Swedbank AB Sells 77,900 Shares of Mineralys Therapeutics, Inc. $MLYS

Key Points

• Swedbank AB cut its Mineralys Therapeutics stake by 26% in the fourth quarter, selling 77,900 shares and leaving it with 221,400 shares valued at about $8.0 million.
• Institutional ownership remains heavy, with several firms increasing positions, and institutions overall holding 84.46% of Mineralys shares.
• Mineralys reported a smaller-than-expected loss for the quarter, posting EPS of -$0.47 versus analysts’ estimate of -$0.51, while Wall Street’s consensus rating remains “Moderate Buy” with a $49.33 target price.

Swedbank AB decreased its stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 26.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 221,400 shares of the company's stock after selling 77,900 shares during the period. Swedbank AB owned about 0.28% of Mineralys Therapeutics worth $8,035,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP bought a new position in Mineralys Therapeutics during the third quarter valued at approximately $2,873,000. SG Americas Securities LLC lifted its position in Mineralys Therapeutics by 130.7% during the fourth quarter. SG Americas Securities LLC now owns 230,795 shares of the company's stock valued at $8,376,000 after purchasing an additional 130,758 shares during the period. Vanguard Group Inc. increased its holdings in Mineralys Therapeutics by 29.8% during the third quarter. Vanguard Group Inc. now owns 3,018,999 shares of the company's stock valued at $114,480,000 after buying an additional 692,550 shares during the last quarter. Citigroup Inc. increased its holdings in Mineralys Therapeutics by 501.7% during the third quarter. Citigroup Inc. now owns 163,168 shares of the company's stock valued at $6,187,000 after buying an additional 136,050 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in Mineralys Therapeutics by 234.4% during the fourth quarter. Jennison Associates LLC now owns 1,258,653 shares of the company's stock valued at $45,677,000 after buying an additional 882,307 shares during the last quarter. Institutional investors own 84.46% of the company's stock.

Mineralys Therapeutics Trading Up 0.5%

Shares of MLYS stock opened at $29.99 on Wednesday. Mineralys Therapeutics, Inc. has a 12 month low of $12.59 and a 12 month high of $47.65. The stock has a market cap of $2.47 billion, a P/E ratio of -14.63 and a beta of 0.49. The company has a 50 day simple moving average of $27.28 and a two-hundred day simple moving average of $32.01.

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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.51) by $0.04. As a group, equities analysts forecast that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on MLYS shares. Bank of America upped their target price on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the company a "buy" rating in a report on Friday, March 13th. Jefferies Financial Group reaffirmed a "hold" rating and set a $30.00 target price on shares of Mineralys Therapeutics in a report on Friday, March 13th. TD Cowen started coverage on shares of Mineralys Therapeutics in a report on Monday, April 27th. They set a "buy" rating for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. Finally, Wall Street Zen cut shares of Mineralys Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Six research 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's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $49.33.

Insider Activity

In other news, Director Ra Capital Management, L.P. acquired 310,700 shares of Mineralys Therapeutics stock in a transaction dated Friday, March 27th. The stock was purchased at an average cost of $23.67 per share, with a total value of $7,354,269.00. Following the completion of the purchase, the director directly owned 5,767,221 shares in the company, valued at approximately $136,510,121.07. This trade represents a 5.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daphne Karydas sold 3,000 shares of the stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $25.00, for a total transaction of $75,000.00. Following the completion of the sale, the director directly owned 6,200 shares of the company's stock, valued at approximately $155,000. This trade represents a 32.61% 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. In the last ninety days, insiders sold 162,291 shares of company stock valued at $4,353,683. 18.94% of the stock is currently owned by company insiders.

Mineralys Therapeutics 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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