Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CFO Adam Scott Levy Sells 59,925 Shares

Key Points

• Adam Scott Levy, CFO of Mineralys Therapeutics, sold a total of 59,925 shares of the company's stock at an average price of $14.76, totaling approximately $884,493, which represented a 31.07% decrease in his ownership.
• Mineralys Therapeutics shares saw an increase of 4.4% to reach $14.49, with a market capitalization of $944.46 million and a reported P/E ratio of -3.88.
• Wall Street analysts have mixed ratings on Mineralys Therapeutics, with one analysis rating it as a "sell," while others have set target prices ranging from $15.00 to $48.00, maintaining an average target of $32.25.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) CFO Adam Scott Levy sold 59,925 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $14.76, for a total transaction of $884,493.00. Following the sale, the chief financial officer directly owned 132,934 shares of the company's stock, valued at approximately $1,962,105.84. This trade represents a 31.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Adam Scott Levy also recently made the following trade(s):

• On Tuesday, July 29th, Adam Scott Levy sold 807 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $14.00, for a total value of $11,298.00.
• On Monday, July 28th, Adam Scott Levy sold 12,946 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $14.04, for a total value of $181,761.84.
• On Friday, July 11th, Adam Scott Levy sold 10,758 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $14.45, for a total value of $155,453.10.

Mineralys Therapeutics Stock Performance

MLYS stock traded down $0.49 during mid-day trading on Friday, hitting $13.66. 1,107,843 shares of the company were exchanged, compared to its average volume of 637,447. Mineralys Therapeutics, Inc. has a 1-year low of $8.24 and a 1-year high of $18.38. The firm's 50 day simple moving average is $14.52 and its 200 day simple moving average is $13.30. The firm has a market cap of $890.36 million, a P/E ratio of -3.66 and a beta of -0.29.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.79) EPS for the quarter, topping analysts' consensus estimates of ($1.02) by $0.23. On average, equities research analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of large investors have recently bought and sold shares of the company. RA Capital Management L.P. grew its holdings in Mineralys Therapeutics by 26.7% during the first quarter. RA Capital Management L.P. now owns 6,147,280 shares of the company's stock worth $97,619,000 after purchasing an additional 1,296,296 shares during the period. SR One Capital Management LP lifted its position in shares of Mineralys Therapeutics by 55.1% in the first quarter. SR One Capital Management LP now owns 3,127,933 shares of the company's stock valued at $49,672,000 after buying an additional 1,111,111 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Mineralys Therapeutics by 42.1% during the 1st quarter. Vanguard Group Inc. now owns 2,035,506 shares of the company's stock worth $32,324,000 after acquiring an additional 603,464 shares during the period. Jennison Associates LLC increased its holdings in shares of Mineralys Therapeutics by 82.9% during the 1st quarter. Jennison Associates LLC now owns 1,979,033 shares of the company's stock worth $31,427,000 after acquiring an additional 897,027 shares during the last quarter. Finally, Millennium Management LLC raised its stake in Mineralys Therapeutics by 1,015.8% in the 4th quarter. Millennium Management LLC now owns 1,101,674 shares of the company's stock valued at $13,562,000 after acquiring an additional 1,002,941 shares during the period. Institutional investors and hedge funds own 84.46% of the company's stock.

Analysts Set New Price Targets

MLYS has been the topic of several recent analyst reports. Jefferies Financial Group began coverage on shares of Mineralys Therapeutics in a research note on Tuesday, June 10th. They set a "hold" rating and a $15.00 price objective on the stock. HC Wainwright reissued a "buy" rating and set a $42.00 price target on shares of Mineralys Therapeutics in a research report on Tuesday, June 17th. Wall Street Zen lowered shares of Mineralys Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Finally, Guggenheim set a $48.00 price objective on shares of Mineralys Therapeutics and gave the company a "buy" rating in a research report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $32.25.

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.