Candriam S.C.A. Decreases Holdings in Mineralys Therapeutics, Inc. $MLYS

Candriam S.C.A. decreased its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 6.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 824,187 shares of the company’s stock after selling 58,646 shares during the period. Candriam S.C.A.’s holdings in Mineralys Therapeutics were worth $11,152,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MLYS. Police & Firemen s Retirement System of New Jersey raised its position in Mineralys Therapeutics by 29.4% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 9,234 shares of the company’s stock valued at $125,000 after purchasing an additional 2,098 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Mineralys Therapeutics by 19.0% in the 2nd quarter. Geode Capital Management LLC now owns 954,560 shares of the company’s stock worth $12,917,000 after purchasing an additional 152,560 shares during the period. ProShare Advisors LLC bought a new position in shares of Mineralys Therapeutics during the 2nd quarter valued at approximately $141,000. Profund Advisors LLC purchased a new stake in Mineralys Therapeutics during the 2nd quarter valued at $164,000. Finally, Fox Run Management L.L.C. purchased a new stake in Mineralys Therapeutics during the 2nd quarter valued at $220,000. 84.46% of the stock is owned by institutional investors.

Insider Activity

In related news, insider David Malcom Rodman sold 10,369 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $43.01, for a total value of $445,970.69. Following the completion of the sale, the insider owned 71,155 shares in the company, valued at approximately $3,060,376.55. The trade was a 12.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jon Congleton sold 200,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $45.44, for a total value of $9,088,000.00. Following the completion of the transaction, the chief executive officer directly owned 631,305 shares in the company, valued at approximately $28,686,499.20. This trade represents a 24.06% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 416,793 shares of company stock valued at $18,669,643. Insiders own 25.56% of the company’s stock.

Mineralys Therapeutics Trading Down 7.8%

NASDAQ MLYS opened at $40.85 on Friday. The stock has a market cap of $3.23 billion, a PE ratio of -13.85 and a beta of 0.40. Mineralys Therapeutics, Inc. has a 12 month low of $8.24 and a 12 month high of $47.65. The company’s 50-day moving average price is $40.17 and its 200-day moving average price is $23.97.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.14. As a group, sell-side analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. HC Wainwright lifted their price objective on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday. Bank of America raised their target price on shares of Mineralys Therapeutics from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Jefferies Financial Group lifted their price target on shares of Mineralys Therapeutics from $15.00 to $26.00 and gave the stock a “hold” rating in a research note on Wednesday, September 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Wednesday, October 8th. Finally, Wells Fargo & Company raised their price objective on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Mineralys Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $46.67.

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.