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 business’s 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 in the company, valued at approximately $994,560. The trade was a 73.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mineralys Therapeutics Stock Down 0.3%

MLYS opened at $26.89 on Thursday. Mineralys Therapeutics, Inc. has a 52 week low of $12.59 and a 52 week high of $47.65. The business has a fifty day simple moving average of $27.12 and a 200-day simple moving average of $29.24. The firm has a market cap of $2.22 billion, a P/E ratio of -13.12 and a beta of 0.66.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data 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. Sell-side analysts expect that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on MLYS. Bank of America raised their price objective on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, March 13th. 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 report 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 research note on Monday, June 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.33.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of large investors have recently modified their holdings of MLYS. Seven Fleet Capital Management LP raised its holdings in shares of Mineralys Therapeutics by 65.5% in the 1st quarter. Seven Fleet Capital Management LP now owns 69,571 shares of the company’s stock valued at $1,885,000 after purchasing an additional 27,546 shares in the last quarter. Bank of America Corp DE raised its stake in Mineralys Therapeutics by 11.5% in the first quarter. Bank of America Corp DE now owns 1,100,372 shares of the company’s stock valued at $29,809,000 after buying an additional 113,092 shares in the last quarter. Stempoint Capital LP lifted its holdings in Mineralys Therapeutics by 83.9% during the 1st quarter. Stempoint Capital LP now owns 533,378 shares of the company’s stock worth $14,449,000 after buying an additional 243,329 shares during the last quarter. ADAR1 Capital Management LLC lifted its holdings in Mineralys Therapeutics by 13.5% during the 1st quarter. ADAR1 Capital Management LLC now owns 154,686 shares of the company’s stock worth $4,190,000 after buying an additional 18,455 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Mineralys Therapeutics by 41.3% during the 1st quarter. California State Teachers Retirement System now owns 61,266 shares of the company’s stock worth $1,660,000 after acquiring an additional 17,918 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.