Mineralys Therapeutics (NASDAQ:MLYS) CEO Sells $1,970,250.00 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CEO Jon Congleton sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $26.27, for a total value of $1,970,250.00. Following the completion of the transaction, the chief executive officer directly owned 705,051 shares in the company, valued at approximately $18,521,689.77. This trade represents a 9.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 transaction of $529,618.32.

Mineralys Therapeutics Price Performance

Shares of NASDAQ:MLYS traded up $0.56 during mid-day trading on Thursday, hitting $26.97. The company had a trading volume of 1,645,140 shares, compared to its average volume of 1,258,201. Mineralys Therapeutics, Inc. has a one year low of $10.44 and a one year high of $47.65. The firm has a fifty day moving average price of $28.00 and a 200 day moving average price of $35.05. The company has a market capitalization of $2.22 billion, a PE ratio of -11.38 and a beta of 0.57.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MLYS. HC Wainwright set a $56.00 target price on Mineralys Therapeutics and gave the stock a “buy” rating in a report on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Thursday, January 22nd. Wall Street Zen upgraded Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. Stifel Nicolaus lifted their price objective on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 target price on shares of Mineralys Therapeutics in a research note on Friday, March 13th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.14.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. State Street Corp raised its stake in Mineralys Therapeutics by 144.4% during the fourth quarter. State Street Corp now owns 3,184,999 shares of the company’s stock valued at $115,584,000 after buying an additional 1,881,976 shares during the last quarter. Farallon Capital Management LLC bought a new position in shares of Mineralys Therapeutics during the third quarter valued at $63,442,000. Price T Rowe Associates Inc. MD raised its position in shares of Mineralys Therapeutics by 6,097.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,325,120 shares of the company’s stock worth $48,089,000 after purchasing an additional 1,303,737 shares during the last quarter. Holocene Advisors LP purchased a new position in shares of Mineralys Therapeutics in the 3rd quarter worth about $45,708,000. Finally, Janus Henderson Group PLC raised its position in shares of Mineralys Therapeutics by 6,012.8% in the 4th quarter. Janus Henderson Group PLC now owns 1,213,265 shares of the company’s stock worth $44,005,000 after purchasing an additional 1,193,417 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

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.