Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells 2,170 Shares of Stock

Key Points

• Insider selling continued at Mineralys Therapeutics: Director David Malcom Rodman sold 2,170 shares at $25.00 each, and the trade was made under a pre-arranged Rule 10b5-1 plan. He also made several other sales recently, reducing his stake by 3.31% in this transaction.
• MLYS shares were under pressure: The stock traded at $23.62, below both its 50-day moving average of $27.88 and 200-day moving average of $30.66. The company’s shares have ranged from a 52-week low of $12.59 to a high of $47.65.
• Analysts remain mixed but lean positive: The stock has a consensus rating of Moderate Buy with an average target price of $49.33, though individual ratings vary from buy to sell. Mineralys recently reported a smaller-than-expected quarterly loss of $0.47 per share.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) insider David Malcom Rodman sold 2,170 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $25.00, for a total transaction of $54,250.00. Following the completion of the sale, the insider owned 63,443 shares of the company's stock, valued at approximately $1,586,075. This represents a 3.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, June 12th, David Malcom Rodman sold 6,349 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $23.93, for a total transaction of $151,931.57.
• On Monday, May 18th, David Malcom Rodman sold 417 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $27.55, for a total transaction of $11,488.35.
• On Tuesday, May 12th, David Malcom Rodman sold 6,348 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $29.36, for a total transaction of $186,377.28.
• On Wednesday, May 13th, David Malcom Rodman sold 14,056 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $28.58, for a total transaction of $401,720.48.
• 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.

Mineralys Therapeutics Price Performance

Mineralys Therapeutics stock traded down $0.32 during midday trading on Friday, hitting $23.62. The company's stock had a trading volume of 1,798,008 shares, compared to its average volume of 1,347,702. Mineralys Therapeutics, Inc. has a 1-year low of $12.59 and a 1-year high of $47.65. The company has a 50-day moving average price of $27.88 and a two-hundred day moving average price of $30.66. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -11.52 and a beta of 0.57.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.04. Sell-side analysts forecast that Mineralys Therapeutics, Inc. will post -2.3 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MLYS. Jefferies Financial Group reiterated a "hold" rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. TD Cowen began coverage on shares of Mineralys Therapeutics in a research note on Monday, April 27th. They issued a "buy" rating for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Mineralys Therapeutics in a research note on Tuesday, April 21st. Bank of America raised their target price on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the company a "buy" rating in a report on Friday, March 13th. Finally, Wall Street Zen lowered shares of Mineralys Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $49.33.

Hedge Funds Weigh In On Mineralys Therapeutics

Hedge funds have recently bought and sold shares of the company. Navalign LLC bought a new position in Mineralys Therapeutics in the 4th quarter valued at about $33,000. Smartleaf Asset Management LLC increased its holdings in Mineralys Therapeutics by 198.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company's stock valued at $40,000 after buying an additional 676 shares during the period. KBC Group NV bought a new position in Mineralys Therapeutics in the 1st quarter valued at about $33,000. Royal Bank of Canada increased its holdings in Mineralys Therapeutics by 262.3% in the 4th quarter. Royal Bank of Canada now owns 1,529 shares of the company's stock valued at $56,000 after buying an additional 1,107 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Mineralys Therapeutics by 1,845.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company's stock valued at $76,000 after buying an additional 1,993 shares during the period. 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. 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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