Mineralys Therapeutics (NASDAQ:MLYS) CEO Jon Congleton Sells 200,000 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CEO Jon Congleton sold 200,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $45.44, for a total transaction of $9,088,000.00. Following the completion of the sale, the chief executive officer directly owned 631,305 shares in the company, valued at approximately $28,686,499.20. This represents a 24.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, October 13th, Jon Congleton sold 15,100 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $42.67, for a total value of $644,317.00.

Mineralys Therapeutics Trading Down 6.4%

NASDAQ MLYS opened at $44.29 on Friday. The firm has a market capitalization of $3.51 billion, a PE ratio of -15.01 and a beta of 0.40. The business’s 50-day moving average price is $40.05 and its two-hundred day moving average price is $23.78. Mineralys Therapeutics, Inc. has a 12 month low of $8.24 and a 12 month high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.14. As a group, analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Mineralys Therapeutics by 32.8% during the 1st quarter. Wellington Management Group LLP now owns 121,557 shares of the company’s stock valued at $1,930,000 after purchasing an additional 30,028 shares in the last quarter. Voya Investment Management LLC bought a new position in shares of Mineralys Therapeutics in the first quarter valued at $255,000. Strs Ohio acquired a new position in shares of Mineralys Therapeutics during the first quarter valued at about $359,000. Goldman Sachs Group Inc. increased its position in shares of 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 acquiring an additional 186,480 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Mineralys Therapeutics in the 1st quarter worth about $219,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MLYS shares. Wells Fargo & Company upped their price objective on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday. Bank of America upped their price target on shares of Mineralys Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Jefferies Financial Group increased their price target on Mineralys Therapeutics from $15.00 to $26.00 and gave the stock a “hold” rating in a report on Wednesday, September 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group raised their target price on Mineralys Therapeutics from $32.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, September 9th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.67.

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.