Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells $65,781.30 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 2,171 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $30.30, for a total transaction of $65,781.30. Following the completion of the sale, the insider owned 57,733 shares of the company’s stock, valued at approximately $1,749,309.90. The trade was a 3.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

David Malcom Rodman also recently made the following trade(s):

• On Wednesday, June 17th, David Malcom Rodman sold 4,584 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $25.00, for a total transaction of $114,600.00.
• On Monday, June 15th, David Malcom Rodman sold 9,890 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $23.81, for a total transaction of $235,480.90.
• On Friday, June 12th, David Malcom Rodman sold 6,349 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $23.93, for a total transaction of $151,931.57.
• On Wednesday, June 10th, David Malcom Rodman sold 2,170 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $25.00, for a total transaction of $54,250.00.
• On Monday, May 18th, David Malcom Rodman sold 417 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $27.55, for a total transaction of $11,488.35.
• On Tuesday, May 12th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $29.36, for a total value of $186,377.28.
• On Wednesday, May 13th, David Malcom Rodman sold 14,056 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $28.58, for a total value of $401,720.48.
• On Monday, May 11th, David Malcom Rodman sold 2,171 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $29.71, for a total value of $64,500.41.
• On Friday, April 17th, David Malcom Rodman sold 416 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $31.33, for a total value of $13,033.28.
• On Wednesday, April 15th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $27.66, for a total value of $175,585.68.

Mineralys Therapeutics Price Performance

Shares of MLYS stock opened at $28.38 on Monday. The stock’s fifty day simple moving average is $27.33 and its 200 day simple moving average is $28.85. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of -13.84 and a beta of 0.66. Mineralys Therapeutics, Inc. has a one year low of $12.59 and a one year high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.04. On average, research analysts anticipate that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current year.

Institutional Investors Weigh In On Mineralys Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Navalign LLC bought a new stake in shares of Mineralys Therapeutics during the fourth quarter valued at approximately $33,000. KBC Group NV bought a new position in shares of Mineralys Therapeutics in the 1st quarter worth $33,000. Royal Bank of Canada grew its position 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 buying an additional 1,107 shares during the period. FNY Investment Advisers LLC boosted its stake in Mineralys Therapeutics by 400.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company’s stock worth $67,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Mineralys Therapeutics by 1,845.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock worth $76,000 after acquiring an additional 1,993 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

MLYS has been the subject of several analyst reports. Wall Street Zen downgraded shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Tuesday, April 21st. TD Cowen assumed coverage on shares of Mineralys Therapeutics in a report on Monday, April 27th. They set a “buy” rating for the company. Jefferies Financial Group reiterated a “hold” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Finally, HC Wainwright reissued a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Six research 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.33.

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.