In a significant portfolio shift, Steve Cohen's Point72 Asset Management fully exited its position in Mineralys Therapeutics (MLYS) during the second quarter of 2026. According to a recent SEC filing, the firm sold its entire stake of 1.91 million shares, which had been valued at approximately $51.78 million as of March 31, 2026. This disclosure, made in a delayed 13F filing, reflects trades executed between April 1 and June 30.
The move precedes a critical catalyst for the biopharmaceutical company, which has an FDA decision for its lead hypertension drug, lorundrostat, expected in December 2026. During the same quarter as Point72's exit, Mineralys reported a substantial net loss and announced changes to its executive team, appointing a new Chief Medical Officer. The filing provides no specific reason for the sale.