Renaissance Technologies LLC Acquires 60,700 Shares of Mineralys Therapeutics, Inc. $MLYS

Renaissance Technologies LLC boosted its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 18.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 382,800 shares of the company’s stock after purchasing an additional 60,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Mineralys Therapeutics were worth $10,370,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Navalign LLC purchased a new position in shares of Mineralys Therapeutics during the fourth quarter valued at approximately $33,000. KBC Group NV purchased a new stake in shares of Mineralys Therapeutics in the 1st quarter worth approximately $33,000. Royal Bank of Canada grew its stake in shares of Mineralys Therapeutics by 262.3% in the 4th quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock worth $56,000 after buying an additional 1,107 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Mineralys Therapeutics by 1,845.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock worth $76,000 after buying an additional 1,993 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Mineralys Therapeutics by 14,091.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock valued at $124,000 after buying an additional 3,241 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Stock Performance

Shares of MLYS opened at $25.52 on Monday. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -12.45 and a beta of 0.66. The business’s fifty day simple moving average is $26.88 and its two-hundred day simple moving average is $27.92. Mineralys Therapeutics, Inc. has a 12 month low of $12.59 and a 12 month high of $47.65.

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

Insiders Place Their Bets

In related news, insider Eric Warren sold 7,438 shares of Mineralys Therapeutics stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $26.87, for a total value of $199,859.06. Following the completion of the sale, the insider directly owned 38,400 shares in the company, valued at approximately $1,031,808. This trade represents a 16.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jon Congleton sold 75,000 shares of the business’s 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 completion of the transaction, the chief executive officer directly owned 614,321 shares of the company’s stock, valued at approximately $16,058,350.94. This trade represents a 10.88% decrease in their position. 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 237,718 shares of company stock valued at $6,218,301 over the last quarter. Corporate insiders own 18.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MLYS. TD Cowen assumed coverage on Mineralys Therapeutics in a research note on Monday, April 27th. They set a “buy” rating for the company. HC Wainwright restated a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. Wall Street Zen lowered Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Six 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 data from MarketBeat.com, Mineralys Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

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. 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.