Mineralys Therapeutics (NASDAQ:MLYS) Insider David Malcom Rodman Sells 70,037 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 70,037 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $35.87, for a total transaction of $2,512,227.19. Following the completion of the transaction, the insider directly owned 69,188 shares in the company, valued at approximately $2,481,773.56. The trade was a 50.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, January 5th, David Malcom Rodman sold 192,715 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $35.02, for a total transaction of $6,748,879.30.
• On Wednesday, October 15th, David Malcom Rodman sold 10,369 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $43.01, for a total value of $445,970.69.

Mineralys Therapeutics Stock Performance

MLYS opened at $35.71 on Wednesday. The company has a fifty day moving average of $39.41 and a 200 day moving average of $30.20. Mineralys Therapeutics, Inc. has a fifty-two week low of $8.24 and a fifty-two week high of $47.65. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -12.11 and a beta of 0.49.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results on Monday, November 10th. The company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.14. On average, equities research analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on MLYS. Wells Fargo & Company upped their target price on Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Wednesday, October 8th. Stifel Nicolaus increased their target price on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, December 19th. HC Wainwright upped their price target on Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Finally, The Goldman Sachs Group boosted their target price on Mineralys Therapeutics from $32.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.43.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP purchased a new stake in shares of Mineralys Therapeutics during the third quarter valued at $2,873,000. Armistice Capital LLC raised its stake in shares of Mineralys Therapeutics by 185.2% in the 3rd quarter. Armistice Capital LLC now owns 507,650 shares of the company’s stock valued at $19,250,000 after acquiring an additional 329,650 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Mineralys Therapeutics in the third quarter valued at about $714,000. Velan Capital Investment Management LP increased its position in Mineralys Therapeutics by 0.6% during the third quarter. Velan Capital Investment Management LP now owns 175,600 shares of the company’s stock worth $6,659,000 after acquiring an additional 1,000 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in Mineralys Therapeutics during the third quarter worth about $700,000. 84.46% of the stock is currently owned by institutional investors.

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.