Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells $184,057.51 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 6,349 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $28.99, for a total value of $184,057.51. Following the completion of the transaction, the insider owned 50,437 shares in the company, valued at approximately $1,462,168.63. This represents a 11.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, February 13th, David Malcom Rodman sold 14,055 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $27.44, for a total transaction of $385,669.20.
• On Monday, February 9th, David Malcom Rodman sold 2,171 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $30.21, for a total transaction of $65,585.91.
• On Tuesday, January 20th, David Malcom Rodman sold 416 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $32.10, for a total value of $13,353.60.
• 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 transaction 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 transaction of $252,469.75.
• 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 stock was sold at an average price of $35.87, for a total transaction of $2,512,227.19.
• On Monday, January 5th, David Malcom Rodman sold 192,715 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $35.02, for a total value of $6,748,879.30.

Mineralys Therapeutics Stock Performance

NASDAQ MLYS opened at $27.60 on Monday. Mineralys Therapeutics, Inc. has a 52 week low of $8.24 and a 52 week high of $47.65. The stock’s 50 day moving average price is $33.89 and its two-hundred day moving average price is $33.68. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -9.36 and a beta of 0.52.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of institutional investors have recently added to or reduced their stakes in MLYS. Smartleaf Asset Management LLC grew its stake in shares of Mineralys Therapeutics by 198.2% in the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock worth $40,000 after purchasing an additional 676 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Mineralys Therapeutics by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock worth $271,000 after buying an additional 702 shares in the last quarter. Navalign LLC acquired a new stake in Mineralys Therapeutics in the fourth quarter worth $33,000. Velan Capital Investment Management LP increased its position in Mineralys Therapeutics by 0.6% in the 3rd quarter. Velan Capital Investment Management LP now owns 175,600 shares of the company’s stock valued at $6,659,000 after buying an additional 1,000 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its position in shares of Mineralys Therapeutics by 42.8% during the second 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 period. 84.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

MLYS has been the subject of several analyst reports. HC Wainwright raised their target price on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Thursday, January 22nd. Wells Fargo & Company raised their target price on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Finally, Stifel Nicolaus upped their price objective 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 equities research 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.43.

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.