Renaissance Technologies LLC Purchases 60,700 Shares of Mineralys Therapeutics, Inc. $MLYS

Key Points

• Renaissance Technologies increased its Mineralys Therapeutics stake by 18.8% in the first quarter, purchasing 60,700 shares to own 382,800 shares valued at approximately $10.37 million. Institutional investors collectively own 84.46% of MLYS.
• Insiders sold 237,718 shares worth roughly $6.22 million over the past quarter, including substantial sales by Eric Warren and David Malcom Rodman under pre-arranged Rule 10b5-1 trading plans.
• Analyst sentiment remains mixed but leans positive: six analysts rate MLYS a Buy, one rates it Hold and one Sell, producing a “Moderate Buy” consensus and an average price target of $49.33 versus a recent price of $25.52.

Renaissance Technologies LLC increased its position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 18.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 382,800 shares of the company's stock after buying an additional 60,700 shares during the quarter. Renaissance Technologies LLC owned 0.46% of Mineralys Therapeutics worth $10,370,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MLYS. Navalign LLC bought a new stake in Mineralys Therapeutics in the 4th quarter worth $33,000. KBC Group NV bought a new position in shares of Mineralys Therapeutics during the first quarter valued at about $33,000. Royal Bank of Canada raised its stake 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 last quarter. Caitong International Asset Management Co. Ltd raised its stake 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 last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Mineralys Therapeutics by 14,091.3% during the third quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company's stock worth $124,000 after purchasing an additional 3,241 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Insider Transactions at Mineralys Therapeutics

In other news, insider Eric Warren sold 104,124 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $25.90, for a total value of $2,696,811.60. Following the completion of the transaction, the insider owned 38,400 shares of the company's stock, valued at approximately $994,560. This represents a 73.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Malcom Rodman sold 14,056 shares of Mineralys Therapeutics stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $28.58, for a total value of $401,720.48. Following the sale, the insider owned 63,443 shares in the company, valued at $1,813,200.94. This represents a 18.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 237,718 shares of company stock worth $6,218,301 over the last quarter. Insiders own 18.94% of the company's stock.

Analysts Set New Price Targets

MLYS has been the topic of several recent analyst reports. HC Wainwright reissued a "buy" rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Wall Street Zen lowered Mineralys Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Jefferies Financial Group reissued a "hold" rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Finally, TD Cowen began coverage on Mineralys Therapeutics in a report on Monday, April 27th. They set a "buy" rating for the company. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Mineralys Therapeutics has an average rating of "Moderate Buy" and an average price target of $49.33.

Mineralys Therapeutics Stock Performance

Shares of MLYS opened at $25.52 on Monday. Mineralys Therapeutics, Inc. has a 1-year low of $12.59 and a 1-year high of $47.65. The firm's 50-day moving average price is $26.88 and its 200-day moving average price is $27.92. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -12.45 and a beta of 0.66.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.51) by $0.04. On average, research analysts forecast that Mineralys Therapeutics, Inc. will post -2.3 EPS for the current fiscal 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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