Mineralys Therapeutics (NASDAQ:MLYS) CEO Jon Congleton Sells 75,000 Shares

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CEO Jon Congleton sold 75,000 shares of the company’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 directly owned 614,321 shares of the company’s stock, valued at approximately $16,058,350.94. The trade was a 10.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 Performance

Mineralys Therapeutics stock opened at $26.98 on Wednesday. The company’s fifty day moving average price is $27.19 and its 200 day moving average price is $29.30. Mineralys Therapeutics, Inc. has a 1 year low of $12.59 and a 1 year high of $47.65. The stock has a market capitalization of $2.23 billion, a P/E ratio of -13.16 and a beta of 0.57.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC purchased a new position in Mineralys Therapeutics during the first quarter worth about $550,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 purchasing an additional 702 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Mineralys Therapeutics by 166.6% in the first quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company’s stock valued at $4,739,000 after purchasing an additional 186,480 shares during the period. Woodline Partners LP purchased a new stake in Mineralys Therapeutics in the first quarter valued at approximately $757,000. Finally, Creative Planning acquired a new position in Mineralys Therapeutics during the second quarter worth $336,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.