Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells $252,469.75 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 7,709 shares of the stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $32.75, for a total value of $252,469.75. Following the completion of the sale, the insider directly owned 61,804 shares of the company’s stock, valued at approximately $2,024,081. The trade was a 11.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Wednesday, January 14th, David Malcom Rodman sold 11,367 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $32.61, for a total transaction of $370,677.87.
• On Monday, January 12th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $32.32, for a total transaction 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 transaction 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 transaction of $6,748,879.30.

Mineralys Therapeutics Trading Up 4.3%

Shares of MLYS opened at $32.74 on Friday. The firm’s fifty day simple moving average is $38.40 and its two-hundred day simple moving average is $31.17. Mineralys Therapeutics, Inc. has a 12 month low of $8.24 and a 12 month high of $47.65. The stock has a market capitalization of $2.59 billion, a P/E ratio of -11.10 and a beta of 0.49.

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

Institutional Investors Weigh In On Mineralys Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in MLYS. Banque Pictet & Cie SA acquired a new stake in shares of Mineralys Therapeutics in the 4th quarter worth about $272,000. Tema Etfs LLC bought a new stake in Mineralys Therapeutics during the 4th quarter worth approximately $235,000. Hennion & Walsh Asset Management Inc. raised its stake in shares of Mineralys Therapeutics by 31.2% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 69,362 shares of the company’s stock worth $2,517,000 after purchasing an additional 16,514 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Mineralys Therapeutics by 130.7% in the fourth quarter. SG Americas Securities LLC now owns 230,795 shares of the company’s stock worth $8,376,000 after purchasing an additional 130,758 shares during the last quarter. Finally, Hudson Bay Capital Management LP bought a new position in shares of Mineralys Therapeutics in the third quarter valued at approximately $2,873,000. 84.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MLYS has been the topic of a number of research reports. HC Wainwright boosted their target price on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Wednesday, October 8th. Stifel Nicolaus increased 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. Finally, Wells Fargo & Company boosted their target price on Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $47.43.

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. 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.