David Malcom Rodman Sells 11,367 Shares of Mineralys Therapeutics (NASDAQ:MLYS) Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 11,367 shares of Mineralys Therapeutics stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $32.61, for a total value of $370,677.87. Following the transaction, the insider owned 50,437 shares of the company’s stock, valued at approximately $1,644,750.57. This represents a 18.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• 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 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 shares were sold at an average price of $35.02, for a total value of $6,748,879.30.

Mineralys Therapeutics Price Performance

Shares of Mineralys Therapeutics stock traded down $2.04 on Thursday, hitting $31.38. The company’s stock had a trading volume of 1,037,351 shares, compared to its average volume of 1,380,931. Mineralys Therapeutics, Inc. has a 1 year low of $8.24 and a 1 year high of $47.65. The firm has a fifty day moving average price of $38.51 and a 200-day moving average price of $30.91.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.14. Sell-side analysts predict that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MLYS. Farallon Capital Management LLC purchased a new position in Mineralys Therapeutics during the third quarter worth approximately $63,442,000. Holocene Advisors LP purchased a new stake in Mineralys Therapeutics in the 3rd quarter valued at $45,708,000. RA Capital Management L.P. increased its stake in shares of Mineralys Therapeutics by 19.1% in the 3rd quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company’s stock worth $277,717,000 after acquiring an additional 1,176,470 shares during the last quarter. Polar Capital Holdings Plc purchased a new position in shares of Mineralys Therapeutics during the 3rd quarter worth $40,149,000. Finally, Alliancebernstein L.P. raised its holdings in shares of Mineralys Therapeutics by 3,160.1% during the 3rd quarter. Alliancebernstein L.P. now owns 882,415 shares of the company’s stock worth $33,461,000 after acquiring an additional 855,348 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.