David Malcom Rodman Sells 192,715 Shares of Mineralys Therapeutics (NASDAQ:MLYS) Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 192,715 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $35.02, for a total transaction of $6,748,879.30. Following the transaction, the insider directly owned 61,804 shares of the company’s stock, valued at $2,164,376.08. The trade was a 75.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Friday, January 2nd, David Malcom Rodman sold 70,037 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $35.87, for a total transaction of $2,512,227.19.
• On Wednesday, October 15th, David Malcom Rodman sold 10,369 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $43.01, for a total transaction of $445,970.69.

Mineralys Therapeutics Trading Up 0.1%

Shares of Mineralys Therapeutics stock traded up $0.05 during trading on Tuesday, reaching $35.71. 1,085,999 shares of the stock traded hands, compared to its average volume of 1,389,415. Mineralys Therapeutics, Inc. has a 52-week low of $8.24 and a 52-week high of $47.65. The business has a fifty day simple moving average of $39.41 and a two-hundred day simple moving average of $30.20.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.14. Equities research analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Mineralys Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP bought a new stake in Mineralys Therapeutics in the third quarter worth about $2,873,000. Armistice Capital LLC boosted its holdings in Mineralys Therapeutics by 185.2% during the 3rd quarter. Armistice Capital LLC now owns 507,650 shares of the company’s stock valued at $19,250,000 after acquiring an additional 329,650 shares during the period. XTX Topco Ltd bought a new position in Mineralys Therapeutics in the 3rd quarter valued at $714,000. Velan Capital Investment Management LP increased its stake in Mineralys Therapeutics by 0.6% in the third quarter. Velan Capital Investment Management LP now owns 175,600 shares of the company’s stock worth $6,659,000 after purchasing an additional 1,000 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in Mineralys Therapeutics in the third quarter worth $700,000. 84.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MLYS shares. HC Wainwright upped their price target on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Stifel Nicolaus boosted their target price on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Wells Fargo & Company increased their price target on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group upped their price objective on Mineralys Therapeutics from $32.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $47.43.

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.