Mineralys Therapeutics (NASDAQ:MLYS) Insider Eric Warren Sells 7,438 Shares

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider Eric Warren sold 7,438 shares of the business’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $26.87, for a total transaction of $199,859.06. Following the completion of the transaction, the insider directly owned 38,400 shares in the company, valued at $1,031,808. This trade represents a 16.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Eric Warren also recently made the following trade(s):

• On Friday, June 26th, Eric Warren sold 104,124 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $25.90, for a total transaction of $2,696,811.60.

Mineralys Therapeutics Stock Performance

MLYS opened at $26.95 on Wednesday. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of -13.15 and a beta of 0.66. The company has a fifty day moving average of $27.08 and a 200 day moving average of $28.07. Mineralys Therapeutics, Inc. has a fifty-two week low of $12.59 and a fifty-two week high of $47.65.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on MLYS shares. Wall Street Zen cut shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Jefferies Financial Group restated a “hold” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. HC Wainwright reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Finally, TD Cowen started coverage on shares of Mineralys Therapeutics in a report on Monday, April 27th. They issued a “buy” rating for the company. Six investment 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.33.

Institutional Investors Weigh In On Mineralys Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its stake in Mineralys Therapeutics by 130.7% in the 4th quarter. SG Americas Securities LLC now owns 230,795 shares of the company’s stock worth $8,376,000 after purchasing an additional 130,758 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Mineralys Therapeutics by 234.4% in the fourth quarter. Jennison Associates LLC now owns 1,258,653 shares of the company’s stock worth $45,677,000 after buying an additional 882,307 shares during the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Mineralys Therapeutics during the fourth quarter worth $13,794,000. UBS Group AG lifted its stake in shares of Mineralys Therapeutics by 124.9% during the fourth quarter. UBS Group AG now owns 201,280 shares of the company’s stock worth $7,304,000 after buying an additional 111,776 shares during the period. Finally, Profund Advisors LLC grew its holdings in shares of Mineralys Therapeutics by 548.1% during the fourth quarter. Profund Advisors LLC now owns 47,024 shares of the company’s stock valued at $1,707,000 after buying an additional 39,768 shares during the last quarter. Institutional investors and hedge funds 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.