Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells 7,437 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider Eric Warren sold 7,437 shares of Mineralys Therapeutics stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $25.98, for a total value of $193,213.26. Following the transaction, the insider directly owned 38,400 shares in the company, valued at approximately $997,632. This trade represents a 16.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, July 21st, Eric Warren sold 7,438 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $26.87, for a total value of $199,859.06.
• On Friday, June 26th, Eric Warren sold 104,124 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $25.90, for a total transaction of $2,696,811.60.

Mineralys Therapeutics Stock Up 4.2%

Shares of MLYS stock traded up $1.07 during trading on Tuesday, hitting $26.34. 863,960 shares of the company were exchanged, compared to its average volume of 1,266,213. The business’s 50-day simple moving average is $26.77 and its 200 day simple moving average is $27.26. Mineralys Therapeutics, Inc. has a twelve month low of $14.53 and a twelve month high of $47.65. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -6.21 and a beta of 0.68. The company has a debt-to-equity ratio of 0.18, a quick ratio of 34.46 and a current ratio of 34.46.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($2.85) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($2.30). As a group, analysts forecast that Mineralys Therapeutics, Inc. will post -4.45 EPS for the current fiscal year.

Institutional Trading of Mineralys Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC acquired a new position in shares of Mineralys Therapeutics during the 1st quarter valued at about $550,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 worth $271,000 after purchasing an additional 702 shares during the period. Goldman Sachs Group Inc. boosted its position in Mineralys Therapeutics by 166.6% during the first quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company’s stock worth $4,739,000 after purchasing an additional 186,480 shares during the period. Woodline Partners LP acquired a new position in Mineralys Therapeutics during the first quarter valued at approximately $757,000. Finally, Creative Planning bought a new position in shares of Mineralys Therapeutics in the second quarter valued at approximately $336,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MLYS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Wall Street Zen lowered Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. TD Cowen started coverage on Mineralys Therapeutics in a research note on Monday, April 27th. They set a “buy” rating for the company. Zacks Research cut Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 13th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.33.

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.