Mineralys Therapeutics, Inc. $MLYS Shares Sold by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB cut its holdings in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 13.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 142,571 shares of the company’s stock after selling 22,429 shares during the quarter. Rhenman & Partners Asset Management AB owned 0.18% of Mineralys Therapeutics worth $5,174,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MLYS. Navalign LLC acquired a new stake in Mineralys Therapeutics during the 4th quarter worth approximately $33,000. Smartleaf Asset Management LLC lifted its holdings in Mineralys Therapeutics by 198.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock worth $40,000 after buying an additional 676 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Mineralys Therapeutics by 14,091.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock worth $124,000 after buying an additional 3,241 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Mineralys Therapeutics by 50.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,846 shares of the company’s stock valued at $140,000 after purchasing an additional 1,283 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Mineralys Therapeutics by 29.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,775 shares of the company’s stock valued at $200,000 after purchasing an additional 3,390 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Mineralys Therapeutics Price Performance

NASDAQ MLYS opened at $23.62 on Friday. The firm’s fifty day moving average price is $27.83 and its 200 day moving average price is $30.61. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -11.52 and a beta of 0.57. Mineralys Therapeutics, Inc. has a 12 month low of $12.59 and a 12 month high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Wednesday, May 6th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.04. As a group, sell-side analysts forecast that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MLYS has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Bank of America raised their price objective on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, March 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. TD Cowen initiated coverage on shares of Mineralys Therapeutics in a report on Monday, April 27th. They issued a “buy” rating on the stock. Finally, HC Wainwright restated a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.33.

Insider Activity at Mineralys Therapeutics

In related news, Director Daphne Karydas sold 3,000 shares of the stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $25.00, for a total value of $75,000.00. Following the transaction, the director directly owned 6,200 shares of the company’s stock, valued at $155,000. This trade represents a 32.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through 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 stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $26.27, for a total transaction of $1,970,250.00. Following the completion of the transaction, the chief executive officer directly owned 705,051 shares in the company, valued at $18,521,689.77. This trade represents a 9.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 148,233 shares of company stock valued at $3,958,687. Corporate insiders own 18.94% of the company’s stock.

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.