Candriam S.C.A. Lowers Position in Mineralys Therapeutics, Inc. $MLYS

Candriam S.C.A. lessened its stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 6.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 824,187 shares of the company’s stock after selling 58,646 shares during the period. Candriam S.C.A. owned 1.26% of Mineralys Therapeutics worth $11,152,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. SBI Securities Co. Ltd. lifted its position in shares of Mineralys Therapeutics by 297.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company’s stock valued at $25,000 after buying an additional 1,190 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Mineralys Therapeutics by 51.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock worth $34,000 after acquiring an additional 850 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Mineralys Therapeutics during the second quarter valued at approximately $91,000. Quarry LP purchased a new position in Mineralys Therapeutics during the first quarter valued at approximately $111,000. Finally, CWM LLC boosted its position in shares of Mineralys Therapeutics by 59.3% in the first quarter. CWM LLC now owns 8,342 shares of the company’s stock worth $132,000 after purchasing an additional 3,105 shares during the period. Institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MLYS. Wells Fargo & Company raised their price objective on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Wednesday, October 8th. The Goldman Sachs Group boosted their price objective on Mineralys Therapeutics from $32.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. HC Wainwright upped their price objective on Mineralys Therapeutics from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Bank of America increased their target price on Mineralys Therapeutics from $38.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Mineralys Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $46.67.

Mineralys Therapeutics Stock Down 7.8%

Shares of MLYS stock opened at $40.85 on Friday. The company’s fifty day simple moving average is $40.17 and its two-hundred day simple moving average is $23.97. Mineralys Therapeutics, Inc. has a 52 week low of $8.24 and a 52 week high of $47.65. The stock has a market cap of $3.23 billion, a P/E ratio of -13.85 and a beta of 0.40.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.14. On average, analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 119,524 shares of Mineralys Therapeutics stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $44.88, for a total value of $5,364,237.12. Following the sale, the chief financial officer owned 19,396 shares of the company’s stock, valued at $870,492.48. The trade was a 86.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jon Congleton sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $45.44, for a total value of $9,088,000.00. Following the sale, the chief executive officer directly owned 631,305 shares in the company, valued at $28,686,499.20. This trade represents a 24.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 416,793 shares of company stock worth $18,669,643 over the last three months. 25.56% of the stock is owned by company insiders.

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.