David Malcom Rodman Sells 6,348 Shares of Mineralys Therapeutics (NASDAQ:MLYS) Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 6,348 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $29.36, for a total transaction of $186,377.28. Following the transaction, the insider owned 69,792 shares of the company’s stock, valued at approximately $2,049,093.12. This trade represents a 8.34% decrease in their position. The transaction was disclosed in a 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 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $369,163.08.
• On Monday, March 9th, David Malcom Rodman sold 2,171 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $26.84, for a total transaction of $58,269.64.
• On Tuesday, February 17th, David Malcom Rodman sold 417 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $27.59, for a total transaction of $11,505.03.

Mineralys Therapeutics Trading Down 8.2%

Shares of MLYS traded down $2.40 during midday trading on Wednesday, hitting $26.86. The stock had a trading volume of 1,630,121 shares, compared to its average volume of 1,093,224. Mineralys Therapeutics, Inc. has a fifty-two week low of $12.59 and a fifty-two week high of $47.65. The business has a 50-day simple moving average of $27.12 and a two-hundred day simple moving average of $32.76. The firm has a market cap of $2.22 billion, a P/E ratio of -13.10 and a beta of 0.49.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MLYS. Jefferies Financial Group reissued a “hold” rating and issued a $30.00 price target on shares of Mineralys Therapeutics in a research report on Friday, March 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. Wall Street Zen lowered shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. HC Wainwright set a $56.00 price target on shares of Mineralys Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Finally, TD Cowen began coverage on shares of Mineralys Therapeutics in a research report on Monday, April 27th. They issued a “buy” rating for the company. Seven 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.14.

Hedge Funds Weigh In On Mineralys Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in shares of 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 acquiring an additional 1,881,976 shares during the last quarter. Farallon Capital Management LLC acquired a new stake in shares of Mineralys Therapeutics in the third quarter worth $63,442,000. Price T Rowe Associates Inc. MD grew its stake in shares of Mineralys Therapeutics by 6,097.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,325,120 shares of the company’s stock worth $48,089,000 after acquiring an additional 1,303,737 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Mineralys Therapeutics in the third quarter worth $45,708,000. Finally, Janus Henderson Group PLC grew its stake in shares of Mineralys Therapeutics by 6,012.8% in the fourth quarter. Janus Henderson Group PLC now owns 1,213,265 shares of the company’s stock worth $44,005,000 after acquiring an additional 1,193,417 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.