Wellington Management Group LLP Lowers Holdings in Mineralys Therapeutics, Inc. $MLYS

Wellington Management Group LLP decreased its position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 76.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 806,716 shares of the company’s stock after selling 2,552,352 shares during the period. Wellington Management Group LLP owned approximately 0.91% of Mineralys Therapeutics worth $21,765,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Nantahala Capital Management LLC bought a new stake in Mineralys Therapeutics during the 2nd quarter valued at about $22,136,577. Capstone Investment Advisors LLC bought a new position in shares of Mineralys Therapeutics in the second quarter worth approximately $226,000. Artia Global Partners LP purchased a new stake in shares of Mineralys Therapeutics during the second quarter valued at approximately $3,718,000. Bank of America Corp DE purchased a new stake in shares of Mineralys Therapeutics during the second quarter valued at approximately $40,620,000. Finally, Man Group plc bought a new stake in shares of Mineralys Therapeutics during the second quarter valued at approximately $1,609,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Mineralys Therapeutics

In other news, insider Eric Warren sold 104,124 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $25.90, for a total transaction of $2,696,811.60. Following the completion of the sale, the insider owned 38,400 shares of the company’s stock, valued at $994,560. This represents a 73.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daphne Karydas sold 3,000 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $25.00, for a total transaction of $75,000.00. Following the sale, the director directly owned 6,200 shares of the company’s stock, valued at $155,000. The trade was a 32.61% decrease in their position. 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. Insiders sold a total of 224,333 shares of company stock worth $5,806,213 in the last ninety days. Insiders own 18.94% of the company’s stock.

Wall Street Analyst Weigh In

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

Mineralys Therapeutics Stock Performance

NASDAQ:MLYS opened at $28.21 on Monday. The company has a market cap of $2.49 billion, a PE ratio of -6.65 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. The company has a 50 day simple moving average of $27.02 and a two-hundred day simple moving average of $27.09. Mineralys Therapeutics, Inc. has a 12 month low of $22.30 and a 12 month high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($2.85) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($2.30). Research analysts forecast that Mineralys Therapeutics, Inc. will post -4.45 earnings per share 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.