Timothy G. Youngquist 2020 Irrevocable Trust Takes $2.72 Million Position in Mineralys Therapeutics, Inc. $MLYS

Key Points

• Timothy G. Youngquist 2020 Irrevocable Trust acquired 100,869 shares of Mineralys Therapeutics worth approximately $2.72 million, representing about 0.12% of the company and 0.5% of the trust’s portfolio.
• Institutional investors own 84.46% of Mineralys, while insiders own 18.94%; insiders sold 216,896 shares worth roughly $5.61 million over the past 90 days, including sales by the CEO and another insider under 10b5-1 plans.
• Mineralys reported a quarterly loss of $2.85 per share, missing estimates by $2.30. Analysts’ consensus rating is Hold, with a $49.33 average price target, despite mixed ratings ranging from Buy to Strong Sell.

Timothy G. Youngquist 2020 Irrevocable Trust purchased a new stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 100,869 shares of the company's stock, valued at approximately $2,721,000. Mineralys Therapeutics accounts for about 0.5% of Timothy G. Youngquist 2020 Irrevocable Trust's holdings, making the stock its 18th largest holding. Timothy G. Youngquist 2020 Irrevocable Trust owned approximately 0.12% of Mineralys Therapeutics at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MLYS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in 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 valued at $271,000 after acquiring an additional 702 shares during the last quarter. Navalign LLC bought a new stake in shares of Mineralys Therapeutics in the 4th quarter worth about $33,000. Velan Capital Investment Management LP lifted its holdings in shares of Mineralys Therapeutics by 0.6% in the 3rd quarter. Velan Capital Investment Management LP now owns 175,600 shares of the company's stock worth $6,659,000 after acquiring an additional 1,000 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Mineralys Therapeutics by 262.3% during the 4th quarter. Royal Bank of Canada now owns 1,529 shares of the company's stock worth $56,000 after purchasing an additional 1,107 shares during the period. Finally, KBC Group NV purchased a new position in shares of Mineralys Therapeutics during the 1st quarter worth about $33,000. 84.46% of the stock is currently owned by institutional investors.

Insider Activity at Mineralys Therapeutics

In related news, insider Eric Warren sold 7,438 shares of the stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $26.87, for a total value of $199,859.06. Following the transaction, the insider owned 38,400 shares of the company's stock, valued at $1,031,808. This represents a 16.23% decrease in their ownership of the stock. The sale 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, CEO Jon Congleton sold 75,000 shares of the firm's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $26.14, for a total value of $1,960,500.00. Following the transaction, the chief executive officer owned 614,321 shares in the company, valued at $16,058,350.94. The trade was a 10.88% 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. Over the last ninety days, insiders sold 216,896 shares of company stock worth $5,613,000. Insiders own 18.94% of the company's stock.

Mineralys Therapeutics Trading Up 2.1%

Shares of MLYS opened at $26.61 on Wednesday. Mineralys Therapeutics, Inc. has a 1-year low of $14.26 and a 1-year high of $47.65. The company has a 50-day moving average of $26.60 and a 200 day moving average of $27.41. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -6.28 and a beta of 0.68. The company has a debt-to-equity ratio of 0.18, a current ratio of 34.46 and a quick ratio of 34.46.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($2.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($2.30). On average, research analysts expect that Mineralys Therapeutics, Inc. will post -4.46 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MLYS shares. Jefferies Financial Group reissued a "hold" rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Weiss Ratings restated a "sell (d-)" rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. HC Wainwright reaffirmed a "buy" rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Zacks Research downgraded Mineralys Therapeutics from a "hold" rating to a "strong sell" rating in a report on Thursday, August 13th. Finally, TD Cowen assumed coverage on Mineralys Therapeutics in a research note on Monday, April 27th. They set a "buy" rating for the company. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $49.33.

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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