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

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 stock was sold at an average price of $15.76, for a total transaction 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 trade represents a 32.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Mineralys Therapeutics Price Performance

Shares of NASDAQ:MLYS opened at $12.40 on Friday. The stock has a market capitalization of $778.53 million, a P/E ratio of -3.41 and a beta of -0.39. The business has a 50-day moving average of $11.90 and a two-hundred day moving average of $12.28. Mineralys Therapeutics, Inc. has a fifty-two week low of $8.24 and a fifty-two week high of $18.38.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results 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. As a group, research analysts expect that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MLYS. China Universal Asset Management Co. Ltd. boosted its holdings in 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 valued at $130,000 after acquiring an additional 989 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Mineralys Therapeutics by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 214,906 shares of the company’s stock valued at $2,645,000 after purchasing an additional 1,307 shares during the period. Northern Trust Corp grew its holdings in Mineralys Therapeutics by 0.7% in the 4th quarter. Northern Trust Corp now owns 246,113 shares of the company’s stock valued at $3,030,000 after buying an additional 1,688 shares during the last quarter. Bank of New York Mellon Corp increased its position in Mineralys Therapeutics by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 65,318 shares of the company’s stock worth $804,000 after buying an additional 1,711 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Mineralys Therapeutics by 19.1% during the fourth quarter. Wells Fargo & Company MN now owns 23,714 shares of the company’s stock worth $292,000 after buying an additional 3,802 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MLYS shares. Guggenheim reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, February 24th. HC Wainwright raised their price objective on shares of Mineralys Therapeutics from $30.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, The Goldman Sachs Group reduced their target price on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, February 13th.

Mineralys Therapeutics Company Profile

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.