Man Group plc Acquires New Position in Mineralys Therapeutics, Inc. $MLYS

Man Group plc purchased a new position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 59,640 shares of the company’s stock, valued at approximately $1,609,000.

Other hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Mineralys Therapeutics by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock valued at $271,000 after buying an additional 702 shares during the period. Navalign LLC purchased a new stake in shares of Mineralys Therapeutics during the 4th quarter valued at about $33,000. Velan Capital Investment Management LP boosted its holdings in Mineralys Therapeutics by 0.6% in the 3rd quarter. Velan Capital Investment Management LP now owns 175,600 shares of the company’s stock worth $6,659,000 after acquiring an additional 1,000 shares during the period. Royal Bank of Canada boosted its holdings in Mineralys Therapeutics by 262.3% in the 4th quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock worth $56,000 after acquiring an additional 1,107 shares during the period. Finally, KBC Group NV acquired a new stake in Mineralys Therapeutics in the first quarter valued at approximately $33,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Mineralys Therapeutics Price Performance

Shares of NASDAQ MLYS opened at $25.57 on Wednesday. The business has a 50 day moving average price of $26.88 and a two-hundred day moving average price of $27.07. Mineralys Therapeutics, Inc. has a fifty-two week low of $22.00 and a fifty-two week high of $47.65. The firm has a market cap of $2.26 billion, a PE ratio of -6.03 and a beta of 0.68. The company has a quick ratio of 34.46, a current ratio of 34.46 and a debt-to-equity ratio of 0.18.

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

Analyst Ratings Changes

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

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 2,170 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $27.09, for a total transaction of $58,785.30. Following the completion of the transaction, the insider directly owned 51,384 shares of the company’s stock, valued at $1,391,992.56. This trade represents a 4.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $26.14, for a total transaction of $1,960,500.00. Following the completion of the sale, the chief executive officer directly owned 614,321 shares of the company’s stock, valued at $16,058,350.94. The trade was a 10.88% decrease in their position. 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 three months, insiders sold 224,333 shares of company stock valued at $5,806,213. Insiders own 18.94% of the company’s stock.

About Mineralys Therapeutics

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.