Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells $114,600.00 in Stock

Key Points

• Insider sale: Mineralys Therapeutics insider David Malcom Rodman sold 4,584 shares at $25.00 each, totaling $114,600. The trade was made under a pre-arranged Rule 10b5-1 plan, and his ownership fell by 7.43%.
• Recent selling activity: Rodman has been a frequent seller of MLYS shares in recent weeks, including several larger transactions in June and May. His latest sale adds to a series of disposals that have steadily reduced his stake.
• Stock and analyst backdrop: MLYS rose 4.8% to $25.13 on the day, after recently reporting a narrower-than-expected quarterly loss. Wall Street currently has a Moderate Buy consensus with an average target price of $49.33.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) insider David Malcom Rodman sold 4,584 shares of Mineralys Therapeutics stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $25.00, for a total value of $114,600.00. Following the completion of the transaction, the insider owned 57,095 shares of the company's stock, valued at approximately $1,427,375. This trade represents a 7.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 15th, David Malcom Rodman sold 9,890 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $23.81, for a total value of $235,480.90.
• 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 value of $151,931.57.
• On Wednesday, June 10th, David Malcom Rodman sold 2,170 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $25.00, for a total value of $54,250.00.
• 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 value 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 value 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 value 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 value 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 value 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 value 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 value of $373,099.32.

Mineralys Therapeutics Stock Up 4.8%

Mineralys Therapeutics stock traded up $1.14 during midday trading on Wednesday, reaching $25.13. The company's stock had a trading volume of 1,646,383 shares, compared to its average volume of 2,014,045. Mineralys Therapeutics, Inc. has a fifty-two week low of $12.59 and a fifty-two week high of $47.65. The company has a market cap of $2.07 billion, a P/E ratio of -12.26 and a beta of 0.57. The business has a 50-day simple moving average of $27.64 and a 200-day simple moving average of $30.13.

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

Hedge Funds Weigh In On Mineralys Therapeutics

Several institutional investors have recently added to or reduced their stakes in MLYS. Hudson Bay Capital Management LP purchased a new stake in Mineralys Therapeutics in the 3rd quarter valued at approximately $2,873,000. SG Americas Securities LLC boosted its holdings in Mineralys Therapeutics by 130.7% in the 4th quarter. SG Americas Securities LLC now owns 230,795 shares of the company's stock valued at $8,376,000 after purchasing an additional 130,758 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Mineralys Therapeutics by 29.8% in the 3rd quarter. Vanguard Group Inc. now owns 3,018,999 shares of the company's stock valued at $114,480,000 after purchasing an additional 692,550 shares in the last quarter. Citigroup Inc. boosted its holdings in Mineralys Therapeutics by 501.7% in the 3rd quarter. Citigroup Inc. now owns 163,168 shares of the company's stock valued at $6,187,000 after purchasing an additional 136,050 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in Mineralys Therapeutics by 234.4% in the 4th quarter. Jennison Associates LLC now owns 1,258,653 shares of the company's stock valued at $45,677,000 after purchasing an additional 882,307 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MLYS. Wall Street Zen cut Mineralys Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. TD Cowen began coverage on Mineralys Therapeutics in a research report on Monday, April 27th. They set a "buy" rating on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. Jefferies Financial Group reiterated a "hold" rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Finally, HC Wainwright restated a "buy" rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Six 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. Based on data from MarketBeat.com, the company currently has a consensus 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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