Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells 2,171 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 2,171 shares of the firm’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $30.30, for a total value of $65,781.30. Following the sale, the insider directly owned 57,733 shares of the company’s stock, valued at $1,749,309.90. The trade was a 3.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 17th, David Malcom Rodman sold 4,584 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $25.00, for a total transaction of $114,600.00.
• On Monday, June 15th, David Malcom Rodman sold 9,890 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $23.81, for a total transaction of $235,480.90.
• 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 Wednesday, June 10th, David Malcom Rodman sold 2,170 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $25.00, for a total transaction 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 transaction 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 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 shares were sold at an average price of $27.66, for a total transaction of $175,585.68.

Mineralys Therapeutics Stock Down 2.0%

Mineralys Therapeutics stock traded down $0.58 during trading on Friday, hitting $28.38. The company had a trading volume of 727,682 shares, compared to its average volume of 1,613,234. Mineralys Therapeutics, Inc. has a 1-year low of $12.59 and a 1-year high of $47.65. The company’s 50 day simple moving average is $27.33 and its 200-day simple moving average is $28.91.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP purchased a new position in Mineralys Therapeutics in the third quarter valued at approximately $2,873,000. SG Americas Securities LLC raised its holdings in Mineralys Therapeutics by 130.7% during the fourth quarter. SG Americas Securities LLC now owns 230,795 shares of the company’s stock worth $8,376,000 after purchasing an additional 130,758 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Mineralys Therapeutics by 234.4% during the 4th quarter. Jennison Associates LLC now owns 1,258,653 shares of the company’s stock worth $45,677,000 after buying an additional 882,307 shares during the last quarter. Farallon Capital Management LLC purchased a new stake in shares of Mineralys Therapeutics during the 3rd quarter worth approximately $63,442,000. Finally, Holocene Advisors LP acquired a new position in shares of Mineralys Therapeutics in the 3rd quarter valued at $45,708,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MLYS shares. Wall Street Zen lowered Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. TD Cowen started coverage on Mineralys Therapeutics in a research report on Monday, April 27th. They issued a “buy” rating for the company. Bank of America boosted 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. Jefferies Financial Group reiterated a “hold” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Finally, HC Wainwright reissued 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 one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Mineralys Therapeutics currently has an average rating of “Moderate Buy” 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.