Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells 14,056 Shares of Stock

Key Points

• Mineralys Therapeutics insider David Malcom Rodman sold 14,056 shares on May 13 at an average price of $28.58, for proceeds of about $401,720. The sale was made under a pre-arranged Rule 10b5-1 plan, and Rodman’s stake fell by 18.14%.
• The insider has also made multiple recent sales of Mineralys stock throughout March and April, indicating a sustained pattern of selling rather than a one-time transaction.
• Shares of MLYS fell to $26.86 on Wednesday, while analysts still maintain a Moderate Buy consensus with an average target price of $49.14.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) insider David Malcom Rodman sold 14,056 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $28.58, for a total transaction of $401,720.48. Following the transaction, the insider owned 63,443 shares of the company's stock, valued at $1,813,200.94. This trade represents a 18.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 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 transaction of $186,377.28.
• 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $59,414.60.
• On Thursday, March 12th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $27.37, for a total transaction of $173,744.76.
• On Friday, March 13th, David Malcom Rodman sold 14,058 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $26.26, for a total transaction of $369,163.08.
• On Monday, March 9th, David Malcom Rodman sold 2,171 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $26.84, for a total transaction of $58,269.64.
• On Tuesday, February 17th, David Malcom Rodman sold 417 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $27.59, for a total transaction of $11,505.03.

Mineralys Therapeutics Price Performance

Shares of NASDAQ:MLYS traded down $2.40 during trading on Wednesday, hitting $26.86. 1,630,121 shares of the company were exchanged, compared to its average volume of 1,093,224. The stock has a market capitalization of $2.22 billion, a P/E ratio of -13.10 and a beta of 0.49. Mineralys Therapeutics, Inc. has a 12-month low of $12.59 and a 12-month high of $47.65. The firm's 50 day moving average price is $27.12 and its 200-day moving average price is $32.76.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.51) by $0.04. As a group, equities research analysts anticipate that Mineralys Therapeutics, Inc. will post -2.3 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. HC Wainwright set a $56.00 price target on shares of Mineralys Therapeutics and gave the company a "buy" rating in a research report on Tuesday, March 10th. Weiss Ratings restated a "sell (d-)" rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. Jefferies Financial Group restated a "hold" rating and set a $30.00 price objective on shares of Mineralys Therapeutics in a research report on Friday, March 13th. Wall Street Zen downgraded shares of Mineralys Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Bank of America upped their price objective on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a "buy" rating in a research report on Friday, March 13th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $49.14.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of large investors have recently added to or reduced their stakes in MLYS. State Street Corp grew its stake in Mineralys Therapeutics by 144.4% in the 4th quarter. State Street Corp now owns 3,184,999 shares of the company's stock valued at $115,584,000 after acquiring an additional 1,881,976 shares during the last quarter. Farallon Capital Management LLC acquired a new stake in Mineralys Therapeutics in the 3rd quarter valued at about $63,442,000. Price T Rowe Associates Inc. MD grew its stake in Mineralys Therapeutics by 6,097.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,325,120 shares of the company's stock valued at $48,089,000 after acquiring an additional 1,303,737 shares during the last quarter. Holocene Advisors LP acquired a new stake in Mineralys Therapeutics in the 3rd quarter valued at about $45,708,000. Finally, Janus Henderson Group PLC grew its stake in Mineralys Therapeutics by 6,012.8% in the 4th quarter. Janus Henderson Group PLC now owns 1,213,265 shares of the company's stock valued at $44,005,000 after acquiring an additional 1,193,417 shares during the last quarter. 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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