Mineralys Therapeutics, Inc. $MLYS Stock Sold by Candriam S.C.A.

Key Points

• Candriam S.C.A. cut its Mineralys Therapeutics stake by 14.8% in the third quarter, selling 127,135 shares. It retained 729,902 shares, valued at about $18.4 million.
• Mineralys reported a quarterly loss of $0.64 per share, missing analyst expectations of a $0.55 loss.
• Analysts’ consensus rating is Hold, with an average price target of $45.50; the stock opened at $15.33 and has a 52-week range of $14.91 to $47.65.

Candriam S.C.A. lowered its position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 14.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 729,902 shares of the company's stock after selling 127,135 shares during the quarter. Candriam S.C.A. owned 0.83% of Mineralys Therapeutics worth $18,409,000 as of its most recent SEC filing.

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

Mineralys Therapeutics Price Performance

Shares of NASDAQ:MLYS opened at $15.33 on Monday. The company's fifty day moving average is $23.78 and its 200-day moving average is $26.61. The company has a debt-to-equity ratio of 0.15, a quick ratio of 11.83 and a current ratio of 11.83. Mineralys Therapeutics, Inc. has a 52 week low of $14.91 and a 52 week high of $47.65. The company has a market capitalization of $1.36 billion, a PE ratio of -3.52 and a beta of 0.83.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.09). Equities research analysts predict that Mineralys Therapeutics, Inc. will post -4.60 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Eric Warren sold 7,438 shares of the business's stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $28.12, for a total value of $209,156.56. Following the transaction, the insider directly owned 38,400 shares of the company's stock, valued at $1,079,808. The trade was a 16.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daphne Karydas sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $28.58, for a total value of $85,740.00. Following the completion of the transaction, the director directly owned 6,200 shares in the company, valued at $177,196. The trade was a 32.61% 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. In the last ninety days, insiders sold 197,195 shares of company stock worth $5,403,069. Corporate insiders own 18.94% of the company's stock.

Analysts Set New Price Targets

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

About Mineralys Therapeutics

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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