Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells $370,677.87 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 11,367 shares of Mineralys Therapeutics stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $32.61, for a total value of $370,677.87. Following the transaction, the insider directly owned 50,437 shares of the company’s stock, valued at $1,644,750.57. This trade represents a 18.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, January 13th, David Malcom Rodman sold 7,709 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $32.75, for a total transaction of $252,469.75.
• On Monday, January 12th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The shares were 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 shares were 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 shares were 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 stock was sold at an average price of $35.02, for a total transaction of $6,748,879.30.

Mineralys Therapeutics Stock Performance

MLYS stock opened at $32.74 on Friday. The stock’s 50 day moving average price is $38.40 and its 200 day moving average price is $31.17. The firm has a market cap of $2.59 billion, a P/E ratio of -11.10 and a beta of 0.49. Mineralys Therapeutics, Inc. has a 1 year low of $8.24 and a 1 year high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.14. On average, research analysts predict that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Institutional Investors Weigh In On Mineralys Therapeutics

Several hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in Mineralys Therapeutics by 51.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock worth $34,000 after purchasing an additional 850 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Mineralys Therapeutics by 198.2% during 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 period. Ameritas Investment Partners Inc. increased its holdings in shares of Mineralys Therapeutics by 42.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,995 shares of the company’s stock worth $54,000 after buying an additional 1,197 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Mineralys Therapeutics during the 2nd quarter worth $91,000. Finally, Russell Investments Group Ltd. boosted its holdings in Mineralys Therapeutics by 14,091.3% in the third quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock valued at $124,000 after acquiring an additional 3,241 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Wednesday, October 8th. HC Wainwright upped their price objective on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Finally, Stifel Nicolaus lifted their target price on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Mineralys Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $47.43.

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.