Eric Warren Sells 104,124 Shares of Mineralys Therapeutics (NASDAQ:MLYS) Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider Eric Warren sold 104,124 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $25.90, for a total value of $2,696,811.60. Following the completion of the sale, the insider directly owned 38,400 shares of the company’s stock, valued at approximately $994,560. This represents a 73.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mineralys Therapeutics Price Performance

Mineralys Therapeutics stock traded up $0.10 during trading on Tuesday, reaching $26.98. 2,030,353 shares of the company were exchanged, compared to its average volume of 1,415,698. The stock’s 50 day simple moving average is $27.26 and its two-hundred day simple moving average is $29.37. The company has a market capitalization of $2.23 billion, a P/E ratio of -13.16 and a beta of 0.56. Mineralys Therapeutics, Inc. has a 52-week low of $12.59 and a 52-week high of $47.65.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group restated a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Wall Street Zen lowered shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. TD Cowen began coverage on shares of Mineralys Therapeutics in a research note on Monday, April 27th. They issued a “buy” rating for the company. HC Wainwright restated a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Finally, Bank of America lifted their price target on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Mineralys Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $49.33.

Institutional Trading of Mineralys Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Navalign LLC purchased a new stake in Mineralys Therapeutics in the 4th quarter valued at about $33,000. KBC Group NV purchased a new position in Mineralys Therapeutics during the first quarter worth about $33,000. Royal Bank of Canada boosted its stake in 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 buying an additional 1,107 shares during the period. Caitong International Asset Management Co. Ltd increased its position in shares of Mineralys Therapeutics by 1,845.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock valued at $76,000 after acquiring an additional 1,993 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Mineralys Therapeutics by 14,091.3% during the third quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock valued at $124,000 after acquiring an additional 3,241 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

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.