Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells $235,480.90 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 9,890 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $23.81, for a total value of $235,480.90. Following the transaction, the insider directly owned 57,095 shares in the company, valued at approximately $1,359,431.95. This represents a 14.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 value of $114,600.00.
• On Friday, June 12th, David Malcom Rodman sold 6,349 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $23.93, for a total value of $151,931.57.
• On Wednesday, June 10th, David Malcom Rodman sold 2,170 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $25.00, for a total value of $54,250.00.
• 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 value 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 shares were 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.

Mineralys Therapeutics Stock Performance

Mineralys Therapeutics stock opened at $24.63 on Friday. Mineralys Therapeutics, Inc. has a 1 year low of $12.59 and a 1 year high of $47.65. The firm’s 50-day moving average is $27.51 and its 200-day moving average is $29.96. The company has a market cap of $2.03 billion, a P/E ratio of -12.01 and a beta of 0.57.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.04. As a group, sell-side analysts predict that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. HC Wainwright reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Bank of America raised their price target on Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Wall Street Zen downgraded Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. Finally, TD Cowen began coverage on Mineralys Therapeutics in a research report on Monday, April 27th. They issued a “buy” rating on the stock. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mineralys Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $49.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MLYS. State Street Corp raised 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 valued at $115,584,000 after buying an additional 1,881,976 shares during the last quarter. Farallon Capital Management LLC bought a new position in Mineralys Therapeutics in the 3rd quarter worth approximately $63,442,000. Price T Rowe Associates Inc. MD grew its holdings in Mineralys Therapeutics by 6,097.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,325,120 shares of the company’s stock worth $48,089,000 after buying an additional 1,303,737 shares in the last quarter. Holocene Advisors LP acquired a new stake in Mineralys Therapeutics in the 3rd quarter valued at approximately $45,708,000. Finally, Janus Henderson Group PLC increased its position in Mineralys Therapeutics by 6,012.8% in the 4th quarter. Janus Henderson Group PLC now owns 1,213,265 shares of the company’s stock valued at $44,005,000 after acquiring an additional 1,193,417 shares during the period. 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.