Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells $186,377.28 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 6,348 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $29.36, for a total value of $186,377.28. Following the completion of the transaction, the insider owned 69,792 shares in the company, valued at $2,049,093.12. This trade represents a 8.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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, May 13th, David Malcom Rodman sold 14,056 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $28.58, for a total value 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 value of $64,500.41.
• On Friday, April 17th, David Malcom Rodman sold 416 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $31.33, for a total value 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 value of $175,585.68.
• On Monday, April 13th, David Malcom Rodman sold 14,058 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $26.54, for a total value of $373,099.32.
• On Thursday, April 9th, David Malcom Rodman sold 2,170 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $27.38, for a total value of $59,414.60.
• On Thursday, March 12th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $27.37, for a total value of $173,744.76.
• On Friday, March 13th, David Malcom Rodman sold 14,058 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $26.26, for a total value of $369,163.08.
• On Monday, March 9th, David Malcom Rodman sold 2,171 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $26.84, for a total value of $58,269.64.
• On Tuesday, February 17th, David Malcom Rodman sold 417 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $27.59, for a total value of $11,505.03.

Mineralys Therapeutics Price Performance

Shares of NASDAQ:MLYS opened at $27.38 on Friday. Mineralys Therapeutics, Inc. has a fifty-two week low of $12.59 and a fifty-two week high of $47.65. The business has a 50-day moving average of $27.07 and a two-hundred day moving average of $32.63. The stock has a market capitalization of $2.26 billion, a P/E ratio of -13.36 and a beta of 0.49.

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

Hedge Funds Weigh In On Mineralys Therapeutics

Several large investors have recently made changes to their positions in the business. Orbimed Advisors LLC lifted its position in shares of Mineralys Therapeutics by 109.4% during the 1st quarter. Orbimed Advisors LLC now owns 2,052,900 shares of the company’s stock worth $55,613,000 after purchasing an additional 1,072,500 shares during the last quarter. Troluce Capital Advisors LLC acquired a new position in shares of Mineralys Therapeutics during the 1st quarter worth about $17,744,000. Affinity Asset Advisors LLC increased its stake in Mineralys Therapeutics by 2.7% during the first quarter. Affinity Asset Advisors LLC now owns 750,000 shares of the company’s stock valued at $20,318,000 after acquiring an additional 20,000 shares during the period. Renaissance Technologies LLC increased its stake in Mineralys Therapeutics by 18.8% during the first quarter. Renaissance Technologies LLC now owns 382,800 shares of the company’s stock valued at $10,370,000 after acquiring an additional 60,700 shares during the period. Finally, Pale Fire Capital SE increased its stake in Mineralys Therapeutics by 3,431.3% during the first quarter. Pale Fire Capital SE now owns 365,626 shares of the company’s stock valued at $9,905,000 after acquiring an additional 355,272 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. TD Cowen assumed coverage on Mineralys Therapeutics in a research report on Monday, April 27th. They issued a “buy” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $30.00 price target on shares of Mineralys Therapeutics in a research report on Friday, March 13th. Wall Street Zen cut Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, HC Wainwright set a $56.00 price objective on Mineralys Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Six 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. Based on data from MarketBeat, the company 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.