Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells $54,250.00 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 2,170 shares of Mineralys Therapeutics stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $25.00, for a total transaction of $54,250.00. Following the sale, the insider owned 63,443 shares of the company’s stock, valued at $1,586,075. The trade was a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Friday, June 12th, David Malcom Rodman sold 6,349 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $23.93, for a total transaction of $151,931.57.
• On Monday, May 18th, David Malcom Rodman sold 417 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $27.55, for a total transaction of $11,488.35.
• On Tuesday, May 12th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $29.36, for a total transaction of $186,377.28.
• On Wednesday, May 13th, David Malcom Rodman sold 14,056 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $28.58, for a total transaction of $401,720.48.
• On Monday, May 11th, David Malcom Rodman sold 2,171 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $29.71, for a total transaction of $64,500.41.
• On Friday, April 17th, David Malcom Rodman sold 416 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $31.33, for a total transaction of $13,033.28.
• On Wednesday, April 15th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $27.66, for a total transaction 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 transaction 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 transaction of $59,414.60.

Mineralys Therapeutics Stock Performance

NASDAQ:MLYS opened at $23.62 on Monday. Mineralys Therapeutics, Inc. has a 12 month low of $12.59 and a 12 month high of $47.65. The firm has a fifty day simple moving average of $27.83 and a 200-day simple moving average of $30.52. The company has a market capitalization of $1.95 billion, a P/E ratio of -11.52 and a beta of 0.56.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.04. Equities analysts forecast that Mineralys Therapeutics, Inc. will post -2.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Bank of America raised their target price on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. Wall Street Zen cut shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. TD Cowen began coverage on shares of Mineralys Therapeutics in a report on Monday, April 27th. They issued a “buy” rating for the company. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. 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 company’s stock. According to data from MarketBeat.com, Mineralys Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.33.

Institutional Trading of Mineralys Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Navalign LLC purchased a new stake in shares of Mineralys Therapeutics during the fourth quarter worth about $33,000. KBC Group NV purchased a new stake in shares of Mineralys Therapeutics during the first quarter worth about $33,000. Smartleaf Asset Management LLC increased its stake 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 purchasing an additional 676 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Mineralys Therapeutics by 262.3% during the fourth quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock worth $56,000 after purchasing an additional 1,107 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Mineralys Therapeutics by 1,845.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock worth $76,000 after purchasing an additional 1,993 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

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.