Mineralys Therapeutics (NASDAQ:MLYS) CEO Sells $422,035.90 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CEO Jon Congleton sold 15,730 shares of the stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $26.83, for a total transaction of $422,035.90. Following the transaction, the chief executive officer owned 689,321 shares in the company, valued at approximately $18,494,482.43. This trade represents a 2.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, March 31st, Jon Congleton sold 75,000 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $26.27, for a total transaction of $1,970,250.00.

Mineralys Therapeutics Stock Performance

Shares of NASDAQ MLYS traded up $3.10 during midday trading on Wednesday, hitting $30.42. 3,180,291 shares of the stock traded hands, compared to its average volume of 1,310,737. The firm has a 50-day moving average of $27.26 and a two-hundred day moving average of $34.36. The firm has a market capitalization of $2.51 billion, a P/E ratio of -12.84 and a beta of 0.69. Mineralys Therapeutics, Inc. has a one year low of $12.59 and a one year high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.17. Equities analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Bank of America increased their price objective on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. HC Wainwright set a $56.00 target price on shares of Mineralys Therapeutics and gave the company a “buy” rating in a research report on Tuesday, March 10th. Jefferies Financial Group reaffirmed a “hold” rating and set a $30.00 target price on shares of Mineralys Therapeutics in a report on Friday, March 13th. Wall Street Zen upgraded shares of Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Thursday, January 22nd. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Mineralys Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $49.14.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Navalign LLC bought a new position in shares of Mineralys Therapeutics in the 4th quarter valued at about $33,000. Smartleaf Asset Management LLC increased its stake in Mineralys Therapeutics by 198.2% during the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock worth $40,000 after acquiring an additional 676 shares during the last quarter. Royal Bank of Canada increased its stake in Mineralys Therapeutics by 262.3% during the fourth quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock worth $56,000 after acquiring an additional 1,107 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in Mineralys Therapeutics by 1,845.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock valued at $76,000 after purchasing an additional 1,993 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Mineralys Therapeutics by 14,091.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock valued at $124,000 after purchasing an additional 3,241 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

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.