Daphne Karydas Sells 3,000 Shares of Mineralys Therapeutics (NASDAQ:MLYS) Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Director Daphne Karydas sold 3,000 shares of Mineralys Therapeutics stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $25.00, for a total value of $75,000.00. Following the completion of the transaction, the director directly owned 6,200 shares of the company’s stock, valued at approximately $155,000. This trade represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Daphne Karydas also recently made the following trade(s):

• On Tuesday, March 31st, Daphne Karydas sold 3,000 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $25.00, for a total value of $75,000.00.

Mineralys Therapeutics Price Performance

Shares of Mineralys Therapeutics stock opened at $24.63 on Friday. The stock’s 50-day moving average is $27.57 and its 200 day moving average is $30.00. Mineralys Therapeutics, Inc. has a one year low of $12.59 and a one year high of $47.65. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -12.01 and a beta of 0.57.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.04. On average, sell-side analysts expect that Mineralys Therapeutics, Inc. will post -2.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of large investors have recently modified their holdings of the company. RA Capital Management L.P. increased its stake in Mineralys Therapeutics by 19.1% during the 3rd quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company’s stock valued at $277,717,000 after purchasing an additional 1,176,470 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Mineralys Therapeutics by 11.1% during the fourth quarter. Vanguard Group Inc. now owns 3,352,880 shares of the company’s stock valued at $121,676,000 after buying an additional 333,881 shares during the last quarter. State Street Corp grew its holdings in shares of Mineralys Therapeutics by 144.4% during the fourth quarter. State Street Corp now owns 3,184,999 shares of the company’s stock valued at $115,584,000 after buying an additional 1,881,976 shares during the last quarter. Caligan Partners LP increased its position in shares of Mineralys Therapeutics by 37.4% during the third quarter. Caligan Partners LP now owns 2,772,654 shares of the company’s stock worth $105,139,000 after acquiring an additional 755,302 shares in the last quarter. Finally, Suvretta Capital Management LLC increased its position in shares of Mineralys Therapeutics by 22.2% during the third quarter. Suvretta Capital Management LLC now owns 2,132,133 shares of the company’s stock worth $80,850,000 after acquiring an additional 387,641 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MLYS has been the subject of several research analyst reports. HC Wainwright reiterated a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Tuesday, April 21st. TD Cowen initiated coverage on shares of Mineralys Therapeutics in a report on Monday, April 27th. They issued a “buy” rating for the company. Wall Street Zen downgraded shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Bank of America upped their price objective on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, March 13th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Mineralys Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.33.

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.