Swedbank AB Sells 84,500 Shares of Mineralys Therapeutics, Inc. $MLYS

Swedbank AB trimmed its stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 22.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 299,300 shares of the company’s stock after selling 84,500 shares during the quarter. Swedbank AB owned 0.45% of Mineralys Therapeutics worth $11,349,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in shares of Mineralys Therapeutics by 32.8% during the first quarter. Wellington Management Group LLP now owns 121,557 shares of the company’s stock valued at $1,930,000 after buying an additional 30,028 shares during the period. Geode Capital Management LLC increased its holdings in Mineralys Therapeutics by 19.0% during the 2nd quarter. Geode Capital Management LLC now owns 954,560 shares of the company’s stock worth $12,917,000 after acquiring an additional 152,560 shares during the period. Voya Investment Management LLC purchased a new stake in Mineralys Therapeutics in the 1st quarter worth approximately $255,000. 22NW LP lifted its stake in Mineralys Therapeutics by 21.4% in the 2nd quarter. 22NW LP now owns 560,042 shares of the company’s stock worth $7,577,000 after purchasing an additional 98,698 shares in the last quarter. Finally, Strs Ohio bought a new position in Mineralys Therapeutics in the 1st quarter valued at $359,000. Institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Mineralys Therapeutics from $32.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. HC Wainwright raised their price target on Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Wells Fargo & Company lifted their price target on Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. Stifel Nicolaus upped their price objective on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.43.

Insider Buying and Selling

In other Mineralys Therapeutics news, Director Daphne Karydas sold 15,000 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $45.99, for a total value of $689,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Taylor Slingsby sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $43.35, for a total value of $43,350,000.00. Following the transaction, the director directly owned 7,903,838 shares in the company, valued at $342,631,377.30. This trade represents a 11.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,405,426 shares of company stock worth $61,610,431 in the last ninety days. 25.56% of the stock is currently owned by insiders.

Mineralys Therapeutics Trading Down 0.8%

MLYS opened at $37.14 on Friday. The stock has a market capitalization of $2.94 billion, a P/E ratio of -12.59 and a beta of 0.40. The stock has a 50-day moving average price of $40.20 and a 200-day moving average price of $28.93. Mineralys Therapeutics, Inc. has a 12-month low of $8.24 and a 12-month high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last released its earnings results on Monday, November 10th. The company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.14. On average, equities research analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

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.