Mineralys Therapeutics, Inc. $MLYS Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC cut its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 18.2% during the second quarter, Holdings Channel reports. The institutional investor owned 86,327 shares of the company’s stock after selling 19,164 shares during the quarter. Squarepoint Ops LLC’s holdings in Mineralys Therapeutics were worth $2,329,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arizona State Retirement System raised its position in Mineralys Therapeutics by 22.4% in the second quarter. Arizona State Retirement System now owns 15,357 shares of the company’s stock worth $414,000 after acquiring an additional 2,815 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Mineralys Therapeutics in the second quarter valued at $333,000. California State Teachers Retirement System boosted its position in shares of Mineralys Therapeutics by 2,860.2% during the 2nd quarter. California State Teachers Retirement System now owns 1,813,623 shares of the company’s stock worth $48,932,000 after purchasing an additional 1,752,357 shares in the last quarter. Pale Fire Capital SE boosted its position in shares of Mineralys Therapeutics by 68.0% during the 2nd quarter. Pale Fire Capital SE now owns 614,284 shares of the company’s stock worth $16,573,000 after purchasing an additional 248,658 shares in the last quarter. Finally, Nantahala Capital Management LLC acquired a new position in shares of Mineralys Therapeutics during the 2nd quarter worth $22,136,577. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MLYS shares. HC Wainwright reiterated a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Zacks Research lowered shares of Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 13th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Finally, Wall Street Zen downgraded shares of Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Mineralys Therapeutics has a consensus rating of “Hold” and an average price target of $48.80.

Mineralys Therapeutics Stock Up 2.7%

Mineralys Therapeutics stock opened at $28.95 on Tuesday. Mineralys Therapeutics, Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $47.65. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of -6.83 and a beta of 0.68. The stock’s fifty day moving average is $27.24 and its two-hundred day moving average is $27.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 34.46 and a current ratio of 34.46.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings results 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). Analysts predict that Mineralys Therapeutics, Inc. will post -4.45 EPS for the current fiscal year.

Insider Buying and Selling at Mineralys Therapeutics

In other news, CEO Jon Congleton sold 75,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $26.14, for a total value of $1,960,500.00. Following the sale, the chief executive officer directly owned 614,321 shares in the company, valued at $16,058,350.94. This represents a 10.88% decrease in their ownership of the stock. The transaction 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, Director Daphne Karydas sold 3,000 shares of Mineralys Therapeutics stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $25.00, for a total value of $75,000.00. Following the transaction, the director owned 6,200 shares of the company’s stock, valued at $155,000. This represents a 32.61% 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. Over the last 90 days, insiders have sold 205,924 shares of company stock valued at $5,364,551. Insiders own 18.94% of the company’s stock.

About Mineralys Therapeutics

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cardiovascular and kidney-related diseases. The company’s research is centered on conditions associated with excess aldosterone activity, including uncontrolled and resistant hypertension.

Mineralys’ lead investigational product is lorundrostat, also known as MLS-101, an oral, highly selective aldosterone synthase inhibitor. The company is evaluating lorundrostat in clinical studies as a potential treatment for patients whose blood pressure remains inadequately controlled despite existing therapy.