Mineralys Therapeutics (NASDAQ:MLYS) Insider Eric Warren Sells 7,437 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider Eric Warren sold 7,437 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $25.98, for a total value of $193,213.26. Following the sale, the insider owned 38,400 shares in the company, valued at approximately $997,632. This trade represents a 16.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 Tuesday, July 21st, Eric Warren sold 7,438 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $26.87, for a total value of $199,859.06.
• On Friday, June 26th, Eric Warren sold 104,124 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $25.90, for a total transaction of $2,696,811.60.

Mineralys Therapeutics Stock Up 4.2%

NASDAQ:MLYS opened at $26.34 on Wednesday. The firm’s 50 day simple moving average is $26.82 and its 200 day simple moving average is $27.23. The company has a debt-to-equity ratio of 0.18, a current ratio of 34.46 and a quick ratio of 34.46. Mineralys Therapeutics, Inc. has a one year low of $14.53 and a one year high of $47.65. The company has a market cap of $2.33 billion, a PE ratio of -6.21 and a beta of 0.68.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($2.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($2.30). On average, research analysts anticipate that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current year.

Institutional Investors Weigh In On Mineralys Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. RA Capital Management L.P. boosted its holdings in shares of Mineralys Therapeutics by 19.1% during the 3rd quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company’s stock worth $277,717,000 after buying an additional 1,176,470 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Mineralys Therapeutics during the 2nd quarter valued at $158,832,000. Vanguard Group Inc. boosted its stake in Mineralys Therapeutics by 11.1% during the fourth quarter. Vanguard Group Inc. now owns 3,352,880 shares of the company’s stock worth $121,676,000 after acquiring an additional 333,881 shares in the last quarter. State Street Corp grew its holdings in Mineralys Therapeutics by 144.4% in the fourth quarter. State Street Corp now owns 3,184,999 shares of the company’s stock worth $115,584,000 after purchasing an additional 1,881,976 shares during the period. Finally, Caligan Partners LP raised its holdings in shares of Mineralys Therapeutics by 37.4% during the third quarter. Caligan Partners LP now owns 2,772,654 shares of the company’s stock valued at $105,139,000 after purchasing an additional 755,302 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on MLYS shares. Zacks Research downgraded Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a report on Thursday, August 13th. Wall Street Zen cut Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Jefferies Financial Group restated a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. HC Wainwright reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Mineralys Therapeutics presently has a consensus rating of “Hold” 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.