Mineralys Therapeutics (NASDAQ:MLYS) Insider David Malcom Rodman Sells 9,890 Shares

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 9,890 shares of Mineralys Therapeutics stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $23.81, for a total value of $235,480.90. Following the sale, the insider directly owned 57,095 shares in the company, valued at approximately $1,359,431.95. This trade represents a 14.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 value of $114,600.00.
• 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 value of $151,931.57.
• On Wednesday, June 10th, David Malcom Rodman sold 2,170 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $25.00, for a total value 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 value of $11,488.35.
• On Tuesday, May 12th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The stock was 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 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 stock was 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.

Mineralys Therapeutics Trading Up 4.8%

Mineralys Therapeutics stock opened at $25.13 on Thursday. Mineralys Therapeutics, Inc. has a 52 week low of $12.59 and a 52 week high of $47.65. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -12.26 and a beta of 0.57. The company’s 50-day moving average price is $27.64 and its two-hundred day moving average price is $30.13.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.04. Research analysts expect that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MLYS shares. HC Wainwright reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Wall Street Zen downgraded Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. TD Cowen started coverage on Mineralys Therapeutics in a report on Monday, April 27th. They issued a “buy” rating for the company. Bank of America lifted their target price on Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.33.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Hudson Bay Capital Management LP acquired a new position in shares of Mineralys Therapeutics in the 3rd quarter worth $2,873,000. SG Americas Securities LLC lifted its holdings in shares of Mineralys Therapeutics by 130.7% during the fourth quarter. SG Americas Securities LLC now owns 230,795 shares of the company’s stock valued at $8,376,000 after purchasing an additional 130,758 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Mineralys Therapeutics by 29.8% during the third quarter. Vanguard Group Inc. now owns 3,018,999 shares of the company’s stock valued at $114,480,000 after purchasing an additional 692,550 shares during the last quarter. Citigroup Inc. boosted its position in shares of Mineralys Therapeutics by 501.7% in the 3rd quarter. Citigroup Inc. now owns 163,168 shares of the company’s stock valued at $6,187,000 after purchasing an additional 136,050 shares during the period. Finally, Jennison Associates LLC boosted its position in shares of Mineralys Therapeutics by 234.4% in the 4th quarter. Jennison Associates LLC now owns 1,258,653 shares of the company’s stock valued at $45,677,000 after purchasing an additional 882,307 shares during the period. Institutional investors own 84.46% of the company’s stock.

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.