Mineralys Therapeutics, Inc. $MLYS Shares Purchased by Seven Fleet Capital Management LP

Seven Fleet Capital Management LP boosted its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 65.5% during the first quarter, HoldingsChannel.com reports. The fund owned 69,571 shares of the company’s stock after acquiring an additional 27,546 shares during the period. Seven Fleet Capital Management LP’s holdings in Mineralys Therapeutics were worth $1,885,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Navalign LLC bought a new position in shares of Mineralys Therapeutics during the fourth quarter valued at approximately $33,000. KBC Group NV acquired a new stake in shares of Mineralys Therapeutics during the 1st quarter worth approximately $33,000. Royal Bank of Canada lifted its holdings in shares of 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 purchasing an additional 1,107 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Mineralys Therapeutics by 1,845.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock worth $76,000 after purchasing an additional 1,993 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Mineralys Therapeutics by 14,091.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock valued at $124,000 after purchasing an additional 3,241 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Mineralys Therapeutics

In related news, Director Daphne Karydas sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $25.00, for a total transaction of $75,000.00. Following the transaction, the director owned 6,200 shares in the company, valued at $155,000. This trade represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $26.14, for a total transaction of $1,960,500.00. Following the transaction, the chief executive officer owned 614,321 shares in the company, valued at $16,058,350.94. This represents a 10.88% 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 237,718 shares of company stock worth $6,218,301 in the last 90 days. Corporate insiders own 18.94% of the company’s stock.

Analysts Set New Price Targets

MLYS has been the subject of a number of recent research reports. Wall Street Zen downgraded Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. TD Cowen initiated coverage on shares of Mineralys Therapeutics in a report on Monday, April 27th. They set a “buy” rating for the company. Jefferies Financial Group reissued a “hold” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. HC Wainwright restated a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $49.33.

Mineralys Therapeutics Stock Performance

NASDAQ:MLYS opened at $25.52 on Friday. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -12.45 and a beta of 0.66. Mineralys Therapeutics, Inc. has a 1 year low of $12.59 and a 1 year high of $47.65. The business has a fifty day moving average of $26.88 and a 200-day moving average of $27.95.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.04. On average, equities research analysts predict that Mineralys Therapeutics, Inc. will post -2.3 EPS for the current year.

Mineralys Therapeutics Company 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.