Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells $2,696,811.60 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider Eric Warren sold 104,124 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $25.90, for a total value of $2,696,811.60. Following the sale, the insider owned 38,400 shares in the company, valued at approximately $994,560. This represents a 73.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mineralys Therapeutics Stock Up 3.0%

Shares of NASDAQ MLYS opened at $27.69 on Friday. The business’s 50 day moving average price is $27.10 and its two-hundred day moving average price is $29.17. The company has a market cap of $2.28 billion, a PE ratio of -13.51 and a beta of 0.66. 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 for the quarter, beating the consensus estimate of ($0.51) by $0.04. As a group, research analysts anticipate that Mineralys Therapeutics, Inc. will post -2.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. Wall Street Zen cut Mineralys Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Jefferies Financial Group restated a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Bank of America lifted their target price on Mineralys Therapeutics from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Finally, HC Wainwright reissued a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.33.

Hedge Funds Weigh In On Mineralys Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC acquired a new stake in Mineralys Therapeutics in the first quarter worth $550,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Mineralys Therapeutics by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock valued at $271,000 after purchasing an additional 702 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Mineralys Therapeutics by 166.6% during the first quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company’s stock valued at $4,739,000 after purchasing an additional 186,480 shares during the period. Woodline Partners LP acquired a new position in shares of Mineralys Therapeutics during the first quarter valued at about $757,000. Finally, Creative Planning bought a new position in shares of Mineralys Therapeutics during the 2nd quarter worth about $336,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.