Virtus Investment Advisers LLC Sells 7,192 Shares of Mineralys Therapeutics, Inc. $MLYS

Virtus Investment Advisers LLC lessened its holdings in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 53.3% during the second quarter, HoldingsChannel.com reports. The firm owned 6,302 shares of the company’s stock after selling 7,192 shares during the quarter. Virtus Investment Advisers LLC’s holdings in Mineralys Therapeutics were worth $85,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. RA Capital Management L.P. raised its position in shares of Mineralys Therapeutics by 26.7% in the first quarter. RA Capital Management L.P. now owns 6,147,280 shares of the company’s stock valued at $97,619,000 after buying an additional 1,296,296 shares in the last quarter. SR One Capital Management LP increased its stake in Mineralys Therapeutics by 55.1% during the 1st quarter. SR One Capital Management LP now owns 3,127,933 shares of the company’s stock worth $49,672,000 after acquiring an additional 1,111,111 shares during the period. Vanguard Group Inc. increased its stake in Mineralys Therapeutics by 42.1% during the 1st quarter. Vanguard Group Inc. now owns 2,035,506 shares of the company’s stock worth $32,324,000 after acquiring an additional 603,464 shares during the period. Candriam S.C.A. raised its holdings in Mineralys Therapeutics by 189.2% in the 1st quarter. Candriam S.C.A. now owns 882,833 shares of the company’s stock valued at $14,019,000 after acquiring an additional 577,561 shares in the last quarter. Finally, 22NW LP bought a new stake in shares of Mineralys Therapeutics during the 1st quarter valued at $7,326,000. 84.46% of the stock is owned by institutional investors.

Mineralys Therapeutics Trading Down 0.5%

Shares of NASDAQ MLYS opened at $43.16 on Monday. The company has a market cap of $3.42 billion, a price-to-earnings ratio of -14.63 and a beta of 0.40. Mineralys Therapeutics, Inc. has a 12 month low of $8.24 and a 12 month high of $47.65. The stock has a 50-day moving average price of $41.19 and a two-hundred day moving average price of $26.06.

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

Analyst Ratings Changes

MLYS has been the topic of several analyst reports. Bank of America increased their target price on Mineralys Therapeutics from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Wells Fargo & Company increased their price objective on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. The Goldman Sachs Group raised their target price on shares of Mineralys Therapeutics from $32.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group upped their price target on shares of Mineralys Therapeutics from $15.00 to $26.00 and gave the stock a “hold” rating in a report on Wednesday, September 3rd. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $46.67.

Insider Transactions at Mineralys Therapeutics

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 119,524 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $44.88, for a total transaction of $5,364,237.12. Following the sale, the chief financial officer owned 19,396 shares of the company’s stock, valued at approximately $870,492.48. The trade was a 86.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brian Taylor Slingsby sold 1,000,000 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $43.35, for a total transaction of $43,350,000.00. Following the transaction, the director owned 7,903,838 shares of the company’s stock, valued at $342,631,377.30. This trade represents a 11.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,416,793 shares of company stock valued at $62,019,643. Corporate insiders own 33.24% 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.