Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells $64,500.41 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 2,171 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $29.71, for a total value of $64,500.41. Following the completion of the transaction, the insider directly owned 69,792 shares in the company, valued at $2,073,520.32. The trade was a 3.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 Tuesday, May 12th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The stock was 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 stock was sold at an average price of $28.58, for a total value of $401,720.48.
• On Friday, April 17th, David Malcom Rodman sold 416 shares of Mineralys Therapeutics stock. The stock was 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 stock was 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 stock was 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 stock was sold at an average price of $27.38, for a total value of $59,414.60.
• On Thursday, March 12th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $27.37, for a total value of $173,744.76.
• On Friday, March 13th, David Malcom Rodman sold 14,058 shares of Mineralys Therapeutics stock. The stock was 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 shares were sold at an average price of $26.84, for a total value of $58,269.64.
• On Tuesday, February 17th, David Malcom Rodman sold 417 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $27.59, for a total value of $11,505.03.

Mineralys Therapeutics Trading Up 0.4%

Shares of MLYS opened at $27.38 on Friday. The business’s 50 day moving average is $27.07 and its 200 day moving average is $32.63. The company has a market capitalization of $2.26 billion, a PE ratio of -13.36 and a beta of 0.49. Mineralys Therapeutics, Inc. has a 12-month low of $12.59 and a 12-month high of $47.65.

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

Hedge Funds Weigh In On Mineralys Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Hudson Bay Capital Management LP purchased a new position in shares of Mineralys Therapeutics in the 3rd quarter worth approximately $2,873,000. SG Americas Securities LLC boosted its holdings in Mineralys Therapeutics by 130.7% during the 4th quarter. SG Americas Securities LLC now owns 230,795 shares of the company’s stock valued at $8,376,000 after acquiring an additional 130,758 shares during the period. Vanguard Group Inc. boosted its holdings in Mineralys Therapeutics by 29.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,018,999 shares of the company’s stock valued at $114,480,000 after acquiring an additional 692,550 shares during the period. Citigroup Inc. boosted its holdings in Mineralys Therapeutics by 501.7% during the 3rd quarter. Citigroup Inc. now owns 163,168 shares of the company’s stock valued at $6,187,000 after acquiring an additional 136,050 shares during the period. Finally, Farallon Capital Management LLC purchased a new position in Mineralys Therapeutics during the 3rd quarter valued at $63,442,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MLYS. Wall Street Zen downgraded Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. HC Wainwright set a $56.00 price objective on Mineralys Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $30.00 price objective on shares of Mineralys Therapeutics in a research note on Friday, March 13th. TD Cowen initiated coverage on Mineralys Therapeutics in a research note on Monday, April 27th. They issued a “buy” rating on the stock. Finally, Bank of America lifted their price objective on Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

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.