Man Group plc Invests $1.61 Million in Mineralys Therapeutics, Inc. $MLYS

Key Points

• Man Group plc acquired 59,640 shares of Mineralys Therapeutics in the second quarter, valued at approximately $1.61 million. Hedge funds and institutional investors collectively own 84.46% of the company.
• Mineralys shares opened at $25.57, near the lower end of their 52-week range of $22.00 to $47.65. The company reported a quarterly loss of $2.85 per share, substantially missing the consensus estimate of a $0.55 loss.
• Analyst sentiment is mixed, with six Buy, one Hold and two Sell ratings, producing an overall “Hold” consensus and an average price target of $49.33. Meanwhile, insiders have sold 224,333 shares worth approximately $5.81 million over the past three months.

Man Group plc purchased a new position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 59,640 shares of the company's stock, valued at approximately $1,609,000. Man Group plc owned 0.07% of Mineralys Therapeutics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Timothy G. Youngquist 2020 Irrevocable Trust purchased a new position in Mineralys Therapeutics during the 2nd quarter worth $2,721,000. TimesSquare Capital Management LLC purchased a new stake in shares of Mineralys Therapeutics in the second quarter valued at about $6,363,000. Bank of America Corp DE increased its stake in shares of Mineralys Therapeutics by 11.5% during the first quarter. Bank of America Corp DE now owns 1,100,372 shares of the company's stock worth $29,809,000 after acquiring an additional 113,092 shares during the period. Artia Global Partners LP increased its stake in shares of Mineralys Therapeutics by 143.5% during the fourth quarter. Artia Global Partners LP now owns 137,800 shares of the company's stock worth $5,001,000 after acquiring an additional 81,200 shares during the period. Finally, UBS Group AG raised its holdings in Mineralys Therapeutics by 124.9% during the fourth quarter. UBS Group AG now owns 201,280 shares of the company's stock worth $7,304,000 after purchasing an additional 111,776 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Mineralys Therapeutics Stock Performance

Shares of MLYS opened at $25.57 on Wednesday. The company has a quick ratio of 34.46, a current ratio of 34.46 and a debt-to-equity ratio of 0.18. Mineralys Therapeutics, Inc. has a 52-week low of $22.00 and a 52-week high of $47.65. The company has a 50-day simple moving average of $26.88 and a 200-day simple moving average of $27.07. The company has a market capitalization of $2.26 billion, a PE ratio of -6.03 and a beta of 0.68.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its earnings results 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). Equities research analysts predict that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Mineralys Therapeutics

In other Mineralys Therapeutics news, insider Eric Warren sold 104,124 shares of Mineralys Therapeutics stock in a transaction dated Friday, June 26th. The shares were 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 in the company, valued at approximately $994,560. The trade was a 73.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daphne Karydas sold 3,000 shares of Mineralys Therapeutics stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $25.00, for a total value of $75,000.00. Following the transaction, the director owned 6,200 shares of the company's stock, valued at $155,000. This represents a 32.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 224,333 shares of company stock worth $5,806,213. 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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