Rhenman & Partners Asset Management AB Lowers Stake in Mineralys Therapeutics, Inc. $MLYS

Rhenman & Partners Asset Management AB reduced its holdings in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 13.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 142,571 shares of the company’s stock after selling 22,429 shares during the period. Rhenman & Partners Asset Management AB’s holdings in Mineralys Therapeutics were worth $5,174,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of MLYS. Farallon Capital Management LLC purchased a new position in Mineralys Therapeutics during the 3rd quarter worth $63,442,000. Holocene Advisors LP purchased a new position in Mineralys Therapeutics during the 3rd quarter worth $45,708,000. RA Capital Management L.P. grew its position in 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 purchasing an additional 1,176,470 shares during the last quarter. Polar Capital Holdings Plc purchased a new position in Mineralys Therapeutics during the 3rd quarter worth $40,149,000. Finally, Jennison Associates LLC grew its position in Mineralys Therapeutics by 234.4% during the 4th quarter. Jennison Associates LLC now owns 1,258,653 shares of the company’s stock worth $45,677,000 after purchasing an additional 882,307 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Mineralys Therapeutics Stock Down 1.3%

Shares of NASDAQ:MLYS opened at $23.62 on Friday. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -11.52 and a beta of 0.57. The firm’s 50-day simple moving average is $27.83 and its 200-day simple moving average is $30.61. Mineralys Therapeutics, Inc. has a fifty-two week low of $12.59 and a fifty-two week high of $47.65.

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

Insider Activity

In other news, CEO Jon Congleton sold 15,730 shares of Mineralys Therapeutics stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $26.83, for a total value of $422,035.90. Following the sale, the chief executive officer owned 689,321 shares of the company’s stock, valued at $18,494,482.43. The trade was a 2.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daphne Karydas sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $25.00, for a total transaction of $75,000.00. Following the completion of the sale, the director owned 6,200 shares of the company’s stock, valued at $155,000. This trade represents a 32.61% decrease in their position. 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 148,233 shares of company stock valued at $3,958,687 over the last quarter. Corporate insiders own 18.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MLYS shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. HC Wainwright reissued a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. TD Cowen started coverage on shares of Mineralys Therapeutics in a research report on Monday, April 27th. They set a “buy” rating on the stock. Jefferies Financial Group reissued a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Finally, Wall Street Zen downgraded shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.