Insider Selling: Mineralys Therapeutics (NASDAQ:MLYS) CEO Sells 16,236 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CEO Jon Congleton sold 16,236 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $32.62, for a total value of $529,618.32. Following the completion of the sale, the chief executive officer directly owned 639,151 shares in the company, valued at approximately $20,849,105.62. This represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, November 11th, Jon Congleton sold 200,000 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $45.44, for a total value of $9,088,000.00.

Mineralys Therapeutics Stock Down 0.1%

Shares of NASDAQ:MLYS traded down $0.04 on Tuesday, hitting $32.94. 2,027,806 shares of the company traded hands, compared to its average volume of 1,344,631. The company has a market cap of $2.61 billion, a PE ratio of -11.17 and a beta of 0.49. Mineralys Therapeutics, Inc. has a 52 week low of $8.24 and a 52 week high of $47.65. The stock has a 50 day simple moving average of $38.74 and a 200-day simple moving average of $30.89.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. HC Wainwright upped their target price on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Finally, Stifel Nicolaus upped their price target on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.43.

Institutional Trading of Mineralys Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of MLYS. Smartleaf Asset Management LLC lifted its position in shares of Mineralys Therapeutics by 198.2% in the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock worth $40,000 after buying an additional 676 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Mineralys Therapeutics by 4.3% during the first 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. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Mineralys Therapeutics by 51.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock valued at $34,000 after acquiring an additional 850 shares during the period. Velan Capital Investment Management LP lifted its holdings in shares of Mineralys Therapeutics by 0.6% in the 3rd quarter. Velan Capital Investment Management LP now owns 175,600 shares of the company’s stock worth $6,659,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in shares of Mineralys Therapeutics by 42.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,995 shares of the company’s stock worth $54,000 after purchasing an additional 1,197 shares during the period. 84.46% of the stock is owned by hedge funds and other 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.