Mineralys Therapeutics (NASDAQ:MLYS) Shares Gap Down After Insider Selling
by Scott Moore · The Cerbat GemMineralys Therapeutics, Inc. (NASDAQ:MLYS – Get Free Report)’s share price gapped down before the market opened on Tuesday following insider selling activity. The stock had previously closed at $27.24, but opened at $26.45. Mineralys Therapeutics shares last traded at $27.7590, with a volume of 1,449,829 shares trading hands.
Specifically, insider David Malcom Rodman sold 2,171 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $26.84, for a total value of $58,269.64. Following the completion of the sale, the insider directly owned 82,489 shares in the company, valued at approximately $2,214,004.76. The trade was a 2.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Analyst Ratings Changes
Several research firms recently issued reports on MLYS. HC Wainwright set a $56.00 target price on shares of Mineralys Therapeutics and gave the company a “buy” rating in a research note on Tuesday. Wall Street Zen cut shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Stifel Nicolaus raised their price target on Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Mineralys Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $47.43.
View Our Latest Research Report on MLYS
Mineralys Therapeutics Stock Down 1.6%
The firm has a market cap of $2.21 billion, a P/E ratio of -9.48 and a beta of 0.57. The stock’s 50-day moving average is $30.83 and its 200-day moving average is $35.35.
Institutional Trading of Mineralys Therapeutics
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC acquired a new position in shares of Mineralys Therapeutics during the first quarter valued at about $550,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Mineralys Therapeutics by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock worth $271,000 after buying an additional 702 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Mineralys Therapeutics by 166.6% during the first quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company’s stock worth $4,739,000 after buying an additional 186,480 shares in the last quarter. Woodline Partners LP bought a new position in Mineralys Therapeutics during the first quarter valued at about $757,000. Finally, Fox Run Management L.L.C. bought a new position in Mineralys Therapeutics during the second quarter valued at about $220,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.
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.