Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells 6,348 Shares of Stock

Key Points

• Insider selling: Mineralys Therapeutics insider David Malcom Rodman sold 6,348 shares at an average price of $29.36, worth about $186,377. The trade was made under a pre-arranged Rule 10b5-1 plan, and his ownership fell by 8.34%.
• Recent selling trend: Rodman has made multiple recent sales of Mineralys shares, including a larger transaction of 14,056 shares on May 13. The article lists several additional sales in March and April, indicating ongoing insider disposition activity.
• Stock and fundamentals: MLYS fell 8.2% to $26.86 on the day, while the company recently reported a narrower-than-expected quarterly loss of $0.47 per share. Analyst sentiment remains mixed but leans positive, with a consensus Moderate Buy rating and target price of $49.14.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) insider David Malcom Rodman sold 6,348 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $29.36, for a total transaction of $186,377.28. Following the completion of the sale, the insider directly owned 69,792 shares in the company, valued at $2,049,093.12. This represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 shares were 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 shares were 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 Stock Down 8.2%

Shares of NASDAQ:MLYS traded down $2.40 on Wednesday, reaching $26.86. 1,630,121 shares of the company's stock were exchanged, compared to its average volume of 1,093,224. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of -13.10 and a beta of 0.49. Mineralys Therapeutics, Inc. has a fifty-two week low of $12.59 and a fifty-two week high of $47.65. The business's 50-day moving average is $27.12 and its two-hundred day moving average is $32.76.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share for the quarter, topping analysts' consensus estimates of ($0.51) by $0.04. Analysts predict that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. RA Capital Management L.P. grew its position in Mineralys Therapeutics by 19.1% in the 3rd quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company's stock valued at $277,717,000 after buying an additional 1,176,470 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Mineralys Therapeutics by 11.1% during the 4th quarter. Vanguard Group Inc. now owns 3,352,880 shares of the company's stock valued at $121,676,000 after purchasing an additional 333,881 shares in the last quarter. State Street Corp boosted its position in shares of Mineralys Therapeutics by 144.4% during the 4th quarter. State Street Corp now owns 3,184,999 shares of the company's stock valued at $115,584,000 after purchasing an additional 1,881,976 shares in the last quarter. Caligan Partners LP boosted its position in shares of Mineralys Therapeutics by 37.4% during the 3rd quarter. Caligan Partners LP now owns 2,772,654 shares of the company's stock valued at $105,139,000 after purchasing an additional 755,302 shares in the last quarter. Finally, Suvretta Capital Management LLC boosted its position in shares of Mineralys Therapeutics by 22.2% during the 3rd quarter. Suvretta Capital Management LLC now owns 2,132,133 shares of the company's stock valued at $80,850,000 after purchasing an additional 387,641 shares in the last quarter. Institutional investors own 84.46% of the company's stock.

Analyst Ratings Changes

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

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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