Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CFO Sells $129,729.42 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CFO Adam Scott Levy sold 10,757 shares of the firm’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $12.06, for a total transaction of $129,729.42. Following the completion of the sale, the chief financial officer now directly owns 215,340 shares in the company, valued at $2,597,000.40. This represents a 4.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Mineralys Therapeutics Stock Performance

Shares of MLYS stock traded down $0.04 on Tuesday, hitting $13.88. 440,438 shares of the company’s stock traded hands, compared to its average volume of 413,614. The stock has a market capitalization of $871.46 million, a price-to-earnings ratio of -3.81 and a beta of -0.39. The company’s fifty day simple moving average is $12.36 and its 200 day simple moving average is $12.34. Mineralys Therapeutics, Inc. has a one year low of $8.24 and a one year high of $18.38.

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

Hedge Funds Weigh In On Mineralys Therapeutics

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Guggenheim reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th. HC Wainwright raised their price objective on Mineralys Therapeutics from $30.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, April 2nd. Finally, The Goldman Sachs Group cut their target price on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a research note 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.