Mineralys Therapeutics, Inc. $MLYS Shares Sold by Candriam S.C.A.

Candriam S.C.A. trimmed its stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 31.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 567,781 shares of the company’s stock after selling 256,406 shares during the period. Candriam S.C.A. owned about 0.86% of Mineralys Therapeutics worth $21,530,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Mineralys Therapeutics by 51.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock worth $34,000 after acquiring an additional 850 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of 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 acquiring an additional 676 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in Mineralys Therapeutics by 42.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,995 shares of the company’s stock worth $54,000 after purchasing an additional 1,197 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Mineralys Therapeutics during the 2nd quarter worth $91,000. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in Mineralys Therapeutics by 29.4% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 9,234 shares of the company’s stock valued at $125,000 after acquiring an additional 2,098 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Buying and Selling

In other news, Director Daphne Karydas sold 15,000 shares of the stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $45.99, for a total transaction of $689,850.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Taylor Slingsby sold 1,000,000 shares of the stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $43.35, for a total value of $43,350,000.00. Following the transaction, the director owned 7,903,838 shares of the company’s stock, valued at approximately $342,631,377.30. This trade represents a 11.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,352,431 shares of company stock valued at $56,006,614. 33.24% of the stock is owned by corporate insiders.

Mineralys Therapeutics Stock Up 6.6%

MLYS stock opened at $31.74 on Tuesday. Mineralys Therapeutics, Inc. has a twelve month low of $8.24 and a twelve month high of $47.65. The company has a market cap of $2.51 billion, a P/E ratio of -10.76 and a beta of 0.52. The business’s fifty day moving average is $34.68 and its 200-day moving average is $33.26.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Monday, November 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.14. Research analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MLYS shares. Stifel Nicolaus increased their price objective on Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, December 19th. HC Wainwright upped their target price on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Wells Fargo & Company upped 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. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Thursday, January 22nd. Six research 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.43.

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.