Mineralys Therapeutics (NASDAQ:MLYS) Director Sells $43,350,000.00 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Director Brian Taylor Slingsby sold 1,000,000 shares of the stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $43.35, for a total value of $43,350,000.00. Following the completion of the sale, the director owned 7,903,838 shares of the company’s stock, valued at approximately $342,631,377.30. This represents a 11.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Mineralys Therapeutics Stock Performance

Shares of Mineralys Therapeutics stock remained flat at $41.87 during trading hours on Friday. 1,675,839 shares of the stock were exchanged, compared to its average volume of 1,175,835. Mineralys Therapeutics, Inc. has a one year low of $8.24 and a one year high of $47.65. The business’s 50 day moving average price is $40.70 and its 200 day moving average price is $24.93. The stock has a market capitalization of $3.31 billion, a PE ratio of -14.19 and a beta of 0.40.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.14. Analysts expect that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in MLYS. Armistice Capital LLC lifted its position in shares of Mineralys Therapeutics by 185.2% during the third quarter. Armistice Capital LLC now owns 507,650 shares of the company’s stock worth $19,250,000 after acquiring an additional 329,650 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Mineralys Therapeutics during the 3rd quarter worth approximately $714,000. Velan Capital Investment Management LP lifted its holdings in shares of Mineralys Therapeutics by 0.6% during the third quarter. Velan Capital Investment Management LP now owns 175,600 shares of the company’s stock valued at $6,659,000 after purchasing an additional 1,000 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Mineralys Therapeutics during the 3rd quarter valued at about $700,000. Finally, Scientech Research LLC purchased a new position in shares of Mineralys Therapeutics in the third quarter worth $302,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MLYS. HC Wainwright raised their price objective on Mineralys Therapeutics from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Bank of America lifted their price objective on Mineralys Therapeutics from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Wells Fargo & Company boosted their price objective on Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. Wall Street Zen upgraded shares of Mineralys Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 22nd. Finally, The Goldman Sachs Group upped their target price on shares of Mineralys Therapeutics from $32.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $46.67.

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.