Brian Taylor Slingsby Sells 1,000,000 Shares of Mineralys Therapeutics (NASDAQ:MLYS) Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Director Brian Taylor Slingsby sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $43.35, for a total transaction of $43,350,000.00. Following the completion of the sale, the director directly owned 7,903,838 shares in the company, valued at approximately $342,631,377.30. The trade was a 11.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Mineralys Therapeutics Price Performance

Shares of NASDAQ MLYS remained flat at $41.87 during mid-day trading on Friday. The stock had a trading volume of 1,675,839 shares, compared to its average volume of 1,175,835. Mineralys Therapeutics, Inc. has a 52 week low of $8.24 and a 52 week high of $47.65. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of -14.19 and a beta of 0.40. The firm’s fifty day moving average is $40.70 and its two-hundred day moving average is $24.93.

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, beating the consensus estimate of ($0.66) by $0.14. As a group, research analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Institutional Trading of Mineralys Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in MLYS. Smartleaf Asset Management LLC lifted its stake in Mineralys Therapeutics by 198.2% in the 3rd 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Mineralys Therapeutics by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock valued at $271,000 after acquiring an additional 702 shares in the last quarter. AlphaQuest LLC raised its position in shares of Mineralys Therapeutics by 4.6% during the 1st quarter. AlphaQuest LLC now owns 15,925 shares of the company’s stock worth $253,000 after acquiring an additional 703 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Mineralys Therapeutics by 51.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock valued at $34,000 after acquiring an additional 850 shares in the last quarter. Finally, Velan Capital Investment Management LP increased its holdings in shares of Mineralys Therapeutics by 0.6% in the 3rd quarter. Velan Capital Investment Management LP now owns 175,600 shares of the company’s stock valued at $6,659,000 after acquiring an additional 1,000 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on MLYS. Jefferies Financial Group increased their price target on shares of Mineralys Therapeutics from $15.00 to $26.00 and gave the company a “hold” rating in a research report on Wednesday, September 3rd. Bank of America raised their price objective on Mineralys Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Wednesday, October 8th. HC Wainwright raised their target price on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Finally, The Goldman Sachs Group lifted their target price on shares of Mineralys Therapeutics from $32.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Mineralys Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $46.67.

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.