Troluce Capital Advisors LLC Makes New $17.74 Million Investment in Mineralys Therapeutics, Inc. $MLYS

Troluce Capital Advisors LLC acquired a new position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) during the first quarter, HoldingsChannel reports. The firm acquired 655,000 shares of the company’s stock, valued at approximately $17,744,000. Mineralys Therapeutics accounts for 1.1% of Troluce Capital Advisors LLC’s holdings, making the stock its 26th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC boosted its position in shares of Mineralys Therapeutics by 130.7% in the fourth quarter. SG Americas Securities LLC now owns 230,795 shares of the company’s stock worth $8,376,000 after buying an additional 130,758 shares during the period. Jennison Associates LLC increased its stake in shares of Mineralys Therapeutics by 234.4% in the fourth quarter. Jennison Associates LLC now owns 1,258,653 shares of the company’s stock worth $45,677,000 after buying an additional 882,307 shares during the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of Mineralys Therapeutics in the 4th quarter worth about $13,794,000. UBS Group AG raised its stake in Mineralys Therapeutics by 124.9% during the fourth quarter. UBS Group AG now owns 201,280 shares of the company’s stock valued at $7,304,000 after buying an additional 111,776 shares in the last quarter. Finally, Profund Advisors LLC raised its position in shares of Mineralys Therapeutics by 548.1% during the 4th quarter. Profund Advisors LLC now owns 47,024 shares of the company’s stock valued at $1,707,000 after acquiring an additional 39,768 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group restated a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Wall Street Zen cut shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. HC Wainwright reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. TD Cowen started coverage on Mineralys Therapeutics in a research report on Monday, April 27th. They set a “buy” rating on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $49.33.

Insider Activity

In other news, insider Eric Warren sold 104,124 shares of Mineralys Therapeutics stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $25.90, for a total transaction of $2,696,811.60. Following the sale, the insider owned 38,400 shares of the company’s stock, valued at approximately $994,560. The trade was a 73.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Malcom Rodman sold 2,171 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $30.30, for a total value of $65,781.30. Following the transaction, the insider owned 57,733 shares of the company’s stock, valued at approximately $1,749,309.90. This represents a 3.62% decrease in their ownership of the stock. 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 have sold a total of 230,280 shares of company stock worth $6,018,442 over the last ninety days. 18.94% of the stock is owned by company insiders.

Mineralys Therapeutics Stock Performance

Mineralys Therapeutics stock opened at $26.71 on Monday. Mineralys Therapeutics, Inc. has a one year low of $12.59 and a one year high of $47.65. The company has a 50-day simple moving average of $27.05 and a 200-day simple moving average of $28.19. The firm has a market capitalization of $2.20 billion, a P/E ratio of -13.03 and a beta of 0.66.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.04. As a group, sell-side analysts forecast that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current year.

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.