Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells 14,056 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 14,056 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $28.58, for a total transaction of $401,720.48. Following the completion of the transaction, the insider owned 63,443 shares in the company, valued at approximately $1,813,200.94. This trade represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 transaction of $186,377.28.
• 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 transaction of $64,500.41.
• On Friday, April 17th, David Malcom Rodman sold 416 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $31.33, for a total transaction of $13,033.28.
• On Wednesday, April 15th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $27.66, for a total transaction of $175,585.68.
• On Monday, April 13th, David Malcom Rodman sold 14,058 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $26.54, for a total transaction of $373,099.32.
• On Thursday, April 9th, David Malcom Rodman sold 2,170 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $27.38, for a total transaction of $59,414.60.
• On Thursday, March 12th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $27.37, for a total transaction of $173,744.76.
• On Friday, March 13th, David Malcom Rodman sold 14,058 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $26.26, for a total transaction of $369,163.08.
• On Monday, March 9th, David Malcom Rodman sold 2,171 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $26.84, for a total transaction of $58,269.64.
• On Tuesday, February 17th, David Malcom Rodman sold 417 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $27.59, for a total transaction of $11,505.03.

Mineralys Therapeutics Price Performance

NASDAQ:MLYS traded down $2.40 on Wednesday, reaching $26.86. The stock had a trading volume of 1,630,121 shares, compared to its average volume of 1,093,224. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -13.10 and a beta of 0.49. The firm’s fifty day moving average is $27.12 and its two-hundred day moving average is $32.76. Mineralys Therapeutics, Inc. has a 12-month low of $12.59 and a 12-month 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.04. As a group, research analysts forecast that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Navalign LLC purchased a new position in Mineralys Therapeutics in the fourth quarter valued at approximately $33,000. Smartleaf Asset Management LLC raised its holdings in Mineralys Therapeutics by 198.2% in the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock valued at $40,000 after buying an additional 676 shares during the period. KBC Group NV purchased a new position in Mineralys Therapeutics in the first quarter valued at approximately $33,000. Royal Bank of Canada raised its holdings in Mineralys Therapeutics by 262.3% in the fourth quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock valued at $56,000 after buying an additional 1,107 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Mineralys Therapeutics by 1,845.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock valued at $76,000 after buying an additional 1,993 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MLYS shares. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 price objective on shares of Mineralys Therapeutics in a report on Friday, March 13th. HC Wainwright set a $56.00 price objective on shares of Mineralys Therapeutics and gave the stock a “buy” rating in a report on Tuesday, March 10th. Wall Street Zen lowered shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. Finally, Bank of America increased their price objective on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Seven 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 stock. Based on data from MarketBeat, Mineralys Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $49.14.

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.