Mineralys Therapeutics (NASDAQ:MLYS) CEO Sells $1,909,500.00 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CEO Jon Congleton sold 75,000 shares of the company’s stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $25.46, for a total value of $1,909,500.00. Following the completion of the transaction, the chief executive officer directly owned 528,621 shares in the company, valued at $13,458,690.66. This trade represents a 12.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mineralys Therapeutics Stock Performance

MLYS stock opened at $23.63 on Monday. Mineralys Therapeutics, Inc. has a twelve month low of $22.30 and a twelve month high of $47.65. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -5.57 and a beta of 0.69. The business’s fifty day simple moving average is $26.89 and its two-hundred day simple moving average is $27.00. The company has a quick ratio of 34.46, a current ratio of 34.46 and a debt-to-equity ratio of 0.18.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its earnings results on Wednesday, August 12th. The company reported ($2.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($2.30). Analysts predict that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MLYS. Wall Street Zen downgraded shares of Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Friday, July 17th. Finally, Zacks Research upgraded Mineralys Therapeutics from a “strong sell” rating to a “hold” rating in a report on Friday, September 11th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.80.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MLYS. Timothy G. Youngquist 2020 Irrevocable Trust bought a new stake in shares of Mineralys Therapeutics in the 2nd quarter valued at about $2,721,000. Man Group plc bought a new position in shares of Mineralys Therapeutics during the second quarter valued at approximately $1,609,000. TimesSquare Capital Management LLC purchased a new position in Mineralys Therapeutics during the second quarter valued at approximately $6,363,000. Bank of America Corp DE increased its holdings in Mineralys Therapeutics by 11.5% during the first quarter. Bank of America Corp DE now owns 1,100,372 shares of the company’s stock valued at $29,809,000 after buying an additional 113,092 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in Mineralys Therapeutics in the second quarter worth approximately $1,387,000. 84.46% of the stock is currently owned by institutional investors.

Mineralys Therapeutics Company Profile

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for hypertension and other cardiovascular and kidney-related conditions associated with excess aldosterone activity. The company is headquartered in Radnor, Pennsylvania.

Mineralys’ lead product candidate is lorundrostat, an oral, highly selective aldosterone synthase inhibitor designed to reduce the production of aldosterone. The company is evaluating lorundrostat as a potential treatment for uncontrolled or resistant hypertension, including hypertension linked to abnormal activation of the renin-angiotensin-aldosterone system.

Mineralys was established to advance therapies targeting aldosterone-driven disease and became a publicly traded company on the Nasdaq exchange in 2023.