Adam Scott Levy Sells 807 Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Stock

Key Points

• Adam Scott Levy, CFO of Mineralys Therapeutics, sold a total of 807 shares at an average price of $14.00, reducing his total ownership to 192,859 shares valued at approximately $2.7 million.
• Mineralys Therapeutics’ stock showed a price increase reaching $14.49 on the most recent trading day, with a market cap of $944.46 million and a 52-week price range between $8.24 and $18.38.
• Recent analyst ratings include a downgrade to "sell" from Wall Street Zen and a "buy" rating from Guggenheim, indicating mixed sentiments about the company's performance.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) CFO Adam Scott Levy sold 807 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $14.00, for a total transaction of $11,298.00. Following the completion of the transaction, the chief financial officer directly owned 192,859 shares in the company, valued at approximately $2,700,026. This represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Wednesday, July 30th, Adam Scott Levy sold 59,925 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $14.76, for a total transaction of $884,493.00.
• 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 transaction of $181,761.84.
• On Friday, July 11th, Adam Scott Levy sold 10,758 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $14.45, for a total value of $155,453.10.

Mineralys Therapeutics Trading Down 3.5%

MLYS stock traded down $0.49 during midday trading on Friday, hitting $13.66. 1,107,843 shares of the company's stock 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 stock has a market capitalization of $890.36 million, a PE ratio of -3.66 and a beta of -0.29. The business has a 50-day simple moving average of $14.52 and a two-hundred day simple moving average of $13.30.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.79) earnings per share for the quarter, topping analysts' consensus estimates of ($1.02) by $0.23. As a group, research analysts expect that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. raised its stake in shares of Mineralys Therapeutics by 297.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company's stock valued at $25,000 after acquiring an additional 1,190 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Mineralys Therapeutics by 51.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company's stock worth $34,000 after purchasing an additional 850 shares during the period. BNP Paribas Financial Markets acquired a new stake in Mineralys Therapeutics in the 4th quarter valued at approximately $48,000. KLP Kapitalforvaltning AS acquired a new position in Mineralys Therapeutics during the second quarter worth $91,000. Finally, Quarry LP purchased a new position in shares of Mineralys Therapeutics during the first quarter worth $111,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MLYS. HC Wainwright reiterated a "buy" rating and set a $42.00 price objective on shares of Mineralys Therapeutics in a research report on Tuesday, June 17th. Guggenheim set a $48.00 price target on Mineralys Therapeutics and gave the stock a "buy" rating in a report on Wednesday, May 14th. Jefferies Financial Group assumed coverage on shares of Mineralys Therapeutics in a report on Tuesday, June 10th. They issued a "hold" rating and a $15.00 price objective for the company. Finally, Wall Street Zen cut shares of Mineralys Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Mineralys Therapeutics currently has an average rating of "Hold" and an average price target 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.