Swedbank AB Sells 99,300 Shares of Mineralys Therapeutics, Inc. $MLYS

Swedbank AB lessened its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 44.9% during the first quarter, HoldingsChannel.com reports. The firm owned 122,100 shares of the company’s stock after selling 99,300 shares during the period. Swedbank AB’s holdings in Mineralys Therapeutics were worth $3,308,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Hudson Bay Capital Management LP bought a new stake in Mineralys Therapeutics during the 3rd quarter worth about $2,873,000. SG Americas Securities LLC grew its holdings in shares of Mineralys Therapeutics by 130.7% in the 4th quarter. SG Americas Securities LLC now owns 230,795 shares of the company’s stock valued at $8,376,000 after acquiring an additional 130,758 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Mineralys Therapeutics by 234.4% in the 4th quarter. Jennison Associates LLC now owns 1,258,653 shares of the company’s stock valued at $45,677,000 after acquiring an additional 882,307 shares in the last quarter. Farallon Capital Management LLC bought a new position in shares of Mineralys Therapeutics in the 3rd quarter valued at about $63,442,000. Finally, Holocene Advisors LP acquired a new stake in shares of Mineralys Therapeutics in the third quarter valued at about $45,708,000. Institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Trading Down 2.0%

Shares of MLYS traded down $0.58 during mid-day trading on Friday, reaching $28.38. The company’s stock had a trading volume of 727,682 shares, compared to its average volume of 1,613,234. Mineralys Therapeutics, Inc. has a 1-year low of $12.59 and a 1-year high of $47.65. The stock has a market cap of $2.34 billion, a P/E ratio of -13.84 and a beta of 0.66. The business has a 50-day simple moving average of $27.33 and a two-hundred day simple moving average of $28.91.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.04. Research analysts anticipate that Mineralys Therapeutics, Inc. will post -2.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MLYS. TD Cowen began coverage on Mineralys Therapeutics in a report on Monday, April 27th. They set a “buy” rating on the stock. Jefferies Financial Group restated a “hold” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Wall Street Zen lowered Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Tuesday, April 21st. Finally, HC Wainwright reissued a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Six research analysts have rated the stock with a Buy rating, one has given 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 an average price target of $49.33.

Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, insider Eric Warren sold 104,124 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $25.90, for a total value of $2,696,811.60. Following the transaction, the insider directly owned 38,400 shares in the company, valued at $994,560. The trade was a 73.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Malcom Rodman sold 14,058 shares of the stock in a transaction dated 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 directly owned 76,140 shares in the company, valued at $2,020,755.60. The trade was a 15.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 266,832 shares of company stock worth $7,002,196 over the last ninety days. 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.