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 Mineralys Therapeutics stock in a transaction that occurred 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 transaction, the insider now directly owns 116,704 shares in the company, valued at approximately $1,839,255.04. This trade represents a 32.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mineralys Therapeutics Price Performance

Shares of NASDAQ MLYS opened at $12.40 on Friday. The stock has a fifty day moving average price of $11.90 and a 200 day moving average price of $12.28. Mineralys Therapeutics, Inc. has a 1-year low of $8.24 and a 1-year high of $18.38. The company has a market cap of $778.53 million, a PE ratio of -3.41 and a beta of -0.39.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.98) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.02. Analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in shares of Mineralys Therapeutics by 1,015.8% during the 4th quarter. Millennium Management LLC now owns 1,101,674 shares of the company’s stock worth $13,562,000 after buying an additional 1,002,941 shares in the last quarter. Integral Health Asset Management LLC grew its holdings in Mineralys Therapeutics by 145.8% during the fourth quarter. Integral Health Asset Management LLC now owns 875,000 shares of the company’s stock worth $10,771,000 after acquiring an additional 519,000 shares during the period. JPMorgan Chase & Co. raised its position in Mineralys Therapeutics by 2,251.5% in the fourth quarter. JPMorgan Chase & Co. now owns 503,590 shares of the company’s stock worth $6,199,000 after acquiring an additional 482,174 shares in the last quarter. Stempoint Capital LP acquired a new stake in Mineralys Therapeutics in the fourth quarter valued at $4,925,000. Finally, Jennison Associates LLC boosted its position in shares of Mineralys Therapeutics by 55.4% during the 4th quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock worth $13,319,000 after purchasing an additional 385,726 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. HC Wainwright lifted their target price on shares of Mineralys Therapeutics from $30.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday. Guggenheim reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, February 24th. Finally, The Goldman Sachs Group lowered their price target on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, February 13th.

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.