Mineralys Therapeutics, Inc. $MLYS Stake Increased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 21.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,034,438 shares of the company’s stock after buying an additional 181,555 shares during the period. Pictet Asset Management Holding SA’s holdings in Mineralys Therapeutics were worth $28,023,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Navalign LLC purchased a new stake in Mineralys Therapeutics in the 4th quarter worth about $33,000. Royal Bank of Canada grew its stake in Mineralys Therapeutics by 262.3% during the 4th quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock valued at $56,000 after acquiring an additional 1,107 shares in the last quarter. Caitong International Asset Management Co. Ltd increased 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 valued at $76,000 after purchasing an additional 1,993 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Mineralys Therapeutics by 14,091.3% in 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. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Mineralys Therapeutics by 50.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,846 shares of the company’s stock valued at $140,000 after purchasing an additional 1,283 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on MLYS. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. Bank of America upped their price objective on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, March 13th. TD Cowen initiated coverage on shares of Mineralys Therapeutics in a research report on Monday, April 27th. They issued a “buy” rating for the company. HC Wainwright reissued a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Finally, Jefferies Financial Group restated a “hold” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Six investment 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.33.

Mineralys Therapeutics Trading Down 0.3%

Shares of NASDAQ:MLYS opened at $26.89 on Thursday. The firm has a market capitalization of $2.22 billion, a PE ratio of -13.12 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’s 50 day moving average is $27.12 and its 200-day moving average is $29.24.

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

Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, insider Eric Warren sold 104,124 shares of the business’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $25.90, for a total value of $2,696,811.60. Following the sale, the insider owned 38,400 shares of the company’s stock, valued at $994,560. The trade was a 73.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daphne Karydas sold 3,000 shares of the stock in a transaction 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 completion of the transaction, the director owned 6,200 shares of the company’s stock, valued at approximately $155,000. This represents a 32.61% 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 quarter, insiders sold 266,831 shares of company stock worth $6,995,829. Corporate insiders own 18.94% of the company’s stock.

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.