Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Director Sells 3,000 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Director Daphne Karydas sold 3,000 shares of the stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $25.00, for a total transaction of $75,000.00. Following the completion of the sale, the director owned 6,200 shares in the company, valued at $155,000. This represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mineralys Therapeutics Stock Up 2.1%

Shares of MLYS traded up $0.56 during mid-day trading on Thursday, reaching $26.97. 1,645,140 shares of the company’s stock were exchanged, compared to its average volume of 1,258,201. Mineralys Therapeutics, Inc. has a 52-week low of $10.44 and a 52-week high of $47.65. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -11.38 and a beta of 0.57. The company has a 50-day simple moving average of $28.00 and a two-hundred day simple moving average of $35.05.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Thursday, March 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.17. As a group, equities research analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. State Street Corp boosted its holdings in shares of 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 purchased a new stake in shares of Mineralys Therapeutics in the third quarter valued at $63,442,000. Price T Rowe Associates Inc. MD increased its stake in Mineralys Therapeutics by 6,097.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,325,120 shares of the company’s stock valued at $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 in the third quarter valued at $45,708,000. Finally, Janus Henderson Group PLC lifted 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 during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

MLYS has been the topic of several recent research reports. Jefferies Financial Group restated a “hold” rating and issued a $30.00 price objective on shares of Mineralys Therapeutics in a research report on Friday, March 13th. Wall Street Zen upgraded Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. HC Wainwright set a $56.00 target price on shares of Mineralys Therapeutics and gave the company a “buy” rating in a research note on Tuesday, March 10th. Stifel Nicolaus upped their target price on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a report on Friday, December 19th. Finally, Bank of America raised their price target on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Mineralys Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $49.14.

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.