Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells $252,469.75 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 7,709 shares of the stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $32.75, for a total value of $252,469.75. Following the completion of the transaction, the insider directly owned 61,804 shares of the company’s stock, valued at approximately $2,024,081. The trade was a 11.09% decrease in their ownership of the stock. The sale 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 Wednesday, January 14th, David Malcom Rodman sold 11,367 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $32.61, for a total value of $370,677.87.
• On Monday, January 12th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $32.32, for a total value of $205,167.36.
• On Friday, January 9th, David Malcom Rodman sold 2,170 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $33.27, for a total value of $72,195.90.
• On Friday, January 2nd, David Malcom Rodman sold 70,037 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $35.87, for a total value of $2,512,227.19.
• On Monday, January 5th, David Malcom Rodman sold 192,715 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $35.02, for a total transaction of $6,748,879.30.

Mineralys Therapeutics Trading Down 6.1%

Shares of Mineralys Therapeutics stock traded down $2.04 during mid-day trading on Thursday, reaching $31.38. 1,037,351 shares of the stock were exchanged, compared to its average volume of 1,380,931. Mineralys Therapeutics, Inc. has a fifty-two week low of $8.24 and a fifty-two week high of $47.65. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -10.64 and a beta of 0.49. The firm has a 50-day simple moving average of $38.51 and a 200 day simple moving average of $30.91.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on MLYS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Wednesday, October 8th. HC Wainwright raised their target price on Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Wells Fargo & Company lifted their price target on Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. Finally, Stifel Nicolaus upped their price target on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.43.

Institutional Investors Weigh In On Mineralys Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its stake in shares of Mineralys Therapeutics by 198.2% during the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock valued at $40,000 after acquiring an additional 676 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Mineralys Therapeutics by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock worth $271,000 after purchasing an additional 702 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Mineralys Therapeutics by 51.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock worth $34,000 after buying an additional 850 shares during the period. 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 valued at $6,659,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in shares of Mineralys Therapeutics by 42.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,995 shares of the company’s stock valued at $54,000 after buying an additional 1,197 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

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.