David Malcom Rodman Sells 6,348 Shares of Mineralys Therapeutics (NASDAQ:MLYS) Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 6,348 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $27.37, for a total value of $173,744.76. Following the completion of the transaction, the insider directly owned 82,489 shares in the company, valued at approximately $2,257,723.93. The trade was a 7.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, March 13th, David Malcom Rodman sold 14,058 shares of Mineralys Therapeutics stock. The shares were 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 transaction 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 transaction of $11,505.03.
• On Thursday, February 12th, David Malcom Rodman sold 6,349 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $28.99, for a total transaction of $184,057.51.
• On Friday, February 13th, David Malcom Rodman sold 14,055 shares of Mineralys Therapeutics stock. The shares were 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 stock was sold at an average price of $30.21, for a total transaction of $65,585.91.
• On Tuesday, January 20th, David Malcom Rodman sold 416 shares of Mineralys Therapeutics stock. The stock was 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 stock was 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 shares were 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.

Mineralys Therapeutics Price Performance

NASDAQ:MLYS traded down $0.46 during mid-day trading on Monday, reaching $25.73. The stock had a trading volume of 958,405 shares, compared to its average volume of 1,195,092. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -10.86 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. The stock’s 50 day simple moving average is $30.45 and its two-hundred day simple moving average is $35.65.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.17. Sell-side analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Analysts Set New Price Targets

MLYS has been the topic of several research reports. Wall Street Zen raised Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday. Stifel Nicolaus lifted 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. HC Wainwright set a $56.00 target price on shares of Mineralys Therapeutics and gave the company a “buy” rating in a research note on Tuesday, March 10th. Bank of America increased their target price on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Mineralys Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $49.14.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of hedge funds have recently added to or reduced their stakes in MLYS. Smartleaf Asset Management LLC boosted its holdings in shares of 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Mineralys Therapeutics by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock worth $271,000 after acquiring an additional 702 shares during the last quarter. Navalign LLC acquired a new stake in shares of Mineralys Therapeutics in the 4th quarter worth about $33,000. Velan Capital Investment Management LP lifted its position in Mineralys Therapeutics by 0.6% in the 3rd quarter. Velan Capital Investment Management LP now owns 175,600 shares of the company’s stock valued at $6,659,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in Mineralys Therapeutics by 262.3% in the 4th quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock valued at $56,000 after purchasing an additional 1,107 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

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.