Mineralys Therapeutics (NASDAQ:MLYS) Insider David Malcom Rodman Sells 11,365 Shares

Key Points

• Insider David Malcom Rodman sold 11,365 shares of Mineralys Therapeutics, Inc. at an average price of $12.93, decreasing his ownership by 10.90%.
• The company reported a quarterly earnings per share of ($0.66), exceeding analyst estimates of ($0.78) by $0.12.
• Institutional investors own 84.46% of Mineralys Therapeutics' stock, with RA Capital Management boosting their stake by 26.7% earlier this year.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) insider David Malcom Rodman sold 11,365 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $12.93, for a total transaction of $146,949.45. Following the completion of the transaction, the insider directly owned 92,891 shares of the company's stock, valued at $1,201,080.63. This trade represents a 10.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, July 14th, David Malcom Rodman sold 11,366 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $14.59, for a total transaction of $165,829.94.

Mineralys Therapeutics Stock Performance

NASDAQ MLYS traded down $0.61 on Tuesday, reaching $14.73. The company had a trading volume of 341,861 shares, compared to its average volume of 874,596. The firm has a market capitalization of $976.53 million, a price-to-earnings ratio of -4.13 and a beta of -0.29. Mineralys Therapeutics, Inc. has a 1-year low of $8.24 and a 1-year high of $18.38. The company's fifty day moving average is $14.03 and its 200-day moving average is $13.61.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.66) earnings per share for the quarter, topping analysts' consensus estimates of ($0.78) by $0.12. On average, research analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MLYS. Guggenheim set a $48.00 target price on shares of Mineralys Therapeutics and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Wall Street Zen lowered shares of Mineralys Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Jefferies Financial Group began coverage on shares of Mineralys Therapeutics in a research note on Tuesday, June 10th. They set a "hold" rating and a $15.00 price objective for the company. Finally, HC Wainwright restated a "buy" rating and set a $42.00 price objective on shares of Mineralys Therapeutics in a research note on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $32.25.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of MLYS. RA Capital Management L.P. raised its holdings in shares of Mineralys Therapeutics by 26.7% in the 1st quarter. RA Capital Management L.P. now owns 6,147,280 shares of the company's stock valued at $97,619,000 after purchasing an additional 1,296,296 shares during the period. SR One Capital Management LP raised its holdings in shares of Mineralys Therapeutics by 55.1% in the 1st quarter. SR One Capital Management LP now owns 3,127,933 shares of the company's stock valued at $49,672,000 after purchasing an additional 1,111,111 shares during the period. Millennium Management LLC raised its holdings in shares of Mineralys Therapeutics by 1,015.8% in the 4th quarter. Millennium Management LLC now owns 1,101,674 shares of the company's stock valued at $13,562,000 after purchasing an additional 1,002,941 shares during the period. Jennison Associates LLC raised its holdings in shares of Mineralys Therapeutics by 82.9% in the 1st quarter. Jennison Associates LLC now owns 1,979,033 shares of the company's stock valued at $31,427,000 after purchasing an additional 897,027 shares during the period. Finally, Orbimed Advisors LLC bought a new stake in shares of Mineralys Therapeutics in the 2nd quarter valued at about $10,288,000. 84.46% of the stock is owned by institutional investors.

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.