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 stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $26.27, for a total transaction of $1,970,250.00. Following the completion of the transaction, the chief executive officer owned 705,051 shares of the company’s stock, valued at approximately $18,521,689.77. This represents a 9.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, January 12th, Jon Congleton sold 16,236 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $32.62, for a total value of $529,618.32.

Mineralys Therapeutics Price Performance

Shares of NASDAQ:MLYS traded up $0.56 during trading on Thursday, reaching $26.97. The stock had a trading volume of 1,645,140 shares, compared to its average volume of 1,258,201. The stock has a market capitalization of $2.22 billion, a PE ratio of -11.38 and a beta of 0.57. The business’s 50-day moving average price is $28.00 and its 200 day moving average price is $35.05. Mineralys Therapeutics, Inc. has a 52 week low of $10.44 and a 52 week high of $47.65.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 price objective on shares of Mineralys Therapeutics in a report on Friday, March 13th. Stifel Nicolaus lifted their price target on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Bank of America upped their price target on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, March 13th. HC Wainwright set a $56.00 price objective on shares of Mineralys Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Thursday, January 22nd. Six research 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.14.

Hedge Funds Weigh In On Mineralys Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Navalign LLC bought a new stake in shares of Mineralys Therapeutics during the 4th quarter worth $33,000. Smartleaf Asset Management LLC lifted its holdings in shares of 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 purchasing an additional 676 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in 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 buying an additional 1,197 shares during the period. Royal Bank of Canada lifted its stake in shares of Mineralys Therapeutics by 262.3% in 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 period. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Mineralys Therapeutics by 1,845.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock worth $76,000 after purchasing an additional 1,993 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

About Mineralys Therapeutics

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.