Adam Scott Levy Sells 10,758 Shares of Mineralys Therapeutics (NASDAQ:MLYS) Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CFO Adam Scott Levy sold 10,758 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $32.14, for a total value of $345,762.12. Following the completion of the transaction, the chief financial officer directly owned 8,638 shares of the company’s stock, valued at $277,625.32. This trade represents a 55.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, November 11th, Adam Scott Levy sold 119,524 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $44.88, for a total transaction of $5,364,237.12.

Mineralys Therapeutics Trading Up 1.5%

Shares of NASDAQ:MLYS opened at $33.42 on Thursday. The firm has a 50 day simple moving average of $38.62 and a 200-day simple moving average of $30.91. Mineralys Therapeutics, Inc. has a twelve month low of $8.24 and a twelve month high of $47.65. The company has a market capitalization of $2.64 billion, a PE ratio of -11.33 and a beta of 0.49.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.14. As a group, equities research analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MLYS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Wednesday, October 8th. Stifel Nicolaus lifted their target price on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a report on Friday, December 19th. Wells Fargo & Company upped their price target 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. Finally, HC Wainwright increased their price target on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.43.

Institutional Investors Weigh In On Mineralys Therapeutics

Several hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its position in Mineralys Therapeutics by 198.2% in 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. lifted its stake in shares of 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 worth $34,000 after acquiring an additional 850 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Mineralys Therapeutics by 14,091.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock worth $124,000 after acquiring an additional 3,241 shares during the period. Ameritas Investment Partners Inc. increased its stake 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 acquiring an additional 1,197 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in shares of Mineralys Therapeutics during the third 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.