The Manufacturers Life Insurance Company Takes $864,000 Position in Mineralys Therapeutics, Inc. $MLYS

The Manufacturers Life Insurance Company acquired a new position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 32,007 shares of the company’s stock, valued at approximately $864,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Mineralys Therapeutics in the second quarter valued at approximately $158,832,000. State Street Corp raised its position in Mineralys Therapeutics by 144.4% during the 4th quarter. State Street Corp now owns 3,184,999 shares of the company’s stock worth $115,584,000 after buying an additional 1,881,976 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Mineralys Therapeutics by 6,097.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,325,120 shares of the company’s stock valued at $48,089,000 after acquiring an additional 1,303,737 shares during the period. Janus Henderson Group PLC lifted its stake in Mineralys Therapeutics by 6,012.8% during the 4th quarter. Janus Henderson Group PLC now owns 1,213,265 shares of the company’s stock valued at $44,005,000 after acquiring an additional 1,193,417 shares during the period. Finally, RA Capital Management L.P. lifted its stake in Mineralys Therapeutics by 19.1% during the 3rd quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company’s stock valued at $277,717,000 after acquiring an additional 1,176,470 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Mineralys Therapeutics Trading Down 0.2%

Shares of Mineralys Therapeutics stock opened at $28.21 on Friday. The firm has a 50-day simple moving average of $27.02 and a two-hundred day simple moving average of $27.09. The company has a debt-to-equity ratio of 0.18, a quick ratio of 34.46 and a current ratio of 34.46. Mineralys Therapeutics, Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $47.65. The company has a market cap of $2.49 billion, a P/E ratio of -6.65 and a beta of 0.68.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Wednesday, August 12th. The company reported ($2.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($2.30). As a group, equities analysts predict that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MLYS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Friday, July 17th. Wall Street Zen downgraded shares of Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. HC Wainwright reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Finally, Zacks Research lowered Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 13th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Mineralys Therapeutics presently has a consensus rating of “Hold” and an average target price of $49.33.

Insiders Place Their Bets

In other news, insider Eric Warren sold 7,437 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $25.98, for a total transaction of $193,213.26. Following the completion of the transaction, the insider directly owned 38,400 shares of the company’s stock, valued at $997,632. This represents a 16.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Rodman sold 2,170 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $27.09, for a total value of $58,785.30. Following the transaction, the insider owned 51,384 shares in the company, valued at $1,391,992.56. This trade represents a 4.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 224,333 shares of company stock valued at $5,806,213 in the last three months. 18.94% of the stock is currently owned by company insiders.

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.