Mineralys Therapeutics CMO Buys Low, Sells High—Insider Actions Raise Questions About Short‑Term Price Momentum and Long‑Term Confidence

Insider Activity at Mineralys Therapeutics: What It Means for Investors

Recent Deal Overview On January 13, 2026, Chief Medical Officer Rodman David Malcom executed a Rule 10b‑5‑1 trading plan that bought 3,542 shares at $10.20, 4,167 shares at $14.25, and sold 7,709 shares at $32.75. A subsequent sale the next day added 11,367 shares at an average of $32.61. These transactions are part of a structured plan adopted on October 6, 2025, and therefore are not indicative of a “marketable” view on the company’s near‑term prospects. Nonetheless, the timing—just after the stock closed above $33—raises eyebrows for those watching insider activity as a gauge of confidence.

Insider Buying vs. Selling Patterns Malcom’s buying activity in January mirrors a pattern of intermittent purchases at low price levels (e.g., $1.08 on several dates) followed by larger sales when the share price peaks near the 52‑week high. The most recent buy was at $10.20, well below the current market price of $33.42. Over the past twelve months, he has executed a net sell of roughly 30,000 shares, while the company’s other insiders—CEO Jon Congleton and CFO Adam Scott—have sold tens of thousands of shares each in January alone. This concentration of sales could signal a broader liquidity event, or simply routine portfolio rebalancing.

Implications for Investors

1. Confidence Signal? The fact that Malcom is still buying at low levels suggests he sees long‑term upside, especially as Mineralys’ clinical pipeline for aldosterone synthase inhibitors continues to advance. However, the volume of sales by senior executives may erode short‑term price momentum, especially in a market that has already pulled back 12.93% this month.
2. Liquidity Considerations: With a market cap of $2.61 B and a negative P/E, the stock is priced on potential rather than earnings. Heavy insider selling can increase supply, potentially depressing the price further unless matched by strong demand from the clinical‑stage biopharma niche.
3. Regulatory Compliance: All trades are conducted under a Rule 10b‑5‑1 plan, mitigating the risk of insider trading allegations. The structured plan provides a transparent framework for future transactions, which can reassure investors that the company’s insiders are not making opportunistic trades.

Rodman Malcom: A Profile Through Transactions Malcom has been a consistent participant in Mineralys’ insider market for the past year. Key observations:

• Purchase Habits: He often buys at the low end of the price spectrum (e.g., $1.08) and sells when prices approach $30–35, aligning with the stock’s 52‑week high of $47.65.
• Option Liquidation: He has sold stock options in multiple instances, typically when the option’s vesting schedule completes and the shares are deemed “fairly valued.” This pattern reflects a disciplined approach to option liquidity.
• Net Position Trend: Despite periodic selling, Malcom’s post‑transaction holdings have hovered around 60,000–70,000 shares, indicating a relatively stable long‑term stake.

His trading cadence suggests a long‑term commitment to Mineralys, with periodic liquidity needs addressed through option sales and modest market purchases.

Takeaway for Investors

• Short‑Term Volatility: Expect continued volatility as insider sales provide a supply push against the current market price.
• Long‑Term Potential: The structured buying by the CMO hints at confidence in the company’s therapeutic pipeline, but investors should weigh this against the company’s negative earnings and the broader biopharma risk profile.
• Watch the 10b‑5‑1 Plan: Future filings will reveal whether the CMO continues to purchase or if the plan is phased out, which could provide a clearer signal of insider sentiment.