Mineralys Therapeutics, Inc. $MLYS Shares Sold by Montanova Capital LLC

Montanova Capital LLC trimmed its stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 88.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,886 shares of the company’s stock after selling 1,364,776 shares during the quarter. Montanova Capital LLC owned 0.20% of Mineralys Therapeutics worth $4,691,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MLYS. Navalign LLC purchased a new stake in shares of Mineralys Therapeutics in the 4th quarter valued at approximately $33,000. KBC Group NV acquired a new stake in shares of Mineralys Therapeutics in the 1st quarter valued at $33,000. Royal Bank of Canada lifted its position in shares of Mineralys Therapeutics by 262.3% during 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. FNY Investment Advisers LLC lifted its position in shares of Mineralys Therapeutics by 400.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company’s stock worth $67,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Mineralys Therapeutics by 1,845.4% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Stock Up 0.3%

Shares of NASDAQ MLYS opened at $25.67 on Tuesday. The stock has a market cap of $2.27 billion, a PE ratio of -6.05 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, Inc. has a 52-week low of $14.94 and a 52-week high of $47.65. The business has a 50-day moving average price of $26.88 and a 200 day moving average price of $27.10.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly 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). Equities research analysts forecast that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MLYS. HC Wainwright reiterated a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Zacks Research downgraded shares of Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 13th. Jefferies Financial Group restated a “hold” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. Finally, 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. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $49.33.

Insider Buying and Selling at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 75,000 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $26.14, for a total value of $1,960,500.00. Following the completion of the sale, 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. The transaction was disclosed in a document filed 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, Director Daphne Karydas sold 3,000 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $25.00, for a total transaction of $75,000.00. Following the sale, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 224,333 shares of company stock valued at $5,806,213. 18.94% of the stock is currently owned by insiders.

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.