Wellington Management Group LLP Trims Stake in Mineralys Therapeutics, Inc. $MLYS

Wellington Management Group LLP reduced its stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 76.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 806,716 shares of the company’s stock after selling 2,552,352 shares during the quarter. Wellington Management Group LLP’s holdings in Mineralys Therapeutics were worth $21,765,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Mineralys Therapeutics during the second quarter valued at about $158,832,000. State Street Corp raised its stake in shares of Mineralys Therapeutics by 144.4% in the fourth quarter. State Street Corp now owns 3,184,999 shares of the company’s stock worth $115,584,000 after buying an additional 1,881,976 shares during the period. Bank of America Corp DE bought a new position in shares of Mineralys Therapeutics in the second quarter worth about $40,620,000. Price T Rowe Associates Inc. MD lifted its position in shares of Mineralys Therapeutics by 6,097.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,325,120 shares of the company’s stock valued at $48,089,000 after buying an additional 1,303,737 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Mineralys Therapeutics by 6,012.8% during the 4th quarter. Janus Henderson Group PLC now owns 1,213,265 shares of the company’s stock valued at $44,005,000 after buying an additional 1,193,417 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Mineralys Therapeutics

In related news, insider David Rodman sold 2,170 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $27.09, for a total transaction of $58,785.30. Following the completion of the transaction, the insider owned 51,384 shares in the company, valued at approximately $1,391,992.56. This represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 7,437 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $25.98, for a total transaction of $193,213.26. Following the transaction, the insider directly owned 38,400 shares of the company’s stock, valued at $997,632. The trade was a 16.22% 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. In the last 90 days, insiders sold 224,333 shares of company stock valued at $5,806,213. Corporate insiders own 18.94% of the company’s stock.

Mineralys Therapeutics Stock Performance

NASDAQ MLYS opened at $28.21 on Monday. The company has a quick ratio of 34.46, a current ratio of 34.46 and a debt-to-equity ratio of 0.18. Mineralys Therapeutics, Inc. has a twelve month low of $22.30 and a twelve month high of $47.65. The business has a 50-day moving average price of $27.02 and a 200-day moving average price of $27.09. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of -6.65 and a beta of 0.68.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its 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). As a group, equities research analysts predict that Mineralys Therapeutics, Inc. will post -4.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MLYS shares. Zacks Research lowered shares of Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a report on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. HC Wainwright reiterated a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Jefferies Financial Group reissued a “hold” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Finally, Wall Street Zen cut shares of Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Six research 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, the company currently has an average rating of “Hold” 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.