Capital International Investors Sells 505,624 Shares of Mineralys Therapeutics, Inc. $MLYS

Capital International Investors decreased its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 17.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,393,396 shares of the company’s stock after selling 505,624 shares during the period. Capital International Investors owned about 3.02% of Mineralys Therapeutics worth $90,758,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Orbimed Advisors LLC bought a new position in shares of Mineralys Therapeutics in the second quarter worth about $10,288,000. Stempoint Capital LP lifted its holdings in Mineralys Therapeutics by 605.3% during the 2nd quarter. Stempoint Capital LP now owns 631,586 shares of the company’s stock valued at $8,551,000 after buying an additional 756,586 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Mineralys Therapeutics by 29.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,018,999 shares of the company’s stock valued at $114,480,000 after buying an additional 692,550 shares in the last quarter. Barclays PLC boosted its position in Mineralys Therapeutics by 354.4% in the 3rd quarter. Barclays PLC now owns 653,830 shares of the company’s stock valued at $24,793,000 after buying an additional 509,946 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new stake in Mineralys Therapeutics in the 2nd quarter valued at about $4,751,000. 84.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on MLYS shares. Wall Street Zen lowered shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. HC Wainwright set a $56.00 price target on Mineralys Therapeutics and gave the company a “buy” rating in a report on Tuesday. Stifel Nicolaus increased their price objective on Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Mineralys Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.43.

Mineralys Therapeutics Stock Down 1.6%

Shares of MLYS stock opened at $27.97 on Thursday. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of -9.48 and a beta of 0.57. Mineralys Therapeutics, Inc. has a 52-week low of $10.44 and a 52-week high of $47.65. The company’s 50 day moving average is $30.83 and its 200 day moving average is $35.35.

Insider Buying and Selling at Mineralys Therapeutics

In other news, CFO Adam Scott Levy sold 10,758 shares of Mineralys Therapeutics stock in a transaction on Monday, January 12th. The stock was sold at an average price of $32.14, for a total value of $345,762.12. Following the transaction, the chief financial officer directly owned 8,638 shares in the company, valued at approximately $277,625.32. This trade represents a 55.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jon Congleton sold 16,236 shares of the business’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $32.62, for a total value of $529,618.32. Following the completion of the transaction, the chief executive officer directly owned 639,151 shares of the company’s stock, valued at approximately $20,849,105.62. The trade was a 2.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 342,919 shares of company stock valued at $11,755,439. 25.56% of the stock is currently owned by corporate insiders.

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.