Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells 104,124 Shares

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider Eric Warren sold 104,124 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $25.90, for a total transaction of $2,696,811.60. Following the completion of the transaction, the insider directly owned 38,400 shares of the company’s stock, valued at $994,560. The trade was a 73.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mineralys Therapeutics Price Performance

NASDAQ:MLYS traded up $0.10 during trading hours on Tuesday, hitting $26.98. 2,030,353 shares of the company were exchanged, compared to its average volume of 1,415,698. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -13.16 and a beta of 0.56. Mineralys Therapeutics, Inc. has a 52-week low of $12.59 and a 52-week high of $47.65. The company’s 50 day moving average price is $27.26 and its 200-day moving average price is $29.37.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.04. On average, equities analysts predict that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a “hold” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Bank of America raised their price target on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, March 13th. TD Cowen began coverage on shares of Mineralys Therapeutics in a report on Monday, April 27th. They issued a “buy” rating for the company. Wall Street Zen downgraded shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Tuesday, April 21st. 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.33.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Navalign LLC acquired a new position in shares of Mineralys Therapeutics during the fourth quarter valued at approximately $33,000. KBC Group NV purchased a new stake in shares of Mineralys Therapeutics during the first quarter worth approximately $33,000. Royal Bank of Canada increased its position in shares of Mineralys Therapeutics by 262.3% during the fourth quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock worth $56,000 after purchasing an additional 1,107 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Mineralys Therapeutics by 1,845.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock valued at $76,000 after purchasing an additional 1,993 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Mineralys Therapeutics by 14,091.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock valued at $124,000 after purchasing an additional 3,241 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

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.