Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells 7,709 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 7,709 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $32.75, for a total value of $252,469.75. Following the sale, the insider directly owned 61,804 shares of the company’s stock, valued at $2,024,081. This trade represents a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 value of $370,677.87.
• On Monday, January 12th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $32.32, for a total transaction 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 transaction 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.
• On Monday, January 5th, David Malcom Rodman sold 192,715 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $35.02, for a total transaction of $6,748,879.30.

Mineralys Therapeutics Stock Performance

Shares of Mineralys Therapeutics stock traded down $2.04 during midday trading on Thursday, reaching $31.38. 1,037,351 shares of the company’s stock traded hands, compared to its average volume of 1,380,931. Mineralys Therapeutics, Inc. has a 52 week low of $8.24 and a 52 week high of $47.65. The company’s 50 day simple moving average is $38.51 and its 200 day simple moving average is $30.91. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -10.64 and a beta of 0.49.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Monday, November 10th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.14. As a group, equities research analysts predict that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Wednesday, October 8th. HC Wainwright lifted their price target on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Stifel Nicolaus upped their price objective on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Finally, Wells Fargo & Company raised their target price on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Mineralys Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $47.43.

Institutional Investors Weigh In On Mineralys Therapeutics

Several hedge funds have recently modified their holdings of MLYS. Simplify Asset Management Inc. acquired a new stake in Mineralys Therapeutics during the third quarter worth $8,294,000. Geode Capital Management LLC boosted its position in shares of Mineralys Therapeutics by 19.0% during the 2nd quarter. Geode Capital Management LLC now owns 954,560 shares of the company’s stock valued at $12,917,000 after acquiring an additional 152,560 shares in the last quarter. Voya Investment Management LLC acquired a new stake in shares of Mineralys Therapeutics during the 1st quarter valued at about $255,000. 22NW LP increased its stake in Mineralys Therapeutics by 21.4% in the second quarter. 22NW LP now owns 560,042 shares of the company’s stock valued at $7,577,000 after acquiring an additional 98,698 shares during the period. Finally, Strs Ohio acquired a new position in Mineralys Therapeutics in the first quarter worth about $359,000. 84.46% of the stock is owned by institutional investors.

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.