Bellevue Group AG Lowers Stock Position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Bellevue Group AG trimmed its holdings in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 5.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,499 shares of the company’s stock after selling 1,000 shares during the period. Bellevue Group AG’s holdings in Mineralys Therapeutics were worth $200,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MLYS. Caligan Partners LP grew its holdings in Mineralys Therapeutics by 31.6% during the third quarter. Caligan Partners LP now owns 981,155 shares of the company’s stock worth $11,882,000 after acquiring an additional 235,397 shares during the period. PDT Partners LLC purchased a new stake in shares of Mineralys Therapeutics during the 3rd quarter worth $148,000. Verition Fund Management LLC grew its stake in shares of Mineralys Therapeutics by 30.6% during the 3rd quarter. Verition Fund Management LLC now owns 27,361 shares of the company’s stock worth $331,000 after purchasing an additional 6,408 shares during the period. Martingale Asset Management L P purchased a new position in shares of Mineralys Therapeutics in the 3rd quarter valued at about $181,000. Finally, FMR LLC lifted its stake in shares of Mineralys Therapeutics by 12.0% in the third quarter. FMR LLC now owns 303,758 shares of the company’s stock valued at $3,679,000 after purchasing an additional 32,663 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

Mineralys Therapeutics Stock Performance

Shares of MLYS stock opened at $12.77 on Monday. The stock has a fifty day moving average price of $13.15 and a 200 day moving average price of $12.57. The stock has a market cap of $635.56 million, a PE ratio of -3.91 and a beta of 1.71. Mineralys Therapeutics, Inc. has a 1 year low of $6.38 and a 1 year high of $16.91.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings results on Monday, November 11th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.30). During the same period last year, the business earned ($0.57) earnings per share. As a group, equities research analysts predict that Mineralys Therapeutics, Inc. will post -3.63 earnings per share for the current year.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Mineralys Therapeutics in a research report on Tuesday, November 12th.

Insiders Place Their Bets

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 25,482 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $15.03, for a total transaction of $382,994.46. Following the sale, the insider now owns 135,974 shares in the company, valued at approximately $2,043,689.22. This represents a 15.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jon Congleton sold 15,271 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $13.52, for a total value of $206,463.92. Following the transaction, the chief executive officer now directly owns 895,941 shares of the company’s stock, valued at $12,113,122.32. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,510 shares of company stock worth $735,431. Insiders own 33.24% of the company’s stock.

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.