Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells $199,859.06 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider Eric Warren sold 7,438 shares of the stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $26.87, for a total transaction of $199,859.06. Following the transaction, the insider owned 38,400 shares in the company, valued at approximately $1,031,808. The trade was a 16.23% 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.

Eric Warren also recently made the following trade(s):

• On Friday, June 26th, Eric Warren sold 104,124 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $25.90, for a total transaction of $2,696,811.60.

Mineralys Therapeutics Trading Down 0.6%

NASDAQ MLYS opened at $26.19 on Friday. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -12.78 and a beta of 0.66. The company has a 50 day moving average of $26.96 and a 200-day moving average of $27.97. Mineralys Therapeutics, Inc. has a 1-year low of $12.59 and a 1-year high of $47.65.

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

Analyst Upgrades and Downgrades

MLYS has been the topic of a number of recent analyst reports. Jefferies Financial Group restated a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Wall Street Zen lowered shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. TD Cowen began coverage on shares of Mineralys Therapeutics in a research report on Monday, April 27th. They issued a “buy” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Six equities research 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’s stock. According to MarketBeat, Mineralys Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $49.33.

Institutional Trading of Mineralys Therapeutics

Several large investors have recently bought and sold shares of the business. AQR Capital Management LLC bought a new position in Mineralys Therapeutics in the first quarter valued at about $550,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Mineralys Therapeutics by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock worth $271,000 after acquiring an additional 702 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Mineralys Therapeutics by 166.6% in the first quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company’s stock worth $4,739,000 after acquiring an additional 186,480 shares during the last quarter. Woodline Partners LP acquired a new stake in shares of Mineralys Therapeutics in the 1st quarter valued at approximately $757,000. Finally, Creative Planning acquired a new stake in shares of Mineralys Therapeutics in the 2nd quarter valued at approximately $336,000. 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.