Mineralys Therapeutics (NASDAQ:MLYS) Insider David Malcom Rodman Sells 2,170 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 2,170 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $25.00, for a total transaction of $54,250.00. Following the sale, the insider directly owned 63,443 shares of the company’s stock, valued at approximately $1,586,075. The trade was a 3.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 transaction of $151,931.57.
• 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $373,099.32.
• On Thursday, April 9th, David Malcom Rodman sold 2,170 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $27.38, for a total transaction of $59,414.60.

Mineralys Therapeutics Stock Performance

MLYS opened at $23.62 on Friday. Mineralys Therapeutics, Inc. has a fifty-two week low of $12.59 and a fifty-two week high of $47.65. The firm’s fifty day moving average is $27.83 and its 200 day moving average is $30.61. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -11.52 and a beta of 0.57.

Mineralys Therapeutics (NASDAQ:MLYS) last released its 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. On average, equities research analysts predict that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on MLYS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Tuesday, April 21st. TD Cowen began coverage on shares of Mineralys Therapeutics in a research note on Monday, April 27th. They issued a “buy” rating on the stock. Wall Street Zen cut shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Jefferies Financial Group reiterated a “hold” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Finally, Bank of America boosted their price target on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.33.

Institutional Trading of Mineralys Therapeutics

Hedge funds have recently made changes to their positions in the business. Hudson Bay Capital Management LP purchased a new stake in shares of Mineralys Therapeutics during the 3rd quarter valued at about $2,873,000. SG Americas Securities LLC raised its position in shares of Mineralys Therapeutics by 130.7% during the 4th quarter. SG Americas Securities LLC now owns 230,795 shares of the company’s stock valued at $8,376,000 after buying an additional 130,758 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Mineralys Therapeutics by 29.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,018,999 shares of the company’s stock valued at $114,480,000 after buying an additional 692,550 shares in the last quarter. Citigroup Inc. raised its position in shares of Mineralys Therapeutics by 501.7% during the 3rd quarter. Citigroup Inc. now owns 163,168 shares of the company’s stock valued at $6,187,000 after buying an additional 136,050 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Mineralys Therapeutics by 234.4% during the 4th quarter. Jennison Associates LLC now owns 1,258,653 shares of the company’s stock valued at $45,677,000 after buying an additional 882,307 shares in the last quarter. 84.46% of the stock is currently 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. 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.