Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells 11,367 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 11,367 shares of Mineralys Therapeutics stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $32.61, for a total transaction of $370,677.87. Following the transaction, the insider directly owned 50,437 shares in the company, valued at $1,644,750.57. This trade represents a 18.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

David Malcom Rodman also recently made the following trade(s):

• On Tuesday, January 13th, David Malcom Rodman sold 7,709 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $32.75, for a total transaction of $252,469.75.
• On Monday, January 12th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $32.32, for a total transaction of $205,167.36.
• On Friday, January 9th, David Malcom Rodman sold 2,170 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $33.27, for a total transaction of $72,195.90.
• On Friday, January 2nd, David Malcom Rodman sold 70,037 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $35.87, for a total value of $2,512,227.19.
• On Monday, January 5th, David Malcom Rodman sold 192,715 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $35.02, for a total value of $6,748,879.30.

Mineralys Therapeutics Price Performance

NASDAQ:MLYS traded down $2.04 on Thursday, reaching $31.38. The company’s stock had a trading volume of 1,037,351 shares, compared to its average volume of 1,380,931. Mineralys Therapeutics, Inc. has a 12-month low of $8.24 and a 12-month high of $47.65. The stock has a 50 day moving average price of $38.51 and a 200 day moving average price of $30.91.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.14. Equities analysts expect that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MLYS. HC Wainwright increased their price objective on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Wednesday, October 8th. Stifel Nicolaus lifted their price objective on Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Finally, Wells Fargo & Company boosted their price objective on Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.43.

Hedge Funds Weigh In On Mineralys Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Mineralys Therapeutics by 51.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock worth $34,000 after acquiring an additional 850 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Mineralys Therapeutics by 198.2% in the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock valued at $40,000 after purchasing an additional 676 shares during the period. Ameritas Investment Partners Inc. grew its stake in Mineralys Therapeutics by 42.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,995 shares of the company’s stock worth $54,000 after purchasing an additional 1,197 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Mineralys Therapeutics during the 2nd quarter worth $91,000. Finally, Russell Investments Group Ltd. increased its holdings in Mineralys Therapeutics by 14,091.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock worth $124,000 after purchasing an additional 3,241 shares during the period. Hedge funds and other institutional investors 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.