Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Insider Sells $878,950.96 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 55,771 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $15.76, for a total transaction of $878,950.96. Following the completion of the sale, the insider now directly owns 116,704 shares of the company’s stock, valued at approximately $1,839,255.04. This represents a 32.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Mineralys Therapeutics Stock Performance

NASDAQ MLYS opened at $12.40 on Friday. The stock has a market capitalization of $778.53 million, a P/E ratio of -3.41 and a beta of -0.39. The business’s fifty day moving average is $11.90 and its two-hundred day moving average is $12.28. Mineralys Therapeutics, Inc. has a 1 year low of $8.24 and a 1 year high of $18.38.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results on Wednesday, February 12th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.02. On average, research analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on MLYS. The Goldman Sachs Group decreased their price target on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Guggenheim reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th. Finally, HC Wainwright boosted their price target on shares of Mineralys Therapeutics from $30.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday.

Institutional Trading of Mineralys Therapeutics

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new stake in shares of Mineralys Therapeutics during the fourth quarter valued at approximately $48,000. ProShare Advisors LLC purchased a new stake in shares of Mineralys Therapeutics in the fourth quarter valued at $128,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Mineralys Therapeutics by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company’s stock worth $130,000 after buying an additional 989 shares during the period. Price T Rowe Associates Inc. MD acquired a new position in Mineralys Therapeutics during the fourth quarter valued at $145,000. Finally, PDT Partners LLC acquired a new position in Mineralys Therapeutics during the third quarter valued at $148,000. 84.46% of the stock is owned by hedge funds and other 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.