Mineralys Therapeutics (NASDAQ:MLYS) Director Sells $75,000.00 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Director Daphne Karydas sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $25.00, for a total value of $75,000.00. Following the transaction, the director owned 6,200 shares of the company’s stock, valued at $155,000. This represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Daphne Karydas also recently made the following trade(s):

• On Tuesday, March 31st, Daphne Karydas sold 3,000 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $25.00, for a total value of $75,000.00.

Mineralys Therapeutics Price Performance

Shares of NASDAQ MLYS traded up $1.14 during midday trading on Wednesday, reaching $25.13. 1,646,383 shares of the stock traded hands, compared to its average volume of 2,014,045. The stock has a market capitalization of $2.07 billion, a PE ratio of -12.26 and a beta of 0.57. Mineralys Therapeutics, Inc. has a one year low of $12.59 and a one year high of $47.65. The company’s 50 day moving average is $27.64 and its 200 day moving average is $30.13.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Wednesday, May 6th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.04. As a group, equities analysts forecast that Mineralys Therapeutics, Inc. will post -2.3 EPS for the current year.

Institutional Trading of Mineralys Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its position in shares of 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 purchasing an additional 676 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Mineralys Therapeutics by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock worth $271,000 after purchasing an additional 702 shares during the last quarter. Navalign LLC bought a new stake in shares of Mineralys Therapeutics during the fourth quarter worth $33,000. Velan Capital Investment Management LP lifted its position in shares of Mineralys Therapeutics by 0.6% during the third quarter. Velan Capital Investment Management LP now owns 175,600 shares of the company’s stock worth $6,659,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of 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 purchasing an additional 1,107 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MLYS has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. Wall Street Zen downgraded Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. HC Wainwright restated a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Bank of America raised their price target on Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock 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.