Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Director Sells $3,005,459.20 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Director Brian Slingsby sold 104,320 shares of the company’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $28.81, for a total transaction of $3,005,459.20. Following the sale, the director directly owned 7,805,718 shares in the company, valued at approximately $224,882,735.58. The trade was a 1.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mineralys Therapeutics Price Performance

MLYS stock opened at $25.86 on Monday. Mineralys Therapeutics, Inc. has a 52 week low of $22.30 and a 52 week high of $47.65. The firm has a market capitalization of $2.29 billion, a P/E ratio of -6.10 and a beta of 0.68. The company has a fifty day simple moving average of $27.14 and a two-hundred day simple moving average of $27.09. The company has a quick ratio of 34.46, a current ratio of 34.46 and a debt-to-equity ratio of 0.18.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Wednesday, August 12th. The company reported ($2.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($2.30). Analysts anticipate that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mineralys Therapeutics

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Mineralys Therapeutics in the second quarter worth about $158,832,000. Orbimed Advisors LLC grew its position in shares of Mineralys Therapeutics by 109.4% in the 1st quarter. Orbimed Advisors LLC now owns 2,052,900 shares of the company’s stock worth $55,613,000 after buying an additional 1,072,500 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Mineralys Therapeutics during the second quarter worth $40,620,000. Polar Capital Holdings Plc increased its position in Mineralys Therapeutics by 32.3% during the 4th quarter. Polar Capital Holdings Plc now owns 1,401,141 shares of the company’s stock valued at $50,847,000 after buying an additional 342,365 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Mineralys Therapeutics by 0.6% during the first quarter. Jennison Associates LLC now owns 1,266,174 shares of the company’s stock valued at $34,301,000 after acquiring an additional 7,521 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MLYS. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. HC Wainwright restated a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Wall Street Zen lowered shares of Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Zacks Research upgraded shares of Mineralys Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, September 11th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $48.80.

Mineralys Therapeutics Company Profile

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cardiovascular and kidney-related diseases. The company’s research is centered on conditions associated with excess aldosterone activity, including uncontrolled and resistant hypertension.

Mineralys’ lead investigational product is lorundrostat, also known as MLS-101, an oral, highly selective aldosterone synthase inhibitor. The company is evaluating lorundrostat in clinical studies as a potential treatment for patients whose blood pressure remains inadequately controlled despite existing therapy.