Mineralys Therapeutics, Inc. $MLYS Shares Sold by Blue Owl Capital Holdings LP

Key Points

• Blue Owl Capital Holdings LP reduced its Mineralys Therapeutics stake by 34.7% in the fourth quarter, selling 35,000 shares and leaving it with 65,944 shares valued at about $2.39 million.
• Institutional ownership remains heavy, with multiple large investors such as RA Capital, Vanguard, and Caligan adjusting positions; overall, 84.46% of Mineralys shares are held by institutions and hedge funds.
• Analyst sentiment is mixed but generally positive: the stock carries a Moderate Buy consensus and an average target price of $49.33, while the company recently beat quarterly EPS estimates with a loss of $0.47 per share versus the expected $0.51 loss.

Blue Owl Capital Holdings LP cut its stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 34.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 65,944 shares of the company's stock after selling 35,000 shares during the quarter. Blue Owl Capital Holdings LP owned about 0.08% of Mineralys Therapeutics worth $2,393,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MLYS. RA Capital Management L.P. grew its stake in Mineralys Therapeutics by 19.1% in the 3rd quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company's stock valued at $277,717,000 after acquiring an additional 1,176,470 shares during the last quarter. Vanguard Group Inc. grew its stake in Mineralys Therapeutics by 11.1% in the 4th quarter. Vanguard Group Inc. now owns 3,352,880 shares of the company's stock valued at $121,676,000 after acquiring an additional 333,881 shares during the last quarter. Caligan Partners LP grew its stake in Mineralys Therapeutics by 37.4% in the 3rd quarter. Caligan Partners LP now owns 2,772,654 shares of the company's stock valued at $105,139,000 after acquiring an additional 755,302 shares during the last quarter. Suvretta Capital Management LLC grew its stake in Mineralys Therapeutics by 22.2% in the 3rd quarter. Suvretta Capital Management LLC now owns 2,132,133 shares of the company's stock valued at $80,850,000 after acquiring an additional 387,641 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Mineralys Therapeutics by 0.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,809,768 shares of the company's stock valued at $68,626,000 after acquiring an additional 6,171 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on MLYS. HC Wainwright set a $56.00 price objective on shares of Mineralys Therapeutics and gave the company a "buy" rating in a research note on Tuesday, March 10th. TD Cowen began coverage on shares of Mineralys Therapeutics in a research note on Monday, April 27th. They issued a "buy" rating on the stock. Jefferies Financial Group reissued a "hold" rating and issued a $30.00 price objective on shares of Mineralys Therapeutics in a research note on Friday, March 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Mineralys Therapeutics in a research note on Tuesday, April 21st. Finally, Wall Street Zen cut shares of Mineralys Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $49.33.

Insider Activity at Mineralys Therapeutics

In related news, Director Ra Capital Management, L.P. acquired 310,700 shares of the business's stock in a transaction dated Friday, March 27th. The shares were acquired at an average cost of $23.67 per share, for a total transaction of $7,354,269.00. Following the acquisition, the director directly owned 5,767,221 shares in the company, valued at approximately $136,510,121.07. The trade was a 5.69% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jon Congleton sold 75,000 shares of the stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $26.27, for a total transaction of $1,970,250.00. Following the transaction, the chief executive officer owned 705,051 shares in the company, valued at approximately $18,521,689.77. The trade was a 9.61% 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 90 days, insiders have sold 162,291 shares of company stock valued at $4,353,683. Insiders own 18.94% of the company's stock.

Mineralys Therapeutics Price Performance

Shares of MLYS stock opened at $29.85 on Monday. The firm has a market cap of $2.46 billion, a P/E ratio of -14.56 and a beta of 0.49. Mineralys Therapeutics, Inc. has a 1-year low of $12.59 and a 1-year high of $47.65. The firm's 50-day simple moving average is $27.15 and its 200-day simple moving average is $32.14.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.04. Analysts expect that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current fiscal year.

Mineralys Therapeutics Company 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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