Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Director Sells $85,740.00 in Stock

Key Points

• Director sale: Daphne Karydas sold 3,000 Mineralys Therapeutics shares for approximately $85,740 under a pre-arranged Rule 10b5-1 plan, reducing her direct ownership by 32.61% to 6,200 shares.
• Stock and financial performance: MLYS recently traded at $27.98, with a $2.47 billion market capitalization. The company reported a quarterly loss of $2.85 per share, significantly missing the $0.55 consensus estimate.
• Analyst outlook: Despite mixed ratings, including hold and sell calls, the stock has a consensus “Moderate Buy” rating and an average price target of $48.80; institutional investors own 84.46% of the shares.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) Director Daphne Karydas sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $28.58, for a total value of $85,740.00. Following the completion of the transaction, the director directly owned 6,200 shares in the company, valued at approximately $177,196. This represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mineralys Therapeutics Price Performance

Shares of NASDAQ:MLYS traded up $0.44 during mid-day trading on Thursday, reaching $27.98. The stock had a trading volume of 1,141,567 shares, compared to its average volume of 1,267,498. The business's 50 day moving average price is $27.15 and its 200 day moving average price is $27.12. Mineralys Therapeutics, Inc. has a 1 year low of $22.30 and a 1 year high of $47.65. The company has a market cap of $2.47 billion, a P/E ratio of -6.60 and a beta of 0.68. The company has a current ratio of 34.46, a quick ratio of 34.46 and a debt-to-equity ratio of 0.18.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($2.85) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.55) by ($2.30). Research analysts expect that Mineralys Therapeutics, Inc. will post -4.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of large investors have recently made changes to their positions in the company. Timothy G. Youngquist 2020 Irrevocable Trust bought a new stake in Mineralys Therapeutics in the second quarter worth about $2,721,000. TimesSquare Capital Management LLC purchased a new position in Mineralys Therapeutics during the 2nd quarter valued at $6,363,000. Bank of America Corp DE grew its position in Mineralys Therapeutics by 11.5% in the 1st quarter. Bank of America Corp DE now owns 1,100,372 shares of the company's stock valued at $29,809,000 after acquiring an additional 113,092 shares during the last quarter. Man Group plc purchased a new stake in Mineralys Therapeutics in the second quarter worth $1,609,000. Finally, Artia Global Partners LP increased its stake in Mineralys Therapeutics by 143.5% in the fourth quarter. Artia Global Partners LP now owns 137,800 shares of the company's stock worth $5,001,000 after purchasing an additional 81,200 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MLYS has been the subject of several research reports. Jefferies Financial Group reissued a "hold" rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Weiss Ratings restated a "sell (d-)" rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. Wall Street Zen downgraded shares of Mineralys Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Zacks Research upgraded Mineralys Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Friday, September 11th. Finally, HC Wainwright restated a "buy" rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Mineralys Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $48.80.

Mineralys Therapeutics Company Profile

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cardiovascular and kidney-related diseases. The company's research is centered on conditions associated with excess aldosterone activity, including uncontrolled and resistant hypertension.

Mineralys' lead investigational product is lorundrostat, also known as MLS-101, an oral, highly selective aldosterone synthase inhibitor. The company is evaluating lorundrostat in clinical studies as a potential treatment for patients whose blood pressure remains inadequately controlled despite existing therapy.

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