Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells $2,512,227.19 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 70,037 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $35.87, for a total transaction of $2,512,227.19. Following the completion of the sale, the insider directly owned 69,188 shares of the company’s stock, valued at $2,481,773.56. The trade was a 50.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, January 5th, David Malcom Rodman sold 192,715 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $35.02, for a total transaction of $6,748,879.30.
• On Wednesday, October 15th, David Malcom Rodman sold 10,369 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $43.01, for a total transaction of $445,970.69.

Mineralys Therapeutics Trading Down 6.3%

Shares of Mineralys Therapeutics stock opened at $33.13 on Friday. The stock’s fifty day simple moving average is $39.15 and its 200 day simple moving average is $30.26. The company has a market capitalization of $2.62 billion, a PE ratio of -11.23 and a beta of 0.49. Mineralys Therapeutics, Inc. has a 12 month low of $8.24 and a 12 month high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.14. Analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its position in Mineralys Therapeutics by 198.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock worth $40,000 after buying an additional 676 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position 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 valued at $34,000 after acquiring an additional 850 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Mineralys Therapeutics by 14,091.3% during the third quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock worth $124,000 after acquiring an additional 3,241 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in Mineralys Therapeutics by 42.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,995 shares of the company’s stock valued at $54,000 after purchasing an additional 1,197 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new position in Mineralys Therapeutics in the third quarter valued at approximately $216,000. Institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Company Profile

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.