Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells $72,195.90 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 2,170 shares of the company’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $33.27, for a total value of $72,195.90. Following the sale, the insider owned 61,804 shares of the company’s stock, valued at approximately $2,056,219.08. The trade was a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 Tuesday, January 13th, David Malcom Rodman sold 7,709 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $32.75, for a total value of $252,469.75.
• On Monday, January 12th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $32.32, for a total value of $205,167.36.
• 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 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.
• 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 Stock Down 6.1%

Shares of MLYS stock opened at $31.38 on Friday. Mineralys Therapeutics, Inc. has a fifty-two week low of $8.24 and a fifty-two week high of $47.65. The firm’s 50 day moving average price is $38.51 and its two-hundred day moving average price is $30.91. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -10.64 and a beta of 0.49.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on MLYS. Stifel Nicolaus increased their target price on Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Finally, HC Wainwright boosted their target price on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Six investment 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. According to MarketBeat, Mineralys Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $47.43.

Hedge Funds Weigh In On Mineralys Therapeutics

Institutional investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its stake in shares of Mineralys Therapeutics by 198.2% during the 3rd 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 last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Mineralys Therapeutics by 51.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock valued at $34,000 after acquiring an additional 850 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Mineralys Therapeutics by 14,091.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock valued at $124,000 after acquiring an additional 3,241 shares during the last quarter. 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 worth $54,000 after purchasing an additional 1,197 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new stake in shares of Mineralys Therapeutics in the 3rd quarter worth about $216,000. 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.