Mineralys Therapeutics (NASDAQ:MLYS) Stock: Insider Brian Taylor Slingsby Sells 104,320 Shares

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Director Brian Slingsby sold 104,320 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $28.81, for a total value of $3,005,459.20. Following the transaction, the director directly owned 7,805,718 shares of the company’s stock, valued at $224,882,735.58. The trade was a 1.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Mineralys Therapeutics Stock Performance

Shares of NASDAQ:MLYS opened at $25.86 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 34.46 and a quick ratio of 34.46. The business’s 50 day moving average price is $27.14 and its 200-day moving average price is $27.09. The firm has a market capitalization of $2.29 billion, a PE ratio of -6.10 and a beta of 0.68. Mineralys Therapeutics, Inc. has a 1 year low of $22.30 and a 1 year high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($2.85) EPS for the quarter, missing the consensus estimate of ($0.55) by ($2.30). As a group, equities research analysts expect that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MLYS. Zacks Research upgraded shares of Mineralys Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, September 11th. Jefferies Financial Group restated a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Friday, July 17th. HC Wainwright reiterated a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Finally, Wall Street Zen lowered shares of Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Mineralys Therapeutics has an average rating of “Moderate Buy” and an average price target of $48.80.

Institutional Trading of Mineralys Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Mineralys Therapeutics during the 2nd quarter valued at about $158,832,000. Orbimed Advisors LLC increased its position in Mineralys Therapeutics by 109.4% during the first quarter. Orbimed Advisors LLC now owns 2,052,900 shares of the company’s stock worth $55,613,000 after purchasing an additional 1,072,500 shares during the last quarter. Bank of America Corp DE acquired a new stake in Mineralys Therapeutics during the second quarter worth about $40,620,000. Polar Capital Holdings Plc raised its stake in Mineralys Therapeutics by 32.3% during the fourth quarter. Polar Capital Holdings Plc now owns 1,401,141 shares of the company’s stock worth $50,847,000 after purchasing an additional 342,365 shares during the period. Finally, Jennison Associates LLC raised its stake in Mineralys Therapeutics by 0.6% during the first quarter. Jennison Associates LLC now owns 1,266,174 shares of the company’s stock worth $34,301,000 after purchasing an additional 7,521 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

Mineralys Therapeutics Company Profile

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cardiovascular and kidney-related diseases. The company’s research is centered on conditions associated with excess aldosterone activity, including uncontrolled and resistant hypertension.

Mineralys’ lead investigational product is lorundrostat, also known as MLS-101, an oral, highly selective aldosterone synthase inhibitor. The company is evaluating lorundrostat in clinical studies as a potential treatment for patients whose blood pressure remains inadequately controlled despite existing therapy.