Eric Warren Sells 7,438 Shares of Mineralys Therapeutics (NASDAQ:MLYS) Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider Eric Warren sold 7,438 shares of the company’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $26.87, for a total transaction of $199,859.06. Following the transaction, the insider owned 38,400 shares in the company, valued at $1,031,808. The trade was a 16.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Eric Warren also recently made the following trade(s):

• On Friday, June 26th, Eric Warren sold 104,124 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $25.90, for a total transaction of $2,696,811.60.

Mineralys Therapeutics Stock Down 2.3%

Shares of MLYS traded down $0.62 on Tuesday, reaching $26.59. The stock had a trading volume of 130,715 shares, compared to its average volume of 1,333,679. The firm has a market capitalization of $2.19 billion, a PE ratio of -12.95 and a beta of 0.66. The firm has a 50-day moving average of $27.07 and a 200 day moving average of $28.13. Mineralys Therapeutics, Inc. has a twelve month low of $12.59 and a twelve month high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last issued 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, sell-side analysts anticipate that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mineralys Therapeutics

Institutional investors have recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Mineralys Therapeutics by 144.4% during the 4th quarter. State Street Corp now owns 3,184,999 shares of the company’s stock valued at $115,584,000 after acquiring an additional 1,881,976 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Mineralys Therapeutics by 6,097.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,325,120 shares of the company’s stock worth $48,089,000 after purchasing an additional 1,303,737 shares during the period. Janus Henderson Group PLC lifted its position in shares of Mineralys Therapeutics by 6,012.8% in the 4th quarter. Janus Henderson Group PLC now owns 1,213,265 shares of the company’s stock worth $44,005,000 after acquiring an additional 1,193,417 shares during the period. RA Capital Management L.P. boosted its stake in Mineralys Therapeutics by 19.1% during the third quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company’s stock worth $277,717,000 after buying an additional 1,176,470 shares in the last quarter. Finally, Orbimed Advisors LLC increased its stake in Mineralys Therapeutics by 109.4% in the first quarter. Orbimed Advisors LLC now owns 2,052,900 shares of the company’s stock valued at $55,613,000 after acquiring an additional 1,072,500 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on MLYS shares. TD Cowen began coverage on shares of Mineralys Therapeutics in a report on Monday, April 27th. They issued a “buy” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Wall Street Zen lowered Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Jefferies Financial Group restated 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 issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.