Legal & General Group Plc Purchases New Shares in Mineralys Therapeutics, Inc. $MLYS

Legal & General Group Plc purchased a new position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 38,050 shares of the company's stock, valued at approximately $1,027,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company acquired a new position in Mineralys Therapeutics in the 2nd quarter worth approximately $864,000. Algert Global LLC raised its stake in Mineralys Therapeutics by 149.4% during the 2nd quarter. Algert Global LLC now owns 649,027 shares of the company's stock valued at $17,511,000 after purchasing an additional 388,763 shares during the period. Greenland Capital Management LP purchased a new stake in shares of Mineralys Therapeutics in the second quarter valued at $809,000. E Fund Management Co. Ltd. acquired a new stake in shares of Mineralys Therapeutics in the second quarter worth $297,000. Finally, Timothy G. Youngquist 2020 Irrevocable Trust acquired a new stake in shares of Mineralys Therapeutics in the second quarter worth $2,721,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MLYS. Zacks Research downgraded Mineralys Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 13th. HC Wainwright reaffirmed a "buy" rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Wall Street Zen downgraded Mineralys Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. Finally, Jefferies Financial Group restated a "hold" rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Six investment 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. Based on data from MarketBeat.com, Mineralys Therapeutics currently has an average rating of "Hold" and an average target price of $49.33.

Mineralys Therapeutics Price Performance

Shares of MLYS stock opened at $28.21 on Tuesday. The stock's 50 day simple moving average is $27.04 and its 200 day simple moving average is $27.09. Mineralys Therapeutics, Inc. has a twelve month low of $22.30 and a twelve month high of $47.65. The company has a debt-to-equity ratio of 0.18, a quick ratio of 34.46 and a current ratio of 34.46. The company has a market capitalization 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 announced 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). As a group, research analysts predict that Mineralys Therapeutics, Inc. will post -4.45 EPS for the current year.

Insider Activity

In other Mineralys Therapeutics news, Director Daphne Karydas sold 3,000 shares of the company's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $25.00, for a total transaction of $75,000.00. Following the completion of the sale, the director directly owned 6,200 shares in the company, valued at $155,000. This represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 104,124 shares of the firm's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $25.90, for a total value of $2,696,811.60. Following the completion of the sale, the insider directly owned 38,400 shares in the company, valued at approximately $994,560. This represents a 73.06% decrease in their ownership of the stock. 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 90 days, insiders have sold 224,333 shares of company stock valued at $5,806,213. 18.94% of the stock is owned by corporate insiders.

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.

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