Timothy G. Youngquist 2020 Irrevocable Trust Buys Shares of 100,869 Mineralys Therapeutics, Inc. $MLYS

Timothy G. Youngquist 2020 Irrevocable Trust bought a new stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) during the second quarter, Holdings Channel reports. The fund bought 100,869 shares of the company’s stock, valued at approximately $2,721,000. Mineralys Therapeutics accounts for 0.5% of Timothy G. Youngquist 2020 Irrevocable Trust’s investment portfolio, making the stock its 18th largest holding.

Several other large investors have also modified their holdings of the business. BlackRock Inc. bought a new position in shares of Mineralys Therapeutics during the second quarter valued at approximately $158,832,000. Deutsche Bank AG purchased a new position in Mineralys Therapeutics during the second quarter valued at approximately $1,589,000. TimesSquare Capital Management LLC bought a new position in Mineralys Therapeutics in the second quarter worth approximately $6,363,000. Persistent Asset Partners Ltd bought a new position in Mineralys Therapeutics in the second quarter worth approximately $389,000. Finally, Bank of New York Mellon Corp purchased a new stake in Mineralys Therapeutics during the second quarter worth $4,278,000. Institutional investors own 84.46% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Jon Congleton sold 75,000 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $26.14, for a total transaction of $1,960,500.00. Following the transaction, the chief executive officer directly owned 614,321 shares in the company, valued at $16,058,350.94. The trade was a 10.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Malcom Rodman sold 2,170 shares of the company’s stock in a transaction dated 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 directly owned 51,384 shares in the company, valued at $1,391,992.56. This represents a 4.05% 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. In the last 90 days, insiders have sold 216,896 shares of company stock worth $5,613,000. 18.94% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MLYS shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Zacks Research lowered Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 13th. Wall Street Zen cut Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Friday, July 17th. Finally, TD Cowen initiated coverage on Mineralys Therapeutics in a research report on Monday, April 27th. They set a “buy” rating on the stock. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $49.33.

Mineralys Therapeutics Trading Up 2.1%

NASDAQ MLYS opened at $26.61 on Wednesday. The company has a quick ratio of 34.46, a current ratio of 34.46 and a debt-to-equity ratio of 0.18. The firm has a market cap of $2.35 billion, a PE ratio of -6.28 and a beta of 0.68. The company has a 50 day moving average price of $26.60 and a 200 day moving average price of $27.41. Mineralys Therapeutics, Inc. has a 52 week low of $14.26 and a 52 week high of $47.65.

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