Virtus Investment Advisers LLC Sells 7,192 Shares of Mineralys Therapeutics, Inc. $MLYS

Virtus Investment Advisers LLC lessened its holdings in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 53.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,302 shares of the company’s stock after selling 7,192 shares during the period. Virtus Investment Advisers LLC’s holdings in Mineralys Therapeutics were worth $85,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. RA Capital Management L.P. raised its holdings in Mineralys Therapeutics by 26.7% during the 1st quarter. RA Capital Management L.P. now owns 6,147,280 shares of the company’s stock worth $97,619,000 after buying an additional 1,296,296 shares during the period. SR One Capital Management LP boosted its holdings in shares of Mineralys Therapeutics by 55.1% in the first quarter. SR One Capital Management LP now owns 3,127,933 shares of the company’s stock valued at $49,672,000 after buying an additional 1,111,111 shares during the period. Vanguard Group Inc. increased its position in shares of Mineralys Therapeutics by 42.1% during the first quarter. Vanguard Group Inc. now owns 2,035,506 shares of the company’s stock worth $32,324,000 after acquiring an additional 603,464 shares in the last quarter. Candriam S.C.A. raised its holdings in shares of Mineralys Therapeutics by 189.2% during the first quarter. Candriam S.C.A. now owns 882,833 shares of the company’s stock worth $14,019,000 after acquiring an additional 577,561 shares during the period. Finally, 22NW LP acquired a new stake in shares of Mineralys Therapeutics during the first quarter worth $7,326,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group upped their target price 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. Wells Fargo & Company upped their price objective on Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Wednesday, October 8th. Wall Street Zen raised Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. Finally, HC Wainwright boosted their target price on Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Mineralys Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $46.67.

Mineralys Therapeutics Stock Performance

Shares of NASDAQ MLYS opened at $43.16 on Monday. The stock has a 50 day moving average price of $41.19 and a 200 day moving average price of $26.06. The stock has a market capitalization of $3.42 billion, a PE ratio of -14.63 and a beta of 0.40. Mineralys Therapeutics, Inc. has a 52 week low of $8.24 and a 52 week high of $47.65.

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

Insiders Place Their Bets

In other news, Director Brian Taylor Slingsby sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $43.35, for a total value of $43,350,000.00. Following the transaction, the director owned 7,903,838 shares of the company’s stock, valued at approximately $342,631,377.30. This represents a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Adam Scott Levy sold 119,524 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $44.88, for a total value of $5,364,237.12. Following the transaction, the chief financial officer owned 19,396 shares in the company, valued at approximately $870,492.48. This trade represents a 86.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,416,793 shares of company stock worth $62,019,643 in the last three months. Insiders own 33.24% 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.