Mineralys Therapeutics, Inc. $MLYS Shares Sold by Catalys Pacific LLC

Key Points

• Catalys Pacific trimmed its Mineralys stake by 1.3%, selling 104,320 shares, but retained 7.8 million shares—about 8.82% of the company and 93.4% of the firm’s portfolio.
• Analyst views are mixed: MarketBeat reports a consensus Hold rating and a $45.50 average price target, while individual ratings range from Buy to Sell.
• Mineralys reported quarterly EPS of -$2.85, missing the -$0.55 consensus estimate. Shares opened at $15.99, near the 12-month low of $15.33.

Catalys Pacific LLC lowered its holdings in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,799,518 shares of the company's stock after selling 104,320 shares during the quarter. Mineralys Therapeutics accounts for about 93.4% of Catalys Pacific LLC's portfolio, making the stock its biggest position. Catalys Pacific LLC owned about 8.82% of Mineralys Therapeutics worth $196,002,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MLYS. KBC Group NV acquired a new position in shares of Mineralys Therapeutics in the first quarter valued at $33,000. Sterling Capital Management LLC raised its position in Mineralys Therapeutics by 902.0% during the 3rd quarter. Sterling Capital Management LLC now owns 2,024 shares of the company's stock worth $51,000 after purchasing an additional 1,822 shares during the last quarter. FNY Investment Advisers LLC boosted its holdings in Mineralys Therapeutics by 400.0% in the second quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company's stock valued at $67,000 after acquiring an additional 2,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Mineralys Therapeutics during the third quarter worth $114,000. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Mineralys Therapeutics during the 2nd quarter valued at about $226,000. Institutional investors own 84.46% of the company's stock.

Analyst Ratings Changes

MLYS has been the subject of a number of research reports. HC Wainwright restated a "buy" rating and issued a $56.00 price target on shares of Mineralys Therapeutics in a report on Monday, October 12th. Wall Street Zen downgraded Mineralys Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. UBS Group assumed coverage on Mineralys Therapeutics in a report on Sunday, October 11th. They issued a "neutral" rating and a $29.00 target price on the stock. Zacks Research raised shares of Mineralys Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Friday, September 11th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Mineralys Therapeutics in a report on Thursday, October 15th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Mineralys Therapeutics has a consensus rating of "Hold" and an average price target of $45.50.

Insider Activity at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 75,000 shares of the business's stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $25.46, for a total value of $1,909,500.00. Following the sale, the chief executive officer directly owned 528,621 shares in the company, valued at approximately $13,458,690.66. The trade was a 12.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Rodman sold 2,170 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $27.09, for a total transaction of $58,785.30. Following the sale, the insider directly owned 51,384 shares in the company, valued at approximately $1,391,992.56. This trade represents a 4.05% 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. Insiders have sold 199,365 shares of company stock worth $5,461,854 in the last three months. Corporate insiders own 18.94% of the company's stock.

Mineralys Therapeutics Trading Up 2.8%

NASDAQ:MLYS opened at $15.99 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. The firm's 50 day moving average is $24.39 and its 200 day moving average is $26.86. Mineralys Therapeutics, Inc. has a 12 month low of $15.33 and a 12 month high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its quarterly earnings data 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 expect that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current fiscal year.

Mineralys Therapeutics Company Profile

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cardiovascular and kidney diseases associated with excess aldosterone activity. The company's research centers on selectively targeting aldosterone production, a mechanism involved in blood-pressure regulation and organ damage.

Mineralys' lead product candidate is lorundrostat, an oral, selective aldosterone synthase inhibitor being evaluated as a potential treatment for uncontrolled and resistant hypertension.

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