Mineralys Therapeutics (NASDAQ:MLYS) CFO Adam Scott Levy Sells 119,524 Shares

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CFO Adam Scott Levy sold 119,524 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $44.88, for a total value of $5,364,237.12. Following the completion of the sale, the chief financial officer owned 19,396 shares in the company, valued at $870,492.48. This trade represents a 86.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Adam Scott Levy also recently made the following trade(s):

• On Monday, October 13th, Adam Scott Levy sold 10,758 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $42.01, for a total value of $451,943.58.

Mineralys Therapeutics Stock Down 6.4%

Mineralys Therapeutics stock opened at $44.29 on Friday. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of -15.01 and a beta of 0.40. The business has a 50-day simple moving average of $40.05 and a 200 day simple moving average of $23.78. Mineralys Therapeutics, Inc. has a 52 week low of $8.24 and a 52 week high of $47.65.

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

Institutional Investors Weigh In On Mineralys Therapeutics

A number of institutional investors have recently made changes to their positions in MLYS. Bank of New York Mellon Corp grew its holdings in shares of Mineralys Therapeutics by 3.9% during the 1st quarter. Bank of New York Mellon Corp now owns 67,868 shares of the company’s stock valued at $1,078,000 after purchasing an additional 2,550 shares during the last quarter. CWM LLC boosted its position in Mineralys Therapeutics by 59.3% during the first quarter. CWM LLC now owns 8,342 shares of the company’s stock valued at $132,000 after buying an additional 3,105 shares during the period. SBI Securities Co. Ltd. grew its stake in shares of Mineralys Therapeutics by 297.5% during the first quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company’s stock valued at $25,000 after buying an additional 1,190 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Mineralys Therapeutics by 82.9% in the first quarter. Jennison Associates LLC now owns 1,979,033 shares of the company’s stock worth $31,427,000 after buying an additional 897,027 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Mineralys Therapeutics in the first quarter worth about $219,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

MLYS has been the subject of several research analyst reports. Wells Fargo & Company lifted their target price on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday. HC Wainwright raised their price objective on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Wednesday, October 8th. Wall Street Zen raised Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, Jefferies Financial Group raised their price target on Mineralys Therapeutics from $15.00 to $26.00 and gave the company a “hold” rating in a research report on Wednesday, September 3rd. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.67.

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.