TimesSquare Capital Management LLC Takes Position in Mineralys Therapeutics, Inc. $MLYS

TimesSquare Capital Management LLC purchased a new position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 235,858 shares of the company’s stock, valued at approximately $6,363,000.

Other institutional investors also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its position in shares of Mineralys Therapeutics by 234.4% during the fourth quarter. Jennison Associates LLC now owns 1,258,653 shares of the company’s stock worth $45,677,000 after acquiring an additional 882,307 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Mineralys Therapeutics by 11.5% in the 1st quarter. Bank of America Corp DE now owns 1,100,372 shares of the company’s stock valued at $29,809,000 after acquiring an additional 113,092 shares during the period. Artia Global Partners LP increased its holdings in shares of Mineralys Therapeutics by 143.5% in the 4th quarter. Artia Global Partners LP now owns 137,800 shares of the company’s stock valued at $5,001,000 after acquiring an additional 81,200 shares during the period. UBS Group AG raised its position in Mineralys Therapeutics by 124.9% in the 4th quarter. UBS Group AG now owns 201,280 shares of the company’s stock valued at $7,304,000 after purchasing an additional 111,776 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its position in Mineralys Therapeutics by 321.2% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 132,099 shares of the company’s stock valued at $3,579,000 after purchasing an additional 100,740 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Mineralys Therapeutics Price Performance

Shares of NASDAQ MLYS opened at $26.05 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 34.46 and a quick ratio of 34.46. The stock has a fifty day moving average price of $26.55 and a 200 day moving average price of $27.45. Mineralys Therapeutics, Inc. has a 1-year low of $14.26 and a 1-year high of $47.65. The company has a market cap of $2.30 billion, a PE ratio of -6.14 and a beta of 0.68.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($2.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($2.30). Sell-side analysts forecast that Mineralys Therapeutics, Inc. will post -4.46 EPS for the current year.

Insider Activity

In other news, Director Daphne Karydas sold 3,000 shares of Mineralys Therapeutics stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $25.00, for a total value of $75,000.00. Following the sale, the director owned 6,200 shares of the company’s stock, valued at $155,000. The trade was a 32.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Malcom Rodman sold 2,170 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $27.09, for a total transaction of $58,785.30. Following the transaction, the insider owned 51,384 shares in the company, valued at approximately $1,391,992.56. This trade represents a 4.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 216,896 shares of company stock worth $5,613,000 over the last quarter. Insiders own 18.94% of the company’s stock.

Analysts Set New Price Targets

MLYS has been the topic of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. TD Cowen initiated coverage on shares of Mineralys Therapeutics in a report on Monday, April 27th. They issued a “buy” rating for the company. HC Wainwright reissued a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Wall Street Zen lowered Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday. Finally, Zacks Research cut Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 13th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Mineralys Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $49.33.

About Mineralys Therapeutics

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.