TimesSquare Capital Management LLC Makes New $13.79 Million Investment in Mineralys Therapeutics, Inc. $MLYS

Key Points

• TimesSquare Capital Management took a new position in Mineralys Therapeutics, buying 380,100 shares worth about $13.79 million in the fourth quarter. The stake represented roughly 0.48% of the company at quarter-end.
• Analyst sentiment remains mixed but generally positive, with a Moderate Buy consensus and an average price target of $49.33. Recent calls ranged from Bank of America’s upgraded $51 target to Weiss Ratings and Wall Street Zen issuing sell ratings.
• Mineralys reported a smaller-than-expected quarterly loss of ($0.47) per share, beating estimates by $0.04. However, insiders have also been selling shares recently, including the CEO and another executive in pre-arranged trades.

TimesSquare Capital Management LLC bought a new position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 380,100 shares of the company's stock, valued at approximately $13,794,000. TimesSquare Capital Management LLC owned about 0.48% of Mineralys Therapeutics at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its stake in shares of Mineralys Therapeutics by 198.2% in the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company's stock worth $40,000 after acquiring an additional 676 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Mineralys Therapeutics by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company's stock worth $271,000 after buying an additional 702 shares during the last quarter. Navalign LLC bought a new stake in shares of Mineralys Therapeutics during the fourth quarter worth approximately $33,000. Velan Capital Investment Management LP raised its stake in shares of Mineralys Therapeutics by 0.6% during the third quarter. Velan Capital Investment Management LP now owns 175,600 shares of the company's stock worth $6,659,000 after buying an additional 1,000 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Mineralys Therapeutics by 11.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,896 shares of the company's stock worth $468,000 after buying an additional 1,275 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MLYS. Bank of America boosted their price target on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a "buy" rating in a research note on Friday, March 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Mineralys Therapeutics in a research note on Tuesday, April 21st. Jefferies Financial Group reissued a "hold" rating and set a $30.00 price target on shares of Mineralys Therapeutics in a research note on Friday, March 13th. Wall Street Zen downgraded shares of Mineralys Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Finally, HC Wainwright set a $56.00 price target on shares of Mineralys Therapeutics and gave the stock a "buy" rating in a research note on Tuesday, March 10th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $49.33.

Mineralys Therapeutics Price Performance

MLYS opened at $26.03 on Wednesday. The company has a market cap of $2.15 billion, a price-to-earnings ratio of -12.70 and a beta of 0.49. The firm has a 50 day simple moving average of $27.05 and a 200 day simple moving average of $32.37. Mineralys Therapeutics, Inc. has a fifty-two week low of $12.59 and a fifty-two week high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.51) by $0.04. As a group, analysts expect that Mineralys Therapeutics, Inc. will post -2.3 EPS for the current year.

Insider Activity

In related news, insider David Malcom Rodman sold 14,058 shares of the business's stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $26.54, for a total transaction of $373,099.32. Following the completion of the transaction, the insider owned 76,140 shares in the company, valued at approximately $2,020,755.60. The trade was a 15.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jon Congleton sold 75,000 shares of the business's stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $26.27, for a total transaction of $1,970,250.00. Following the transaction, the chief executive officer owned 705,051 shares of the company's stock, valued at approximately $18,521,689.77. This represents a 9.61% decrease in their position. 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 a total of 162,291 shares of company stock worth $4,353,683 in the last ninety days. Company insiders own 18.94% of the company's stock.

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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