Findell Capital Management LLC Decreases Position in Mineralys Therapeutics, Inc. $MLYS

Key Points

• Findell Capital Management cut its stake in Mineralys Therapeutics by 80% in the fourth quarter, leaving it with 50,000 shares worth about $1.8 million.
• Other major institutional investors remain heavily involved, with 84.46% of the stock owned by hedge funds and institutions; firms like RA Capital, Vanguard, and State Street all increased their positions.
• Mineralys Therapeutics reported a smaller-than-expected quarterly loss and still has a Moderate Buy analyst rating overall, with an average price target of $49.33.

Findell Capital Management LLC trimmed its position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 80.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 50,000 shares of the company's stock after selling 200,000 shares during the quarter. Mineralys Therapeutics makes up 0.5% of Findell Capital Management LLC's portfolio, making the stock its 15th biggest holding. Findell Capital Management LLC owned 0.06% of Mineralys Therapeutics worth $1,814,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. RA Capital Management L.P. boosted its position in 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 in the last quarter. Vanguard Group Inc. boosted its position in Mineralys Therapeutics by 11.1% during the fourth quarter. Vanguard Group Inc. now owns 3,352,880 shares of the company's stock worth $121,676,000 after purchasing an additional 333,881 shares in the last quarter. State Street Corp boosted its position in Mineralys Therapeutics by 144.4% during the fourth quarter. State Street Corp now owns 3,184,999 shares of the company's stock worth $115,584,000 after purchasing an additional 1,881,976 shares in the last quarter. Caligan Partners LP boosted its position in Mineralys Therapeutics by 37.4% during the third quarter. Caligan Partners LP now owns 2,772,654 shares of the company's stock worth $105,139,000 after purchasing an additional 755,302 shares in the last quarter. Finally, Suvretta Capital Management LLC boosted its position in Mineralys Therapeutics by 22.2% during the third quarter. Suvretta Capital Management LLC now owns 2,132,133 shares of the company's stock worth $80,850,000 after purchasing an additional 387,641 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MLYS. Jefferies Financial Group reiterated a "hold" rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. HC Wainwright reiterated a "buy" rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Bank of America boosted their target price on Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a "buy" rating in a research report on Friday, March 13th. Wall Street Zen cut Mineralys Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $49.33.

Insider Transactions at Mineralys Therapeutics

In related news, insider David Malcom Rodman sold 14,058 shares of the company's stock in a transaction on Monday, April 13th. The stock was sold at an average price of $26.54, for a total value of $373,099.32. Following the completion of the transaction, the insider directly owned 76,140 shares in the company, valued at approximately $2,020,755.60. This represents a 15.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 that occurred on Friday, March 27th. The stock was acquired at an average price of $23.67 per share, with a total value of $7,354,269.00. Following the completion of the purchase, 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 sold a total of 165,707 shares of company stock valued at $4,383,768 over the last three months. 18.94% of the stock is currently owned by insiders.

Mineralys Therapeutics Stock Up 4.8%

NASDAQ MLYS opened at $25.13 on Thursday. Mineralys Therapeutics, Inc. has a fifty-two week low of $12.59 and a fifty-two week high of $47.65. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -12.26 and a beta of 0.57. The business has a fifty day moving average of $27.64 and a 200-day moving average of $30.13.

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

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