Mineralys Therapeutics (NASDAQ:MLYS) CFO Sells $345,762.12 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CFO Adam Scott Levy sold 10,758 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $32.14, for a total value of $345,762.12. Following the sale, the chief financial officer owned 8,638 shares in the company, valued at approximately $277,625.32. This trade represents a 55.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, November 11th, Adam Scott Levy sold 119,524 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $44.88, for a total value of $5,364,237.12.

Mineralys Therapeutics Stock Performance

NASDAQ:MLYS traded down $0.04 during midday trading on Tuesday, hitting $32.94. 2,027,806 shares of the company traded hands, compared to its average volume of 1,344,631. The firm’s fifty day moving average is $38.74 and its 200-day moving average is $30.89. Mineralys Therapeutics, Inc. has a 12-month low of $8.24 and a 12-month high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.14. On average, sell-side analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MLYS shares. Stifel Nicolaus upped their target price on Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Wells Fargo & Company increased their target price on Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Wednesday, October 8th. Finally, HC Wainwright lifted their price objective on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.43.

Institutional Trading of Mineralys Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in MLYS. RA Capital Management L.P. lifted its stake in shares of Mineralys Therapeutics by 19.1% during the third quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company’s stock worth $277,717,000 after buying an additional 1,176,470 shares during the period. Vanguard Group Inc. grew its stake in shares of Mineralys Therapeutics by 29.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,018,999 shares of the company’s stock worth $114,480,000 after purchasing an additional 692,550 shares during the period. Caligan Partners LP boosted its stake in shares of Mineralys Therapeutics by 37.4% during the 3rd quarter. Caligan Partners LP now owns 2,772,654 shares of the company’s stock worth $105,139,000 after acquiring an additional 755,302 shares in the last quarter. Suvretta Capital Management LLC grew its position in shares of Mineralys Therapeutics by 22.2% during the 3rd quarter. Suvretta Capital Management LLC now owns 2,132,133 shares of the company’s stock valued at $80,850,000 after acquiring an additional 387,641 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Mineralys Therapeutics by 0.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,809,768 shares of the company’s stock valued at $68,626,000 after purchasing an additional 6,171 shares in the last quarter. Hedge funds and other institutional investors 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.