Mineralys Therapeutics (NASDAQ:MLYS) Director Brian Taylor Slingsby Sells 104,320 Shares of Company Stock

Key Points

• Director Brian Slingsby sold 104,320 Mineralys Therapeutics shares at an average price of $28.81, generating approximately $3.01 million. He retained 7.81 million shares worth about $224.9 million.
• Mineralys shares opened at $26.59 and were trading down 1.1%; the company has a $2.35 billion market capitalization and reported a quarterly loss of $2.85 per share, well below analysts’ expected $0.55 loss.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and a $48.80 target price. Institutional investors own 84.46% of the stock.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) Director Brian Slingsby sold 104,320 shares of the business's stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $28.81, for a total value of $3,005,459.20. Following the completion of the sale, the director directly owned 7,805,718 shares of the company's stock, valued at $224,882,735.58. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Mineralys Therapeutics Trading Down 1.1%

NASDAQ MLYS opened at $26.59 on Friday. Mineralys Therapeutics, Inc. has a one year low of $22.30 and a one year high of $47.65. The firm has a market cap of $2.35 billion, a PE ratio of -6.27 and a beta of 0.68. The firm's fifty day moving average is $27.16 and its two-hundred day moving average is $27.10. The company has a debt-to-equity ratio of 0.18, a quick ratio of 34.46 and a current ratio of 34.46.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its quarterly earnings results 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). Analysts expect that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MLYS. HC Wainwright reaffirmed a "buy" rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Weiss Ratings reissued a "sell (d-)" rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Wall Street Zen downgraded shares of Mineralys Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Zacks Research raised Mineralys Therapeutics from a "strong sell" rating to a "hold" rating in a report on Friday, September 11th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.80.

Hedge Funds Weigh In On Mineralys Therapeutics

Large investors have recently made changes to their positions in the stock. BlueCrest Capital Management Ltd purchased a new stake in Mineralys Therapeutics during the second quarter worth about $2,298,000. WINTON GROUP Ltd purchased a new position in Mineralys Therapeutics in the second quarter valued at about $912,000. Arizona State Retirement System lifted its position in shares of Mineralys Therapeutics by 22.4% during the 2nd quarter. Arizona State Retirement System now owns 15,357 shares of the company's stock valued at $414,000 after acquiring an additional 2,815 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Mineralys Therapeutics during the 2nd quarter worth approximately $333,000. Finally, Pale Fire Capital SE boosted its stake in shares of Mineralys Therapeutics by 68.0% during the 2nd quarter. Pale Fire Capital SE now owns 614,284 shares of the company's stock worth $16,573,000 after acquiring an additional 248,658 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

About Mineralys Therapeutics

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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