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

Swedbank AB decreased its stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 44.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 122,100 shares of the company’s stock after selling 99,300 shares during the quarter. Swedbank AB owned 0.15% of Mineralys Therapeutics worth $3,308,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RA Capital Management L.P. grew its position in shares of Mineralys Therapeutics by 19.1% during the 3rd quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company’s stock worth $277,717,000 after buying an additional 1,176,470 shares during the period. Vanguard Group Inc. raised its position in shares of Mineralys Therapeutics by 11.1% in the 4th quarter. Vanguard Group Inc. now owns 3,352,880 shares of the company’s stock valued at $121,676,000 after acquiring an additional 333,881 shares during the period. State Street Corp boosted its stake in Mineralys Therapeutics by 144.4% during the 4th quarter. State Street Corp now owns 3,184,999 shares of the company’s stock worth $115,584,000 after acquiring an additional 1,881,976 shares during the last quarter. Caligan Partners LP boosted its stake in Mineralys Therapeutics by 37.4% during the 3rd quarter. Caligan Partners LP now owns 2,772,654 shares of the company’s stock worth $105,139,000 after acquiring an additional 755,302 shares during the last quarter. Finally, Suvretta Capital Management LLC grew its holdings in Mineralys Therapeutics by 22.2% during the third quarter. Suvretta Capital Management LLC now owns 2,132,133 shares of the company’s stock valued at $80,850,000 after purchasing an additional 387,641 shares during the period. Institutional investors own 84.46% of the company’s stock.

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, CEO Jon Congleton sold 75,000 shares of Mineralys Therapeutics stock in a transaction dated 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 sale, the chief executive officer owned 614,321 shares of the company’s stock, valued at $16,058,350.94. This trade represents a 10.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 104,124 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider owned 38,400 shares in the company, valued at approximately $994,560. This trade represents a 73.06% 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 sold 266,832 shares of company stock worth $7,002,196 over the last three months. 18.94% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MLYS. HC Wainwright reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Jefferies Financial Group reissued a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. Wall Street Zen cut shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, TD Cowen assumed coverage on Mineralys Therapeutics in a research note on Monday, April 27th. They set a “buy” rating on the stock. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $49.33.

Mineralys Therapeutics Stock Down 2.0%

Shares of MLYS traded down $0.58 on Friday, hitting $28.38. The company’s stock had a trading volume of 727,682 shares, compared to its average volume of 1,613,234. The firm’s fifty day moving average price is $27.33 and its 200-day moving average price is $28.91. Mineralys Therapeutics, Inc. has a fifty-two week low of $12.59 and a fifty-two week high of $47.65. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of -13.84 and a beta of 0.66.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results on Wednesday, May 6th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.04. As a group, equities analysts predict that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current fiscal year.

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.