UBS Group AG Grows Position in Mineralys Therapeutics, Inc. $MLYS

Key Points

• UBS Group AG significantly increased its stake in Mineralys Therapeutics by 124.9% in the fourth quarter, bringing its holdings to 201,280 shares valued at about $7.3 million.
• Analyst sentiment remains mixed but constructive, with six Buy ratings, one Hold, and one Sell; the consensus rating is Moderate Buy with a $49.33 average price target.
• The stock traded lower despite a better-than-expected earnings report, opening at $26.39 after a 3.6% drop, while the company posted a smaller-than-expected quarterly loss of $0.47 per share.

UBS Group AG boosted its stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) by 124.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 201,280 shares of the company's stock after purchasing an additional 111,776 shares during the quarter. UBS Group AG owned about 0.25% of Mineralys Therapeutics worth $7,304,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC grew its stake in Mineralys Therapeutics by 198.2% during the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company's stock worth $40,000 after buying an additional 676 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Mineralys Therapeutics by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company's stock worth $271,000 after acquiring an additional 702 shares in the last quarter. Velan Capital Investment Management LP increased its position in shares of Mineralys Therapeutics by 0.6% in the third 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 in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Mineralys Therapeutics by 11.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,896 shares of the company's stock worth $468,000 after acquiring an additional 1,275 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Mineralys Therapeutics by 50.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,846 shares of the company's stock worth $140,000 after acquiring an additional 1,283 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Mineralys Therapeutics Trading Down 3.6%

Shares of MLYS stock opened at $26.39 on Tuesday. The company has a market capitalization of $2.18 billion, a PE ratio of -12.87 and a beta of 0.49. The firm has a fifty day simple moving average of $27.06 and a 200-day simple moving average of $32.47. Mineralys Therapeutics, Inc. has a twelve month low of $12.59 and a twelve month high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.04. Equities research analysts predict that Mineralys Therapeutics, Inc. will post -2.3 EPS for the current year.

Insider Activity

In other news, CEO Jon Congleton sold 75,000 shares of the company's stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $26.27, for a total value of $1,970,250.00. Following the completion of the transaction, the chief executive officer directly owned 705,051 shares in the company, valued at approximately $18,521,689.77. This represents a 9.61% 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, insider David Malcom Rodman sold 14,058 shares of the company's stock in a transaction 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 of the company's stock, valued at $2,020,755.60. This trade represents a 15.59% 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 161,874 shares of company stock valued at $4,342,194 over the last ninety days. 18.94% of the stock is owned by company insiders.

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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