TimesSquare Capital Management LLC Invests $6.36 Million in Mineralys Therapeutics, Inc. $MLYS

Key Points

• TimesSquare Capital Management acquired 235,858 shares of Mineralys Therapeutics, valued at approximately $6.36 million, giving it a 0.29% stake. Institutional investors collectively own 84.46% of the company.
• Insiders sold 216,896 shares worth about $5.61 million during the last quarter, including substantial sales by Director Daphne Karydas and insider Eric Warren under pre-arranged trading plans.
• Mineralys reported a quarterly loss of $2.85 per share, missing the $0.55 consensus estimate. Analyst views remain mixed, with a consensus “Hold” rating and an average price target of $49.33 versus the stock’s opening price of $26.05.

TimesSquare Capital Management LLC acquired a new stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 235,858 shares of the company's stock, valued at approximately $6,363,000. TimesSquare Capital Management LLC owned 0.29% of Mineralys Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in MLYS. Persistent Asset Partners Ltd purchased a new stake in Mineralys Therapeutics during the 2nd quarter worth approximately $389,000. Bank of New York Mellon Corp purchased a new position in Mineralys Therapeutics in the 2nd quarter valued at approximately $4,278,000. Walleye Capital LLC purchased a new position in Mineralys Therapeutics in the 2nd quarter valued at approximately $271,000. Handelsbanken Fonder AB grew its stake in shares of Mineralys Therapeutics by 92.9% in the second quarter. Handelsbanken Fonder AB now owns 27,200 shares of the company's stock worth $734,000 after acquiring an additional 13,100 shares in the last quarter. Finally, FNY Investment Advisers LLC grew its stake in shares of Mineralys Therapeutics by 400.0% in the second quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company's stock worth $67,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Insiders Place Their Bets

In related news, Director Daphne Karydas sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, June 17th. 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 owned 6,200 shares in the company, valued at $155,000. The trade was a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, insider Eric Warren sold 104,124 shares of the business's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $25.90, for a total transaction of $2,696,811.60. Following the sale, the insider owned 38,400 shares of the company's stock, valued at $994,560. This represents a 73.06% decrease in their position. 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 quarter, insiders have sold 216,896 shares of company stock worth $5,613,000. Insiders own 18.94% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Zacks Research cut Mineralys Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 13th. Jefferies Financial Group reissued a "hold" rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Weiss Ratings restated a "sell (d-)" rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. TD Cowen initiated coverage on Mineralys Therapeutics in a research report on Monday, April 27th. They issued a "buy" rating on the stock. Finally, Wall Street Zen cut Mineralys Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $49.33.

Mineralys Therapeutics Price Performance

Shares of MLYS opened at $26.05 on Tuesday. Mineralys Therapeutics, Inc. has a twelve month low of $14.26 and a twelve month high of $47.65. The firm's fifty day simple moving average is $26.55 and its 200-day simple moving average is $27.45. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -6.14 and a beta of 0.68. The company has a current ratio of 34.46, a quick ratio of 34.46 and a debt-to-equity ratio of 0.18.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($2.85) EPS for the quarter, missing analysts' consensus estimates of ($0.55) by ($2.30). Equities analysts forecast that Mineralys Therapeutics, Inc. will post -4.46 EPS 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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