Mineralys Therapeutics (NASDAQ:MLYS) Insider David Malcom Rodman Sells 9,890 Shares

Key Points

• Insider selling continued: Mineralys Therapeutics insider David Malcom Rodman sold 9,890 shares on June 15 at an average price of $23.81, bringing his ownership down by 14.76%. The trade was made under a pre-arranged Rule 10b5-1 plan.
• Multiple recent sales: Rodman has also sold several other blocks of MLYS shares in recent weeks, including sales on June 17, June 12, and June 10, indicating a sustained pattern of insider selling.
• Stock and analyst backdrop: MLYS shares rose 4.8% to $25.13, while analysts currently rate the stock a Moderate Buy with an average price target of $49.33. The company recently beat quarterly EPS estimates, though it still reported a loss.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) insider David Malcom Rodman sold 9,890 shares of the business's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $23.81, for a total transaction of $235,480.90. Following the transaction, the insider owned 57,095 shares in the company, valued at approximately $1,359,431.95. The trade was a 14.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 Wednesday, June 17th, David Malcom Rodman sold 4,584 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $25.00, for a total transaction of $114,600.00.
• On Friday, June 12th, David Malcom Rodman sold 6,349 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $23.93, for a total transaction of $151,931.57.
• On Wednesday, June 10th, David Malcom Rodman sold 2,170 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $25.00, for a total transaction of $54,250.00.
• On Monday, May 18th, David Malcom Rodman sold 417 shares of Mineralys Therapeutics stock. The stock was 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 stock was 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 stock was 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 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 shares were 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 shares were sold at an average price of $26.54, for a total transaction of $373,099.32.

Mineralys Therapeutics Trading Up 4.8%

Shares of NASDAQ:MLYS traded up $1.14 on Wednesday, hitting $25.13. The company had a trading volume of 1,646,383 shares, compared to its average volume of 2,014,045. Mineralys Therapeutics, Inc. has a 1-year low of $12.59 and a 1-year high of $47.65. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -12.26 and a beta of 0.57. The stock has a 50 day moving average price of $27.64 and a 200 day moving average price of $30.13.

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

Institutional Investors Weigh In On Mineralys Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of MLYS. AQR Capital Management LLC bought a new stake in Mineralys Therapeutics during the first quarter worth about $550,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Mineralys Therapeutics by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company's stock worth $271,000 after purchasing an additional 702 shares during the period. Goldman Sachs Group Inc. lifted its position in Mineralys Therapeutics by 166.6% during the first quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company's stock worth $4,739,000 after purchasing an additional 186,480 shares during the period. Woodline Partners LP bought a new stake in Mineralys Therapeutics during the first quarter worth about $757,000. Finally, Creative Planning bought a new stake in Mineralys Therapeutics during the second quarter worth about $336,000. Institutional investors own 84.46% of the company's stock.

Wall Street Analysts Forecast Growth

MLYS has been the topic of several research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Mineralys Therapeutics in a research note on Tuesday, April 21st. HC Wainwright restated a "buy" rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Wall Street Zen downgraded shares of Mineralys Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Jefferies Financial Group restated a "hold" rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Finally, Bank of America upped their price target on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the company a "buy" rating in a research note on Friday, March 13th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $49.33.

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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