Parkman Healthcare Partners LLC Takes $10.26 Million Position in Mineralys Therapeutics, Inc. $MLYS

Parkman Healthcare Partners LLC purchased a new position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 380,354 shares of the company’s stock, valued at approximately $10,262,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Navalign LLC purchased a new position in Mineralys Therapeutics in the 4th quarter valued at approximately $33,000. KBC Group NV acquired a new position in Mineralys Therapeutics during the first quarter worth $33,000. Royal Bank of Canada boosted its position in Mineralys Therapeutics by 262.3% during the fourth quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock worth $56,000 after purchasing an additional 1,107 shares in the last quarter. FNY Investment Advisers LLC boosted its position in Mineralys Therapeutics by 400.0% during the second quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company’s stock worth $67,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Mineralys Therapeutics by 1,845.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock valued at $76,000 after purchasing an additional 1,993 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Activity

In related news, insider David Malcom Rodman sold 9,890 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $23.81, for a total transaction of $235,480.90. Following the transaction, the insider owned 57,095 shares of the company’s stock, valued at approximately $1,359,431.95. This represents a 14.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $26.14, for a total transaction of $1,960,500.00. Following the transaction, the chief executive officer directly owned 614,321 shares in the company, valued at $16,058,350.94. The trade was a 10.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 216,896 shares of company stock worth $5,613,000. Corporate insiders own 18.94% of the company’s stock.

Mineralys Therapeutics Trading Down 1.5%

Mineralys Therapeutics stock opened at $25.27 on Tuesday. The stock has a 50-day moving average price of $26.77 and a 200 day moving average price of $27.26. Mineralys Therapeutics, Inc. has a 52 week low of $14.53 and a 52 week high of $47.65. The stock has a market cap of $2.23 billion, a PE ratio of -5.96 and a beta of 0.68. The company has a current ratio of 34.46, a quick ratio of 34.46 and a debt-to-equity ratio of 0.18.

Mineralys Therapeutics (NASDAQ:MLYS) last released its earnings results on Wednesday, August 12th. The company reported ($2.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($2.30). Equities research analysts predict that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wall Street Zen downgraded Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Zacks Research cut shares of Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. HC Wainwright restated a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Mineralys Therapeutics presently has an average rating of “Hold” and a consensus target price of $49.33.

Mineralys Therapeutics 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.