Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells 11,367 Shares of Stock

Key Points

• Mineralys Therapeutics insider David Malcom Rodman sold 11,367 shares of stock for approximately $409,212, decreasing his ownership by 12.24%, leaving him with 81,524 shares valued at nearly $2.93 million.
• The company's stock has shown significant growth, trading up 3.3% recently, with a current price of $37.42 and a 52-week high of $39.20.
• Mineralys Therapeutics recently reported earnings of ($0.66) per share, surpassing the consensus estimate by $0.12, with analysts forecasting a modest EPS of -4.23 for the current fiscal year.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) insider David Malcom Rodman sold 11,367 shares of Mineralys Therapeutics stock in a transaction on Monday, September 15th. The stock was sold at an average price of $36.00, for a total transaction of $409,212.00. Following the sale, the insider directly owned 81,524 shares of the company's stock, valued at approximately $2,934,864. This trade represents a 12.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Wednesday, August 13th, David Malcom Rodman sold 11,365 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $12.93, for a total transaction of $146,949.45.
• On Monday, July 14th, David Malcom Rodman sold 11,366 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $14.59, for a total transaction of $165,829.94.

Mineralys Therapeutics Price Performance

Shares of Mineralys Therapeutics stock traded down $0.60 during trading on Friday, hitting $39.27. 2,477,435 shares of the stock were exchanged, compared to its average volume of 2,696,109. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of -11.03 and a beta of -0.29. The firm's 50-day moving average price is $20.30 and its 200 day moving average price is $16.49. Mineralys Therapeutics, Inc. has a 12-month low of $8.24 and a 12-month high of $40.33.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.12. As a group, research analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. grew its position in Mineralys Therapeutics by 31.0% during the second quarter. China Universal Asset Management Co. Ltd. now owns 13,090 shares of the company's stock worth $177,000 after buying an additional 3,094 shares during the period. Rafferty Asset Management LLC acquired a new position in Mineralys Therapeutics during the second quarter worth about $776,000. Man Group plc grew its position in Mineralys Therapeutics by 50.1% during the second quarter. Man Group plc now owns 21,852 shares of the company's stock worth $296,000 after buying an additional 7,293 shares during the period. Balyasny Asset Management L.P. grew its position in Mineralys Therapeutics by 37.8% during the second quarter. Balyasny Asset Management L.P. now owns 205,723 shares of the company's stock worth $2,783,000 after buying an additional 56,450 shares during the period. Finally, Bank of America Corp DE grew its position in Mineralys Therapeutics by 78.9% during the second quarter. Bank of America Corp DE now owns 263,356 shares of the company's stock worth $3,563,000 after buying an additional 116,134 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MLYS has been the subject of a number of research reports. Wells Fargo & Company boosted their price target on shares of Mineralys Therapeutics from $26.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. HC Wainwright reissued a "buy" rating and issued a $42.00 price target on shares of Mineralys Therapeutics in a research report on Monday, September 8th. The Goldman Sachs Group boosted their price target on shares of Mineralys Therapeutics from $32.00 to $52.00 and gave the company a "buy" rating in a research report on Tuesday, September 9th. Bank of America boosted their price target on shares of Mineralys Therapeutics from $38.00 to $43.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Finally, Jefferies Financial Group boosted their price target on shares of Mineralys Therapeutics from $15.00 to $26.00 and gave the company a "hold" rating in a research report on Wednesday, September 3rd. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Mineralys Therapeutics has an average rating of "Moderate Buy" and an average target price of $43.50.

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.