximately $136,510,121.07. The trade was a 5.69% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 162,291 shares of company stock valued at $4,353,683 over the last three months. Company 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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