Mineralys Therapeutics (NASDAQ:MLYS) Insider Eric Warren Sells 7,438 Shares

Key Points

• Insider sale: Eric Warren sold 7,438 Mineralys Therapeutics shares for approximately $199,859 under a pre-arranged Rule 10b5-1 plan, reducing his direct holdings by 16.23% to 38,400 shares. He also sold 104,124 shares in June.
• Stock performance: MLYS shares closed at $26.59, with a $2.19 billion market capitalization and a 52-week trading range of $12.59 to $47.65.
• Analyst outlook: The stock has a “Moderate Buy” consensus rating from analysts, with a $49.33 average price target, despite some hold and sell ratings. Institutional investors own 84.46% of the company.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) insider Eric Warren sold 7,438 shares of the company's stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $26.87, for a total transaction of $199,859.06. Following the sale, the insider directly owned 38,400 shares in the company, valued at approximately $1,031,808. The trade was a 16.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Eric Warren also recently made the following trade(s):

• On Friday, June 26th, Eric Warren sold 104,124 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $25.90, for a total transaction of $2,696,811.60.

Mineralys Therapeutics Stock Performance

Shares of Mineralys Therapeutics stock traded down $0.62 during trading hours on Tuesday, reaching $26.59. 130,715 shares of the company were exchanged, compared to its average volume of 1,333,679. The firm has a market cap of $2.19 billion, a PE ratio of -12.95 and a beta of 0.66. Mineralys Therapeutics, Inc. has a 1 year low of $12.59 and a 1 year high of $47.65. The stock's fifty day moving average is $27.07 and its 200 day moving average is $28.13.

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

Analysts Set New Price Targets

Several research analysts have commented on MLYS shares. HC Wainwright reiterated a "buy" rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Weiss Ratings restated a "sell (d-)" rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Jefferies Financial Group reiterated a "hold" rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. TD Cowen initiated coverage on Mineralys Therapeutics in a research note on Monday, April 27th. They issued a "buy" rating on the stock. Finally, Wall Street Zen downgraded Mineralys Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $49.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC purchased a new stake in Mineralys Therapeutics in the 1st quarter valued at approximately $550,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Mineralys Therapeutics by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company's stock valued at $271,000 after buying an additional 702 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Mineralys Therapeutics by 166.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company's stock valued at $4,739,000 after buying an additional 186,480 shares during the period. Woodline Partners LP purchased a new stake in shares of Mineralys Therapeutics in the first quarter valued at approximately $757,000. Finally, Creative Planning acquired a new position in Mineralys Therapeutics during the second quarter worth $336,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Mineralys Therapeutics Company Profile

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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