Mineralys Therapeutics (NASDAQ:MLYS) Insider Sells 7,437 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) insider Eric Warren sold 7,437 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $25.98, for a total value of $193,213.26. Following the transaction, the insider owned 38,400 shares in the company, valued at approximately $997,632. This represents a 16.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Eric Warren also recently made the following trade(s):

• On Tuesday, July 21st, Eric Warren sold 7,438 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $26.87, for a total transaction of $199,859.06.
• On Friday, June 26th, Eric Warren sold 104,124 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $25.90, for a total transaction of $2,696,811.60.

Mineralys Therapeutics Stock Up 4.2%

Shares of NASDAQ:MLYS traded up $1.07 during trading on Tuesday, hitting $26.34. The company’s stock had a trading volume of 863,960 shares, compared to its average volume of 1,266,213. The company has a market capitalization of $2.33 billion, a PE ratio of -6.21 and a beta of 0.68. Mineralys Therapeutics, Inc. has a fifty-two week low of $14.53 and a fifty-two week high of $47.65. The company has a debt-to-equity ratio of 0.18, a quick ratio of 34.46 and a current ratio of 34.46. The stock’s 50-day moving average price is $26.77 and its two-hundred day moving average price is $27.26.

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

Institutional Trading of Mineralys Therapeutics

Hedge funds have recently bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Mineralys Therapeutics in the second quarter worth approximately $333,000. California State Teachers Retirement System boosted its stake in Mineralys Therapeutics by 2,860.2% in the 2nd quarter. California State Teachers Retirement System now owns 1,813,623 shares of the company’s stock worth $48,932,000 after purchasing an additional 1,752,357 shares during the period. Pale Fire Capital SE boosted its stake in Mineralys Therapeutics by 68.0% in the 2nd quarter. Pale Fire Capital SE now owns 614,284 shares of the company’s stock worth $16,573,000 after purchasing an additional 248,658 shares during the period. Nantahala Capital Management LLC acquired a new stake in shares of Mineralys Therapeutics in the second quarter worth $22,136,577,000. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Mineralys Therapeutics in the second quarter worth $226,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Zacks Research downgraded Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 13th. Wall Street Zen lowered Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. HC Wainwright reissued a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. Finally, TD Cowen began coverage on shares of Mineralys Therapeutics in a research note on Monday, April 27th. They set a “buy” rating on the stock. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.