Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) CFO Sells $5,364,237.12 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CFO Adam Scott Levy sold 119,524 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $44.88, for a total value of $5,364,237.12. Following the sale, the chief financial officer owned 19,396 shares in the company, valued at $870,492.48. The trade was a 86.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Adam Scott Levy also recently made the following trade(s):

• On Monday, October 13th, Adam Scott Levy sold 10,758 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $42.01, for a total value of $451,943.58.

Mineralys Therapeutics Stock Down 7.8%

NASDAQ:MLYS opened at $40.85 on Friday. Mineralys Therapeutics, Inc. has a twelve month low of $8.24 and a twelve month high of $47.65. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of -13.85 and a beta of 0.40. The stock’s 50 day moving average price is $40.17 and its two-hundred day moving average price is $24.04.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MLYS. 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 report on Tuesday, November 11th. 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. Wall Street Zen upgraded Mineralys Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Wednesday, October 8th. Finally, Bank of America upped their price objective on Mineralys Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Five 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. Based on data from MarketBeat, Mineralys Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $46.67.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its holdings in shares of Mineralys Therapeutics by 198.2% during the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock worth $40,000 after acquiring an additional 676 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in 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 purchasing an additional 702 shares during the last quarter. AlphaQuest LLC boosted its stake in Mineralys Therapeutics by 4.6% in the 1st quarter. AlphaQuest LLC now owns 15,925 shares of the company’s stock valued at $253,000 after purchasing an additional 703 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Mineralys Therapeutics by 51.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock valued at $34,000 after purchasing an additional 850 shares during the period. Finally, SBI Securities Co. Ltd. grew its holdings in Mineralys Therapeutics by 297.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company’s stock valued at $25,000 after buying an additional 1,190 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

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.