Mineralys Therapeutics (NASDAQ:MLYS) Insider Eric Warren Sells 104,124 Shares

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider Eric Warren sold 104,124 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $25.90, for a total transaction of $2,696,811.60. Following the completion of the sale, the insider directly owned 38,400 shares of the company’s stock, valued at $994,560. This represents a 73.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mineralys Therapeutics Trading Up 0.4%

NASDAQ MLYS opened at $26.98 on Wednesday. Mineralys Therapeutics, Inc. has a 1-year low of $12.59 and a 1-year high of $47.65. The company has a 50 day moving average of $27.19 and a 200-day moving average of $29.30. The company has a market cap of $2.23 billion, a price-to-earnings ratio of -13.16 and a beta of 0.57.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Bank of America raised their price target on Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. HC Wainwright reiterated a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Jefferies Financial Group reissued a “hold” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Wall Street Zen cut shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.33.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Hudson Bay Capital Management LP bought a new position in Mineralys Therapeutics in the 3rd quarter valued at approximately $2,873,000. SG Americas Securities LLC grew its holdings in Mineralys Therapeutics by 130.7% during the 4th quarter. SG Americas Securities LLC now owns 230,795 shares of the company’s stock worth $8,376,000 after acquiring an additional 130,758 shares during the last quarter. Vanguard Group Inc. increased its position in Mineralys Therapeutics by 29.8% in the 3rd quarter. Vanguard Group Inc. now owns 3,018,999 shares of the company’s stock valued at $114,480,000 after acquiring an additional 692,550 shares during the period. Citigroup Inc. increased its position in Mineralys Therapeutics by 501.7% in the 3rd quarter. Citigroup Inc. now owns 163,168 shares of the company’s stock valued at $6,187,000 after acquiring an additional 136,050 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Mineralys Therapeutics by 234.4% during the fourth quarter. Jennison Associates LLC now owns 1,258,653 shares of the company’s stock valued at $45,677,000 after acquiring an additional 882,307 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.