Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells $193,213.26 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider Eric Warren sold 7,437 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $25.98, for a total transaction of $193,213.26. Following the transaction, the insider owned 38,400 shares in the company, valued at $997,632. The trade was a 16.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Eric Warren also recently made the following trade(s):

• On Tuesday, July 21st, Eric Warren sold 7,438 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $26.87, for a total transaction of $199,859.06.
• On Friday, June 26th, Eric Warren sold 104,124 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $25.90, for a total transaction of $2,696,811.60.

Mineralys Therapeutics Price Performance

Shares of NASDAQ:MLYS opened at $26.01 on Friday. The company has a quick ratio of 34.46, a current ratio of 34.46 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.30 billion, a PE ratio of -6.13 and a beta of 0.68. The company’s fifty day moving average is $26.86 and its 200 day moving average is $27.18. Mineralys Therapeutics, Inc. has a 52 week low of $14.94 and a 52 week high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($2.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($2.30). Research analysts anticipate that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current year.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in MLYS. RA Capital Management L.P. lifted its stake in Mineralys Therapeutics by 19.1% in the third quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company’s stock worth $277,717,000 after acquiring an additional 1,176,470 shares during the period. BlackRock Inc. bought a new position in Mineralys Therapeutics in the 2nd quarter worth $158,832,000. Vanguard Group Inc. raised its holdings in Mineralys Therapeutics by 11.1% in the 4th quarter. Vanguard Group Inc. now owns 3,352,880 shares of the company’s stock worth $121,676,000 after purchasing an additional 333,881 shares in the last quarter. State Street Corp lifted its position in shares of Mineralys Therapeutics by 144.4% in the 4th 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 period. Finally, Caligan Partners LP boosted its stake in shares of Mineralys Therapeutics by 37.4% during the 3rd quarter. Caligan Partners LP now owns 2,772,654 shares of the company’s stock valued at $105,139,000 after purchasing an additional 755,302 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MLYS shares. Wall Street Zen lowered Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Zacks Research lowered shares of Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a report on Thursday, August 13th. Jefferies Financial Group reissued a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Finally, HC Wainwright restated a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $49.33.

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.