Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells 7,438 Shares

Key Points

• Insider sale: Eric Warren sold 7,438 Mineralys Therapeutics shares at an average price of $28.12, totaling $209,156.56. The transaction, conducted under a Rule 10b5-1 plan, reduced his holdings by 16.23% to 38,400 shares.
• Stock performance and results: MLYS recently traded at $29.40, with a 52-week range of $22.30 to $47.65. The company reported a quarterly loss of $2.85 per share, significantly below analysts’ expected loss of $0.55.
• Investor outlook: Institutional investors own 84.46% of the stock, while analysts collectively assign Mineralys a “Moderate Buy” rating with an average price target of $48.80, despite mixed individual ratings.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) insider Eric Warren sold 7,438 shares of Mineralys Therapeutics stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $28.12, for a total transaction of $209,156.56. Following the completion of the transaction, the insider owned 38,400 shares of the company's stock, valued at $1,079,808. This represents a 16.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Eric Warren also recently made the following trade(s):

• On Friday, August 21st, Eric Warren sold 7,437 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $25.98, for a total value of $193,213.26.
• On Tuesday, July 21st, Eric Warren sold 7,438 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $26.87, for a total value of $199,859.06.
• On Friday, June 26th, Eric Warren sold 104,124 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $25.90, for a total transaction of $2,696,811.60.

Mineralys Therapeutics Price Performance

Shares of MLYS stock traded up $1.09 during trading on Tuesday, hitting $29.40. The company had a trading volume of 849,422 shares, compared to its average volume of 1,275,981. The stock's 50-day moving average is $27.14 and its two-hundred day moving average is $27.10. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -6.93 and a beta of 0.68. The company has a quick ratio of 34.46, a current ratio of 34.46 and a debt-to-equity ratio of 0.18. Mineralys Therapeutics, Inc. has a 52 week low of $22.30 and a 52 week high of $47.65.

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

Institutional Inflows and Outflows

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Zacks Research upgraded Mineralys Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Friday, September 11th. Wall Street Zen cut Mineralys Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Jefferies Financial Group restated a "hold" rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. HC Wainwright reaffirmed a "buy" rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock 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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