Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells $151,931.57 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 6,349 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $23.93, for a total value of $151,931.57. Following the completion of the transaction, the insider owned 63,443 shares in the company, valued at approximately $1,518,190.99. The trade was a 9.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, June 10th, David Malcom Rodman sold 2,170 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $25.00, for a total value of $54,250.00.
• On Monday, May 18th, David Malcom Rodman sold 417 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $27.55, for a total value of $11,488.35.
• On Tuesday, May 12th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $29.36, for a total value of $186,377.28.
• On Wednesday, May 13th, David Malcom Rodman sold 14,056 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $28.58, for a total value of $401,720.48.
• On Monday, May 11th, David Malcom Rodman sold 2,171 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $29.71, for a total value of $64,500.41.
• On Friday, April 17th, David Malcom Rodman sold 416 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $31.33, for a total value of $13,033.28.
• On Wednesday, April 15th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $27.66, for a total value of $175,585.68.
• On Monday, April 13th, David Malcom Rodman sold 14,058 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $26.54, for a total value of $373,099.32.
• On Thursday, April 9th, David Malcom Rodman sold 2,170 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $27.38, for a total value of $59,414.60.

Mineralys Therapeutics Stock Performance

Mineralys Therapeutics stock opened at $23.62 on Monday. Mineralys Therapeutics, Inc. has a twelve month low of $12.59 and a twelve month high of $47.65. The stock has a 50 day moving average of $27.83 and a two-hundred day moving average of $30.52. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -11.52 and a beta of 0.56.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.04. Equities analysts predict that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MLYS shares. HC Wainwright reissued a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. TD Cowen assumed coverage on Mineralys Therapeutics in a report on Monday, April 27th. They issued a “buy” rating for the company. Jefferies Financial Group reaffirmed a “hold” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. Finally, Wall Street Zen cut Mineralys Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.33.

Hedge Funds Weigh In On Mineralys Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of MLYS. State Street Corp raised its holdings in Mineralys Therapeutics by 144.4% during the fourth quarter. State Street Corp now owns 3,184,999 shares of the company’s stock worth $115,584,000 after purchasing an additional 1,881,976 shares during the last quarter. Farallon Capital Management LLC acquired a new position in Mineralys Therapeutics during the third quarter worth $63,442,000. Price T Rowe Associates Inc. MD raised its holdings in Mineralys Therapeutics by 6,097.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,325,120 shares of the company’s stock worth $48,089,000 after purchasing an additional 1,303,737 shares during the last quarter. Holocene Advisors LP acquired a new position in Mineralys Therapeutics during the third quarter worth $45,708,000. Finally, Janus Henderson Group PLC increased its position in Mineralys Therapeutics by 6,012.8% during the fourth quarter. Janus Henderson Group PLC now owns 1,213,265 shares of the company’s stock worth $44,005,000 after buying an additional 1,193,417 shares in the last quarter. 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.