Mineralys Therapeutics, Inc. $MLYS Shares Sold by ADAR1 Capital Management LLC

Key Points

• ADAR1 Capital Management LLC reduced its stake in Mineralys Therapeutics by 68.7%, now holding approximately 263,425 shares worth about $4.18 million.
• Mineralys Therapeutics reported earnings of ($0.66) per share, beating estimates, with analysts forecasting a -4.23 EPS for the current fiscal year.
• Wall Street analysts have given Mineralys Therapeutics an average rating of "Moderate Buy" with a consensus target price of $34.40.

ADAR1 Capital Management LLC cut its position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 68.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 263,425 shares of the company's stock after selling 578,116 shares during the quarter. ADAR1 Capital Management LLC owned approximately 0.41% of Mineralys Therapeutics worth $4,183,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. SBI Securities Co. Ltd. raised its position in Mineralys Therapeutics by 297.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company's stock valued at $25,000 after purchasing an additional 1,190 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Mineralys Therapeutics in the fourth quarter valued at about $48,000. Quarry LP acquired a new stake in shares of Mineralys Therapeutics during the first quarter worth about $111,000. ProShare Advisors LLC purchased a new position in shares of Mineralys Therapeutics during the fourth quarter worth about $128,000. Finally, CWM LLC increased its position in Mineralys Therapeutics by 59.3% in the 1st quarter. CWM LLC now owns 8,342 shares of the company's stock valued at $132,000 after acquiring an additional 3,105 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MLYS has been the topic of several recent research reports. Wall Street Zen raised shares of Mineralys Therapeutics from a "sell" rating to a "hold" rating in a research note on Friday, August 22nd. Jefferies Financial Group upped their price objective on Mineralys Therapeutics from $15.00 to $26.00 and gave the stock a "hold" rating in a report on Wednesday. Bank of America raised their target price on Mineralys Therapeutics from $38.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Guggenheim set a $48.00 price target on shares of Mineralys Therapeutics and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, HC Wainwright reiterated a "buy" rating and issued a $42.00 price objective on shares of Mineralys Therapeutics in a research note on Wednesday, August 13th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $36.60.

Insider Transactions at Mineralys Therapeutics

In related news, CFO Adam Scott Levy sold 59,925 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $14.76, for a total value of $884,493.00. Following the transaction, the chief financial officer directly owned 132,934 shares of the company's stock, valued at approximately $1,962,105.84. This trade represents a 31.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jon Congleton sold 15,884 shares of Mineralys Therapeutics stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $14.51, for a total value of $230,476.84. Following the completion of the transaction, the chief executive officer directly owned 846,405 shares in the company, valued at $12,281,336.55. This represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 123,051 shares of company stock worth $1,776,262 in the last ninety days. Insiders own 25.56% of the company's stock.

Mineralys Therapeutics Price Performance

Mineralys Therapeutics stock traded up $1.68 during mid-day trading on Friday, hitting $34.80. 3,741,957 shares of the company were exchanged, compared to its average volume of 2,228,714. Mineralys Therapeutics, Inc. has a 12-month low of $8.24 and a 12-month high of $35.09. The company has a market capitalization of $2.31 billion, a P/E ratio of -9.78 and a beta of -0.29. The business's 50 day simple moving average is $15.59 and its two-hundred day simple moving average is $14.53.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.66) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.12. Equities research analysts predict that Mineralys Therapeutics, Inc. will post -4.23 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.