David Malcom Rodman Sells 6,349 Shares of Mineralys Therapeutics (NASDAQ:MLYS) Stock

Key Points

• Insider selling continued: Mineralys Therapeutics insider David Malcom Rodman sold 6,349 shares on June 12 at an average price of $23.93, worth about $151,932. The trade, made under a pre-arranged 10b5-1 plan, reduced his holdings by 9.1%.
• Multiple recent sales: Rodman has also sold shares several times in recent weeks, including larger transactions in May and June, indicating a steady pattern of insider selling rather than a one-off trade.
• Mixed stock and analyst backdrop: Shares traded at $23.62, below both the 50-day moving average of $27.88 and the 200-day average of $30.66. Analysts still have a consensus Moderate Buy rating with an average price target of $49.33, while institutions own 84.46% of the stock.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) insider David Malcom Rodman sold 6,349 shares of the company's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $23.93, for a total value of $151,931.57. Following the transaction, the insider directly owned 63,443 shares of the company's stock, valued at $1,518,190.99. This trade represents a 9.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, June 10th, David Malcom Rodman sold 2,170 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $25.00, for a total value of $54,250.00.
• On Monday, May 18th, David Malcom Rodman sold 417 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $27.55, for a total value of $11,488.35.
• On Tuesday, May 12th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $29.36, for a total value of $186,377.28.
• On Wednesday, May 13th, David Malcom Rodman sold 14,056 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $28.58, for a total value of $401,720.48.
• On Monday, May 11th, David Malcom Rodman sold 2,171 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $29.71, for a total value of $64,500.41.
• On Friday, April 17th, David Malcom Rodman sold 416 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $31.33, for a total value of $13,033.28.
• On Wednesday, April 15th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $27.66, for a total value of $175,585.68.
• On Monday, April 13th, David Malcom Rodman sold 14,058 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $26.54, for a total value of $373,099.32.
• On Thursday, April 9th, David Malcom Rodman sold 2,170 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $27.38, for a total value of $59,414.60.

Mineralys Therapeutics Price Performance

Shares of NASDAQ MLYS traded down $0.32 during midday trading on Friday, hitting $23.62. 1,798,008 shares of the company's stock were exchanged, compared to its average volume of 1,347,702. The stock's 50 day moving average price is $27.88 and its 200-day moving average price is $30.66. The firm has a market cap of $1.95 billion, a P/E ratio of -11.52 and a beta of 0.57. Mineralys Therapeutics, Inc. has a twelve month low of $12.59 and a twelve month high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share for the quarter, topping analysts' consensus estimates of ($0.51) by $0.04. On average, analysts expect that Mineralys Therapeutics, Inc. will post -2.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on MLYS. TD Cowen began coverage on Mineralys Therapeutics in a research report on Monday, April 27th. They issued a "buy" rating for the company. Wall Street Zen downgraded Mineralys Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. HC Wainwright restated a "buy" rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Jefferies Financial Group restated a "hold" rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. Six investment 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $49.33.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of MLYS. AQR Capital Management LLC acquired a new stake in shares of Mineralys Therapeutics during the first quarter worth $550,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Mineralys Therapeutics by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company's stock worth $271,000 after purchasing an additional 702 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Mineralys Therapeutics by 166.6% during the first quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company's stock worth $4,739,000 after purchasing an additional 186,480 shares during the period. Woodline Partners LP acquired a new stake in shares of Mineralys Therapeutics during the first quarter worth $757,000. Finally, Creative Planning acquired a new stake in shares of Mineralys Therapeutics during the second quarter worth $336,000. 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.

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