Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells 7,438 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider Eric Warren sold 7,438 shares of the firm’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $28.12, for a total value of $209,156.56. Following the completion of the sale, the insider directly owned 38,400 shares of the company’s stock, valued at $1,079,808. The trade was a 16.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, August 21st, Eric Warren sold 7,437 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $25.98, for a total transaction of $193,213.26.
• 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 transaction of $199,859.06.
• 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 Trading Up 3.9%

Shares of MLYS traded up $1.09 during trading hours on Tuesday, reaching $29.40. 849,422 shares of the company traded hands, compared to its average volume of 1,275,981. The company’s fifty day moving average price is $27.14 and its two-hundred day moving average price is $27.10. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of -6.93 and a beta of 0.68. 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, Inc. has a 12 month low of $22.30 and a 12 month high of $47.65.

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

Institutional Trading of Mineralys Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Mineralys Therapeutics in the second quarter worth about $158,832,000. Bank of America Corp DE purchased a new stake in shares of Mineralys Therapeutics during the second quarter valued at approximately $40,620,000. Orbimed Advisors LLC grew its holdings in shares of Mineralys Therapeutics by 109.4% during the first quarter. Orbimed Advisors LLC now owns 2,052,900 shares of the company’s stock valued at $55,613,000 after buying an additional 1,072,500 shares during the last quarter. Nantahala Capital Management LLC bought a new stake in shares of Mineralys Therapeutics during the second quarter valued at approximately $22,136,577. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new stake in shares of Mineralys Therapeutics during the fourth quarter valued at approximately $23,918,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

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

About Mineralys Therapeutics

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.