Jon Congleton Sells 15,100 Shares of Mineralys Therapeutics (NASDAQ:MLYS) Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CEO Jon Congleton sold 15,100 shares of Mineralys Therapeutics stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $42.67, for a total transaction of $644,317.00. Following the transaction, the chief executive officer owned 831,305 shares of the company’s stock, valued at $35,471,784.35. This represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Mineralys Therapeutics Stock Performance

Shares of NASDAQ MLYS opened at $42.97 on Friday. The firm’s 50-day simple moving average is $30.15 and its 200 day simple moving average is $19.76. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of -12.07 and a beta of 0.40. Mineralys Therapeutics, Inc. has a fifty-two week low of $8.24 and a fifty-two week high of $44.80.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.66) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.12. On average, sell-side analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Institutional Trading of Mineralys Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. boosted its stake in Mineralys Therapeutics by 297.5% in the first quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company’s stock valued at $25,000 after acquiring an additional 1,190 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Mineralys Therapeutics by 51.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock worth $34,000 after purchasing an additional 850 shares during the period. Ameritas Investment Partners Inc. lifted its stake in Mineralys Therapeutics by 42.8% in the second quarter. Ameritas Investment Partners Inc. now owns 3,995 shares of the company’s stock valued at $54,000 after purchasing an additional 1,197 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Mineralys Therapeutics in the second quarter valued at approximately $91,000. Finally, Quarry LP bought a new position in Mineralys Therapeutics during the first quarter valued at $111,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

MLYS has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Wednesday, October 8th. Wells Fargo & Company raised their price target on shares of Mineralys Therapeutics from $26.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Bank of America boosted their price target on shares of Mineralys Therapeutics from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Wall Street Zen upgraded shares of Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, HC Wainwright reissued a “buy” rating and set a $42.00 target price on shares of Mineralys Therapeutics in a research report on Monday, September 8th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Mineralys Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $43.50.

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.