Mineralys Therapeutics, Inc. $MLYS Holdings Raised by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its stake in Mineralys Therapeutics by 18.2% in the first quarter, owning 801,904 shares valued at about $21.7 million.
• Insiders have been selling shares, including CEO Jon Congleton and insider Eric Warren, with total insider sales reaching 266,832 shares worth about $7.0 million over the last three months.
• Wall Street remains mixed but somewhat constructive on the stock: analysts currently rate Mineralys Therapeutics a Moderate Buy on average, with a consensus price target of $49.33, while the shares recently traded down 2.0% to $28.38.

Candriam S.C.A. lifted its stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 18.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 801,904 shares of the company's stock after purchasing an additional 123,517 shares during the quarter. Candriam S.C.A. owned 0.97% of Mineralys Therapeutics worth $21,724,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MLYS. Navalign LLC acquired a new position in shares of Mineralys Therapeutics in the fourth quarter worth about $33,000. Royal Bank of Canada raised its holdings in shares of Mineralys Therapeutics by 262.3% during the fourth quarter. Royal Bank of Canada now owns 1,529 shares of the company's stock valued at $56,000 after acquiring an additional 1,107 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in shares of Mineralys Therapeutics by 1,845.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company's stock valued at $76,000 after acquiring an additional 1,993 shares during the period. Russell Investments Group Ltd. lifted its position in shares of 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 acquiring an additional 3,241 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of 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 acquiring an additional 1,283 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

Insiders Place Their Bets

In other news, CEO Jon Congleton sold 75,000 shares of the firm's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $26.14, for a total transaction of $1,960,500.00. Following the completion of the sale, the chief executive officer directly owned 614,321 shares of the company's stock, valued at $16,058,350.94. This trade represents a 10.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $2,696,811.60. Following the sale, the insider owned 38,400 shares of the company's stock, valued at approximately $994,560. This represents a 73.06% 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. Insiders have sold a total of 266,832 shares of company stock valued at $7,002,196 in the last three months. Insiders own 18.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MLYS. Jefferies Financial Group reiterated a "hold" rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. HC Wainwright reiterated a "buy" rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Wall Street Zen lowered Mineralys Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, TD Cowen assumed coverage on Mineralys Therapeutics in a research note on Monday, April 27th. They issued a "buy" rating for the company. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $49.33.

Mineralys Therapeutics Trading Down 2.0%

MLYS stock traded down $0.58 during midday trading on Friday, reaching $28.38. The company had a trading volume of 727,682 shares, compared to its average volume of 1,613,234. The company has a 50 day moving average of $27.33 and a two-hundred day moving average of $28.91. The company has a market capitalization of $2.34 billion, a P/E ratio of -13.84 and a beta of 0.66. Mineralys Therapeutics, Inc. has a 1 year low of $12.59 and a 1 year high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last posted its quarterly 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. On average, sell-side analysts anticipate that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current year.

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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