Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Director Sells $75,000.00 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Director Daphne Karydas sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $25.00, for a total value of $75,000.00. Following the completion of the sale, the director owned 6,200 shares in the company, valued at approximately $155,000. The trade was a 32.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Daphne Karydas also recently made the following trade(s):

• On Tuesday, March 31st, Daphne Karydas sold 3,000 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $25.00, for a total value of $75,000.00.

Mineralys Therapeutics Price Performance

Shares of Mineralys Therapeutics stock opened at $24.63 on Friday. The stock’s fifty day moving average is $27.51 and its two-hundred day moving average is $29.96. The company has a market capitalization of $2.03 billion, a PE ratio of -12.01 and a beta of 0.57. Mineralys Therapeutics, Inc. has a 52 week low of $12.59 and a 52 week high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last released its earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.04. As a group, research analysts anticipate that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current year.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of large investors have recently bought and sold shares of the business. Navalign LLC bought a new stake in Mineralys Therapeutics during the 4th quarter valued at $33,000. KBC Group NV bought a new position in shares of Mineralys Therapeutics in the 1st quarter worth $33,000. Smartleaf Asset Management LLC raised its position in shares of Mineralys Therapeutics by 198.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock worth $40,000 after acquiring an additional 676 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Mineralys Therapeutics by 262.3% during the 4th quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock worth $56,000 after purchasing an additional 1,107 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in Mineralys Therapeutics by 1,845.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock valued at $76,000 after purchasing an additional 1,993 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group reiterated a “hold” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. TD Cowen assumed coverage on Mineralys Therapeutics in a report on Monday, April 27th. They issued a “buy” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Tuesday, April 21st. HC Wainwright reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Finally, Wall Street Zen cut Mineralys Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

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. 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.