Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells 6,349 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 6,349 shares of Mineralys Therapeutics stock in a transaction on Friday, June 12th. The shares were sold at an average price of $23.93, for a total value of $151,931.57. Following the transaction, the insider owned 63,443 shares in the company, valued at $1,518,190.99. This represents a 9.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, June 10th, David Malcom Rodman sold 2,170 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $25.00, for a total value of $54,250.00.
• On Monday, May 18th, David Malcom Rodman sold 417 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $27.55, for a total value of $11,488.35.
• On Tuesday, May 12th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $29.36, for a total value of $186,377.28.
• On Wednesday, May 13th, David Malcom Rodman sold 14,056 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $28.58, for a total value of $401,720.48.
• On Monday, May 11th, David Malcom Rodman sold 2,171 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $29.71, for a total value of $64,500.41.
• On Friday, April 17th, David Malcom Rodman sold 416 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $31.33, for a total value of $13,033.28.
• On Wednesday, April 15th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $27.66, for a total value of $175,585.68.
• On Monday, April 13th, David Malcom Rodman sold 14,058 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $26.54, for a total value of $373,099.32.
• On Thursday, April 9th, David Malcom Rodman sold 2,170 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $27.38, for a total value of $59,414.60.

Mineralys Therapeutics Stock Performance

Shares of MLYS stock traded down $0.32 on Friday, reaching $23.62. 1,798,008 shares of the company’s stock traded hands, compared to its average volume of 1,347,702. Mineralys Therapeutics, Inc. has a 12-month low of $12.59 and a 12-month high of $47.65. The company has a market capitalization of $1.95 billion, a P/E ratio of -11.52 and a beta of 0.57. The business’s 50 day moving average price is $27.88 and its two-hundred day moving average price is $30.66.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MLYS shares. Wall Street Zen lowered Mineralys Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. TD Cowen started coverage on Mineralys Therapeutics in a report on Monday, April 27th. They set a “buy” rating for the company. HC Wainwright reiterated a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. Finally, Bank of America increased their price objective on Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Six research 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’s stock. According to data from MarketBeat, Mineralys Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.33.

Hedge Funds Weigh In On Mineralys Therapeutics

Several hedge funds have recently bought and sold shares of MLYS. Navalign LLC acquired a new position in Mineralys Therapeutics during the fourth quarter worth $33,000. KBC Group NV acquired a new position in Mineralys Therapeutics during the first quarter worth $33,000. Smartleaf Asset Management LLC increased its position in Mineralys Therapeutics by 198.2% during the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock worth $40,000 after buying an additional 676 shares during the last quarter. Royal Bank of Canada increased its position in 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 buying an additional 1,107 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in Mineralys Therapeutics by 1,845.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock worth $76,000 after buying an additional 1,993 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.