Kingswood Wealth Advisors LLC Makes New Investment in Mineralys Therapeutics, Inc. $MLYS

Kingswood Wealth Advisors LLC acquired a new stake in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) during the third quarter, Holdings Channel.com reports. The firm acquired 16,143 shares of the company’s stock, valued at approximately $612,000.

Several other institutional investors have also modified their holdings of MLYS. Orbimed Advisors LLC purchased a new position in Mineralys Therapeutics in the second quarter valued at $10,288,000. Stempoint Capital LP boosted its position in shares of Mineralys Therapeutics by 605.3% during the 2nd quarter. Stempoint Capital LP now owns 631,586 shares of the company’s stock worth $8,551,000 after acquiring an additional 756,586 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of Mineralys Therapeutics in the 2nd quarter valued at about $4,751,000. Swedbank AB purchased a new position in shares of Mineralys Therapeutics in the 1st quarter valued at about $5,204,000. Finally, Prudential Financial Inc. raised its position in shares of Mineralys Therapeutics by 176.5% during the 2nd quarter. Prudential Financial Inc. now owns 352,225 shares of the company’s stock worth $4,766,000 after acquiring an additional 224,815 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, CEO Jon Congleton sold 200,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $45.44, for a total transaction of $9,088,000.00. Following the completion of the sale, the chief executive officer directly owned 631,305 shares of the company’s stock, valued at approximately $28,686,499.20. This trade represents a 24.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Malcom Rodman sold 192,715 shares of Mineralys Therapeutics stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $35.02, for a total value of $6,748,879.30. Following the completion of the transaction, the insider owned 61,804 shares in the company, valued at $2,164,376.08. This trade represents a 75.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,668,178 shares of company stock valued at $70,871,538. Corporate insiders own 25.56% of the company’s stock.

Mineralys Therapeutics Price Performance

Shares of Mineralys Therapeutics stock opened at $33.37 on Friday. The firm’s fifty day simple moving average is $39.00 and its 200-day simple moving average is $30.51. Mineralys Therapeutics, Inc. has a 12 month low of $8.24 and a 12 month high of $47.65. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -11.31 and a beta of 0.49.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings data 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. Analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MLYS shares. HC Wainwright increased their price target 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. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Wednesday, October 8th. Stifel Nicolaus lifted their price target on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Finally, Wells Fargo & Company boosted their price target on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Mineralys Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $47.43.

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.