Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells 70,037 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 70,037 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $35.87, for a total value of $2,512,227.19. Following the sale, the insider owned 69,188 shares of the company’s stock, valued at $2,481,773.56. This represents a 50.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• 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 value of $6,748,879.30.
• On Wednesday, October 15th, David Malcom Rodman sold 10,369 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $43.01, for a total transaction of $445,970.69.

Mineralys Therapeutics Trading Up 0.1%

Shares of NASDAQ MLYS traded up $0.05 during trading hours on Tuesday, hitting $35.71. 1,085,999 shares of the company traded hands, compared to its average volume of 1,389,415. Mineralys Therapeutics, Inc. has a 12 month low of $8.24 and a 12 month high of $47.65. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -12.11 and a beta of 0.49. The company’s 50 day moving average price is $39.41 and its 200 day moving average price is $30.20.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results on Monday, November 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.14. Equities analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Stifel Nicolaus lifted their target price on Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. HC Wainwright lifted their price objective on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. The Goldman Sachs Group boosted their price objective on shares of Mineralys Therapeutics from $32.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company lifted their price target 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 given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $47.43.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in Mineralys Therapeutics by 51.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock valued at $34,000 after buying an additional 850 shares during the period. Smartleaf Asset Management LLC lifted its position in Mineralys Therapeutics by 198.2% during the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock valued at $40,000 after acquiring an additional 676 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in Mineralys Therapeutics by 42.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,995 shares of the company’s stock valued at $54,000 after buying an additional 1,197 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Mineralys Therapeutics during the second quarter worth about $91,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Mineralys Therapeutics by 14,091.3% during the third quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock valued at $124,000 after acquiring an additional 3,241 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

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.