Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Insider David Malcom Rodman Sells 55,771 Shares

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider David Malcom Rodman sold 55,771 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $15.76, for a total value of $878,950.96. Following the completion of the transaction, the insider now directly owns 116,704 shares in the company, valued at $1,839,255.04. This represents a 32.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Mineralys Therapeutics Stock Performance

Shares of MLYS stock traded down $0.47 on Thursday, reaching $13.53. 1,114,804 shares of the company’s stock traded hands, compared to its average volume of 375,929. The company has a market capitalization of $849.48 million, a P/E ratio of -3.72 and a beta of -0.39. Mineralys Therapeutics, Inc. has a 12-month low of $8.24 and a 12-month high of $18.38. The business’s 50 day moving average price is $11.78 and its two-hundred day moving average price is $12.26.

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

Hedge Funds Weigh In On Mineralys Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. lifted its position in shares of Mineralys Therapeutics by 17.7% in the third quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company’s stock worth $21,138,000 after buying an additional 262,922 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Mineralys Therapeutics by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 1,432,042 shares of the company’s stock worth $17,628,000 after purchasing an additional 68,811 shares during the last quarter. Millennium Management LLC boosted its position in Mineralys Therapeutics by 1,015.8% during the fourth quarter. Millennium Management LLC now owns 1,101,674 shares of the company’s stock worth $13,562,000 after purchasing an additional 1,002,941 shares during the period. Jennison Associates LLC raised its position in shares of Mineralys Therapeutics by 55.4% in the fourth quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock valued at $13,319,000 after purchasing an additional 385,726 shares during the period. Finally, Caligan Partners LP raised its position in shares of Mineralys Therapeutics by 3.1% in the fourth quarter. Caligan Partners LP now owns 1,011,155 shares of the company’s stock valued at $12,447,000 after purchasing an additional 30,000 shares during the period. Institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

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

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.