Mineralys Therapeutics (NASDAQ:MLYS) CEO Sells $1,960,500.00 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CEO Jon Congleton sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $26.14, for a total value of $1,960,500.00. Following the transaction, the chief executive officer owned 614,321 shares of the company’s stock, valued at approximately $16,058,350.94. This represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jon Congleton also recently made the following trade(s):

• On Monday, April 13th, Jon Congleton sold 15,730 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $26.83, for a total value of $422,035.90.

Mineralys Therapeutics Stock Up 0.4%

Mineralys Therapeutics stock traded up $0.10 during mid-day trading on Tuesday, hitting $26.98. 2,030,353 shares of the company’s stock traded hands, compared to its average volume of 1,415,698. The firm has a 50 day moving average price of $27.26 and a 200 day moving average price of $29.37. The company has a market cap of $2.23 billion, a PE ratio of -13.16 and a beta of 0.56. Mineralys Therapeutics, Inc. has a one year low of $12.59 and a one year high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.04. On average, analysts expect that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MLYS. HC Wainwright reiterated a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. TD Cowen initiated coverage on shares of Mineralys Therapeutics in a research note on Monday, April 27th. They issued a “buy” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. Wall Street Zen lowered shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Bank of America raised their price objective on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.33.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MLYS. AQR Capital Management LLC acquired a new position in Mineralys Therapeutics during the first quarter worth about $550,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Mineralys Therapeutics by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock valued at $271,000 after acquiring an additional 702 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Mineralys Therapeutics by 166.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company’s stock valued at $4,739,000 after acquiring an additional 186,480 shares during the last quarter. Woodline Partners LP bought a new position in shares of Mineralys Therapeutics during the 1st quarter valued at about $757,000. Finally, Creative Planning bought a new position in shares of Mineralys Therapeutics during the 2nd quarter valued at about $336,000. Institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Company Profile

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.