53,963 Mineralys Therapeutics, Inc. $MLYS Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 3.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,376,686 shares of the company’s stock after selling 53,963 shares during the period. Pictet Asset Management Holding SA’s holdings in Mineralys Therapeutics were worth $34,596,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its position in shares of Mineralys Therapeutics by 5.3% during the 3rd quarter. ProShare Advisors LLC now owns 10,765 shares of the company’s stock worth $271,000 after buying an additional 545 shares during the last quarter. KBC Group NV acquired a new position in shares of Mineralys Therapeutics in the 1st quarter valued at $33,000. Sterling Capital Management LLC grew its position in shares of Mineralys Therapeutics by 902.0% in the 3rd quarter. Sterling Capital Management LLC now owns 2,024 shares of the company’s stock valued at $51,000 after buying an additional 1,822 shares during the last quarter. FNY Investment Advisers LLC grew its position in shares of Mineralys Therapeutics by 400.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company’s stock valued at $67,000 after buying an additional 2,000 shares during the last quarter. Finally, Quantinno Capital Management LP grew its position in shares of Mineralys Therapeutics by 12.6% in the 1st quarter. Quantinno Capital Management LP now owns 20,541 shares of the company’s stock valued at $556,000 after buying an additional 2,298 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Buying and Selling at Mineralys Therapeutics

In related news, insider Eric Warren sold 7,438 shares of the company’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $28.12, for a total value of $209,156.56. Following the completion of the sale, the insider owned 38,400 shares in the company, valued at $1,079,808. This represents a 16.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brian Slingsby sold 104,320 shares of the company’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $28.81, for a total transaction of $3,005,459.20. Following the completion of the sale, the director owned 7,805,718 shares of the company’s stock, valued at approximately $224,882,735.58. This trade represents a 1.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 197,195 shares of company stock valued at $5,403,069. Insiders own 18.94% of the company’s stock.

Mineralys Therapeutics Trading Down 1.8%

MLYS opened at $15.52 on Wednesday. Mineralys Therapeutics, Inc. has a 52 week low of $14.91 and a 52 week high of $47.65. The business’s 50 day moving average is $23.38 and its two-hundred day moving average is $26.44. The company has a quick ratio of 11.83, a current ratio of 11.83 and a debt-to-equity ratio of 0.15.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.09). Analysts predict that Mineralys Therapeutics, Inc. will post -4.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MLYS has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Thursday, October 15th. HC Wainwright restated a “buy” rating and issued a $56.00 price objective on shares of Mineralys Therapeutics in a research note on Monday, October 12th. Zacks Research upgraded shares of Mineralys Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, September 11th. UBS Group assumed coverage on Mineralys Therapeutics in a report on Sunday, October 11th. They set a “neutral” rating and a $29.00 price objective on the stock. Finally, Wall Street Zen cut Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Mineralys Therapeutics has an average rating of “Hold” and an average price target of $43.60.

Mineralys Therapeutics Company Profile

Mineralys Therapeutics is a clinical-stage biopharmaceutical company developing treatments for hypertension and other cardiovascular and kidney conditions associated with excess aldosterone. The company is based in Radnor, Pennsylvania, and was founded in 2019. Its lead product candidate, lorundrostat, is an investigational oral inhibitor of aldosterone synthase. Mineralys is studying the drug as a potential treatment for difficult-to-control hypertension and conditions related to excess aldosterone; it is not an approved or marketed therapy.