Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells $58,269.64 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 2,171 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $26.84, for a total value of $58,269.64. Following the sale, the insider owned 82,489 shares of the company’s stock, valued at approximately $2,214,004.76. This represents a 2.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

David Malcom Rodman also recently made the following trade(s):

• On Tuesday, February 17th, David Malcom Rodman sold 417 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $27.59, for a total transaction of $11,505.03.
• On Thursday, February 12th, David Malcom Rodman sold 6,349 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $28.99, for a total value of $184,057.51.
• On Friday, February 13th, David Malcom Rodman sold 14,055 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $27.44, for a total transaction of $385,669.20.
• On Monday, February 9th, David Malcom Rodman sold 2,171 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $30.21, for a total value of $65,585.91.
• On Tuesday, January 20th, David Malcom Rodman sold 416 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $32.10, for a total transaction of $13,353.60.
• On Wednesday, January 14th, David Malcom Rodman sold 11,367 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $32.61, for a total transaction of $370,677.87.
• On Tuesday, January 13th, David Malcom Rodman sold 7,709 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $32.75, for a total transaction of $252,469.75.
• On Monday, January 12th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $32.32, for a total value of $205,167.36.
• On Friday, January 9th, David Malcom Rodman sold 2,170 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $33.27, for a total value of $72,195.90.
• On Friday, January 2nd, David Malcom Rodman sold 70,037 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $35.87, for a total transaction of $2,512,227.19.

Mineralys Therapeutics Price Performance

MLYS stock opened at $26.99 on Friday. The business’s 50-day moving average is $30.64 and its two-hundred day moving average is $35.29. The firm has a market capitalization of $2.14 billion, a P/E ratio of -9.15 and a beta of 0.57. Mineralys Therapeutics, Inc. has a 1 year low of $10.44 and a 1 year high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.17. On average, analysts expect that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in MLYS. Caitong International Asset Management Co. Ltd grew its stake in Mineralys Therapeutics by 3,439.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,823 shares of the company’s stock valued at $139,000 after purchasing an additional 3,715 shares during the last quarter. Seven Fleet Capital Management LP purchased a new position in shares of Mineralys Therapeutics during the fourth quarter valued at $553,000. XTX Topco Ltd increased its position in shares of Mineralys Therapeutics by 291.1% during the fourth quarter. XTX Topco Ltd now owns 73,678 shares of the company’s stock worth $2,674,000 after purchasing an additional 54,838 shares in the last quarter. Ikarian Capital LLC acquired a new position in Mineralys Therapeutics during the 4th quarter valued at about $7,258,000. Finally, Sphera Funds Management LTD. grew its stake in Mineralys Therapeutics by 104.2% in the fourth quarter. Sphera Funds Management LTD. now owns 449,003 shares of the company’s stock valued at $16,294,000 after acquiring an additional 229,093 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MLYS. HC Wainwright set a $56.00 price target on Mineralys Therapeutics and gave the company a “buy” rating in a report on Tuesday. Wall Street Zen downgraded Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Stifel Nicolaus boosted their price target 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, Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.43.

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.