Insider Selling: Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Insider Sells 55,771 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) insider David Malcom Rodman sold 55,771 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was 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 of the company's stock, valued at approximately $1,839,255.04. This trade represents a 32.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Mineralys Therapeutics Trading Down 2.3 %

Shares of Mineralys Therapeutics stock traded down $0.28 during mid-day trading on Tuesday, reaching $11.77. 1,734,782 shares of the stock were exchanged, compared to its average volume of 393,767. Mineralys Therapeutics, Inc. has a fifty-two week low of $8.24 and a fifty-two week high of $18.38. The company has a market cap of $738.98 million, a price-to-earnings ratio of -3.23 and a beta of -0.39. The firm has a 50-day simple moving average of $12.00 and a 200 day simple moving average of $12.28.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.02. On average, research analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

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Analysts Set New Price Targets

A number of brokerages have commented on MLYS. Guggenheim restated a "buy" rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th. The Goldman Sachs Group dropped their target price on Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Finally, HC Wainwright boosted their price target on Mineralys Therapeutics from $30.00 to $42.00 and gave the company a "buy" rating in a research note on Wednesday, April 2nd.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new stake in shares of Mineralys Therapeutics in the fourth quarter valued at $48,000. GAMMA Investing LLC increased its position in Mineralys Therapeutics by 9,602.2% in the 1st quarter. GAMMA Investing LLC now owns 8,829 shares of the company's stock valued at $140,000 after acquiring an additional 8,738 shares in the last quarter. ProShare Advisors LLC bought a new position in shares of Mineralys Therapeutics in the fourth quarter worth about $128,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Mineralys Therapeutics by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company's stock worth $130,000 after purchasing an additional 989 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Mineralys Therapeutics during the fourth quarter worth approximately $145,000. 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.