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

Bellevue Group AG trimmed its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 5.7% during the third quarter, Holdings Channel reports. 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 quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caligan Partners LP boosted its position in shares of Mineralys Therapeutics by 31.6% in 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 last quarter. Nantahala Capital Management LLC raised its stake in Mineralys Therapeutics by 60.1% during the second quarter. Nantahala Capital Management LLC now owns 532,506 shares of the company’s stock worth $6,230,000 after purchasing an additional 200,000 shares during the period. Driehaus Capital Management LLC boosted its holdings in shares of Mineralys Therapeutics by 40.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 257,371 shares of the company’s stock valued at $3,011,000 after purchasing an additional 74,074 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Mineralys Therapeutics by 72.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 84,762 shares of the company’s stock valued at $992,000 after purchasing an additional 35,634 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Mineralys Therapeutics by 12.0% during the 3rd quarter. FMR LLC now owns 303,758 shares of the company’s stock valued at $3,679,000 after buying an additional 32,663 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Mineralys Therapeutics Stock Performance

MLYS opened at $12.77 on Monday. Mineralys Therapeutics, Inc. has a 1 year low of $6.38 and a 1 year high of $16.91. The firm has a 50 day moving average price of $13.15 and a 200 day moving average price of $12.57. The company has a market cap of $635.56 million, a PE ratio of -3.91 and a beta of 1.71.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data 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 in the prior year, the business earned ($0.57) EPS. On average, sell-side analysts predict that Mineralys Therapeutics, Inc. will post -3.63 earnings per share for the current year.

Insider Buying and Selling at Mineralys Therapeutics

In other news, insider David Malcom Rodman sold 25,482 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $15.03, for a total value of $382,994.46. Following the completion of the sale, the insider now owns 135,974 shares in the company, valued at approximately $2,043,689.22. This trade represents a 15.78 % decrease in their ownership of the stock. The transaction 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 dated Friday, October 11th. The shares were sold at an average price of $13.52, for a total value of $206,463.92. Following the sale, the chief executive officer now owns 895,941 shares in the company, valued at approximately $12,113,122.32. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,510 shares of company stock valued at $735,431 over the last three months. 33.24% of the stock is owned by company insiders.

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.