Mineralys Therapeutics, Inc. $MLYS Stock Sold by Candriam S.C.A.

Candriam S.C.A. decreased its stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 14.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 729,902 shares of the company’s stock after selling 127,135 shares during the period. Candriam S.C.A.’s holdings in Mineralys Therapeutics were worth $18,409,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MLYS. BlackRock Inc. bought a new stake in Mineralys Therapeutics during the 2nd quarter worth about $158,832,000. Orbimed Advisors LLC grew its stake in shares of Mineralys Therapeutics by 109.4% during the first quarter. Orbimed Advisors LLC now owns 2,052,900 shares of the company’s stock valued at $55,613,000 after purchasing an additional 1,072,500 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Mineralys Therapeutics during the second quarter valued at approximately $40,620,000. Jennison Associates LLC increased its holdings in shares of Mineralys Therapeutics by 0.6% in the first quarter. Jennison Associates LLC now owns 1,266,174 shares of the company’s stock valued at $34,301,000 after purchasing an additional 7,521 shares in the last quarter. Finally, Nantahala Capital Management LLC acquired a new stake in shares of Mineralys Therapeutics in the second quarter valued at approximately $22,136,577. Institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Stock Performance

Mineralys Therapeutics stock opened at $15.33 on Monday. The company has a current ratio of 11.83, a quick ratio of 11.83 and a debt-to-equity ratio of 0.15. Mineralys Therapeutics, Inc. has a 1 year low of $14.91 and a 1 year high of $47.65. The company has a market cap of $1.36 billion, a PE ratio of -3.52 and a beta of 0.83. The company’s 50-day moving average is $23.78 and its two-hundred day moving average is $26.61.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.09). Equities analysts anticipate that Mineralys Therapeutics, Inc. will post -4.60 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MLYS shares. UBS Group began coverage on shares of Mineralys Therapeutics in a research report on Sunday, October 11th. They issued a “neutral” rating and a $29.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Thursday, October 15th. HC Wainwright reiterated a “buy” rating and issued a $56.00 price objective on shares of Mineralys Therapeutics in a research report on Monday, October 12th. Wall Street Zen cut Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Finally, Zacks Research raised Mineralys Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, September 11th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $45.50.

Insider Buying and Selling at Mineralys Therapeutics

In related news, Director Brian Slingsby sold 104,320 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $28.81, for a total value of $3,005,459.20. Following the transaction, the director directly owned 7,805,718 shares in the company, valued at $224,882,735.58. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daphne Karydas sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $28.58, for a total transaction of $85,740.00. Following the completion of the transaction, the director directly owned 6,200 shares in the company, valued at approximately $177,196. The trade was a 32.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 197,195 shares of company stock valued at $5,403,069. 18.94% of the stock is currently owned by corporate insiders.

Mineralys Therapeutics Company Profile

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cardiovascular and kidney diseases associated with excess aldosterone activity. The company’s research centers on selectively targeting aldosterone production, a mechanism involved in blood-pressure regulation and organ damage.

Mineralys’ lead product candidate is lorundrostat, an oral, selective aldosterone synthase inhibitor being evaluated as a potential treatment for uncontrolled and resistant hypertension.