Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CFO Sells $181,761.84 in Stock

Key Points

• CFO Adam Scott Levy of Mineralys Therapeutics sold 12,946 shares of the company's stock on July 28th, valued at approximately $181,761.84, representing a 6.27% decrease in his holdings.
• The current stock price for MLYS is around $14.49, with a market cap of $944.46 million and a 52-week trading range between $8.24 and $18.38.
• Several institutional investors are increasing their stakes in Mineralys Therapeutics, with over 84% of the stock owned by institutional investors and hedge funds.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) CFO Adam Scott Levy sold 12,946 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $14.04, for a total value of $181,761.84. Following the transaction, the chief financial officer owned 193,666 shares of the company's stock, valued at $2,719,070.64. This represents a 6.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Adam Scott Levy also recently made the following trade(s):

• On Wednesday, July 30th, Adam Scott Levy sold 59,925 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $14.76, for a total transaction of $884,493.00.
• On Tuesday, July 29th, Adam Scott Levy sold 807 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $14.00, for a total transaction of $11,298.00.
• On Friday, July 11th, Adam Scott Levy sold 10,758 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $14.45, for a total value of $155,453.10.

Mineralys Therapeutics Price Performance

Shares of NASDAQ:MLYS traded down $0.49 during trading on Friday, reaching $13.66. 1,107,843 shares of the company were exchanged, compared to its average volume of 637,447. The business's fifty day simple moving average is $14.52 and its 200-day simple moving average is $13.30. Mineralys Therapeutics, Inc. has a 12-month low of $8.24 and a 12-month high of $18.38. The firm has a market capitalization of $890.36 million, a PE ratio of -3.66 and a beta of -0.29.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.79) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.23. On average, sell-side analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MLYS shares. Guggenheim set a $48.00 target price on shares of Mineralys Therapeutics and gave the company a "buy" rating in a research note on Wednesday, May 14th. Jefferies Financial Group began coverage on Mineralys Therapeutics in a research report on Tuesday, June 10th. They issued a "hold" rating and a $15.00 price objective on the stock. Wall Street Zen lowered Mineralys Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Finally, HC Wainwright reissued a "buy" rating and set a $42.00 target price on shares of Mineralys Therapeutics in a research note on Tuesday, June 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $32.25.

Hedge Funds Weigh In On Mineralys Therapeutics

Several institutional investors have recently made changes to their positions in MLYS. RA Capital Management L.P. grew its holdings in Mineralys Therapeutics by 26.7% during the 1st quarter. RA Capital Management L.P. now owns 6,147,280 shares of the company's stock worth $97,619,000 after acquiring an additional 1,296,296 shares in the last quarter. SR One Capital Management LP boosted its stake in shares of Mineralys Therapeutics by 55.1% during the first 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 in the last quarter. Millennium Management LLC boosted its stake in shares of Mineralys Therapeutics by 1,015.8% during the fourth 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 in the last quarter. Jennison Associates LLC increased its holdings in Mineralys Therapeutics by 82.9% during the first quarter. Jennison Associates LLC now owns 1,979,033 shares of the company's stock valued at $31,427,000 after buying an additional 897,027 shares during the period. Finally, Vanguard Group Inc. raised its stake in Mineralys Therapeutics by 42.1% in the first quarter. Vanguard Group Inc. now owns 2,035,506 shares of the company's stock worth $32,324,000 after buying an additional 603,464 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, 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.