Insider Selling: Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CFO Sells $181,761.84 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CFO Adam Scott Levy sold 12,946 shares of the company’s stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $14.04, for a total transaction of $181,761.84. Following the completion of the sale, the chief financial officer directly owned 193,666 shares in the company, valued at approximately $2,719,070.64. The trade was a 6.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Adam Scott Levy also recently made the following trade(s):

• On Wednesday, July 30th, Adam Scott Levy sold 59,925 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $14.76, for a total transaction of $884,493.00.
• On Tuesday, July 29th, Adam Scott Levy sold 807 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $14.00, for a total transaction of $11,298.00.
• On Friday, July 11th, Adam Scott Levy sold 10,758 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $14.45, for a total transaction of $155,453.10.

Mineralys Therapeutics Trading Down 3.5%

Shares of MLYS opened at $13.66 on Friday. Mineralys Therapeutics, Inc. has a 12 month low of $8.24 and a 12 month high of $18.38. The firm’s 50 day moving average is $14.52 and its 200-day moving average is $13.27. The stock has a market capitalization of $890.36 million, a PE ratio of -3.66 and a beta of -0.29.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results on Monday, May 12th. The company reported ($0.79) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.23. Equities research analysts predict that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Mineralys Therapeutics in a report on Tuesday, June 10th. They issued a “hold” rating and a $15.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $42.00 price target on shares of Mineralys Therapeutics in a report on Tuesday, June 17th. Wall Street Zen cut shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. Finally, Guggenheim set a $48.00 price target on shares of Mineralys Therapeutics and gave the company a “buy” rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $32.25.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MLYS. SBI Securities Co. Ltd. increased its holdings in shares of Mineralys Therapeutics by 297.5% during the first quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company’s stock worth $25,000 after purchasing an additional 1,190 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Mineralys Therapeutics by 51.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock worth $34,000 after purchasing an additional 850 shares during the period. BNP Paribas Financial Markets bought a new position in shares of Mineralys Therapeutics during the fourth quarter worth approximately $48,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Mineralys Therapeutics during the 2nd quarter worth approximately $91,000. Finally, Quarry LP acquired a new stake in shares of Mineralys Therapeutics during the 1st quarter worth approximately $111,000. 84.46% of the stock is owned by institutional investors.

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.