Jon Congleton Sells 75,000 Shares of Mineralys Therapeutics (NASDAQ:MLYS) Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CEO Jon Congleton sold 75,000 shares of Mineralys Therapeutics stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $26.14, for a total value of $1,960,500.00. Following the completion of the transaction, the chief executive officer owned 614,321 shares in the company, valued at $16,058,350.94. This trade represents a 10.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, April 13th, Jon Congleton sold 15,730 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $26.83, for a total transaction of $422,035.90.

Mineralys Therapeutics Stock Performance

MLYS stock opened at $26.89 on Thursday. Mineralys Therapeutics, Inc. has a one year low of $12.59 and a one year high of $47.65. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of -13.12 and a beta of 0.66. The firm has a 50-day simple moving average of $27.12 and a two-hundred day simple moving average of $29.24.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.04. As a group, equities analysts predict that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MLYS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. TD Cowen assumed coverage on Mineralys Therapeutics in a research report on Monday, April 27th. They issued a “buy” rating for the company. HC Wainwright restated a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Jefferies Financial Group reaffirmed a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Finally, Wall Street Zen cut Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.33.

Institutional Investors Weigh In On Mineralys Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in MLYS. Navalign LLC acquired a new position in shares of Mineralys Therapeutics in the 4th quarter valued at $33,000. KBC Group NV acquired a new stake in Mineralys Therapeutics during the 1st quarter worth about $33,000. Royal Bank of Canada grew its stake in Mineralys Therapeutics by 262.3% during the 4th quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock valued at $56,000 after purchasing an additional 1,107 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Mineralys Therapeutics by 1,845.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock valued at $76,000 after purchasing an additional 1,993 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Mineralys Therapeutics by 14,091.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock valued at $124,000 after purchasing an additional 3,241 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.