Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CEO Sells $230,476.84 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) CEO Jon Congleton sold 15,884 shares of the firm's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $14.51, for a total transaction of $230,476.84. Following the completion of the sale, the chief executive officer owned 846,405 shares of the company's stock, valued at $12,281,336.55. The trade was a 1.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Mineralys Therapeutics Price Performance

Shares of Mineralys Therapeutics stock traded up $0.02 during trading on Thursday, hitting $14.34. 1,021,346 shares of the company were exchanged, compared to its average volume of 560,265. Mineralys Therapeutics, Inc. has a 1-year low of $8.24 and a 1-year high of $18.38. The firm has a market capitalization of $934.68 million, a P/E ratio of -3.84 and a beta of -0.30. The firm's fifty day moving average price is $14.91 and its 200 day moving average price is $13.08.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.79) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.02) by $0.23. As a group, equities research analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MLYS shares. Wall Street Zen lowered shares of Mineralys Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Jefferies Financial Group assumed coverage on Mineralys Therapeutics in a research report on Tuesday, June 10th. They issued a "hold" rating and a $15.00 price objective for the company. HC Wainwright restated a "buy" rating and issued a $42.00 price objective on shares of Mineralys Therapeutics in a report on Tuesday, June 17th. Finally, Guggenheim set a $48.00 target price on shares of Mineralys Therapeutics and gave the stock a "buy" rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $32.25.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of large investors have recently added to or reduced their stakes in MLYS. SBI Securities Co. Ltd. raised its holdings in shares of 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 purchasing an additional 1,190 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Mineralys Therapeutics in the fourth quarter valued at about $48,000. Quarry LP acquired a new stake in shares of Mineralys Therapeutics in the first quarter valued at about $111,000. ProShare Advisors LLC bought a new stake in Mineralys Therapeutics during the fourth quarter worth about $128,000. Finally, CWM LLC boosted its position in Mineralys Therapeutics by 59.3% during the first quarter. CWM LLC now owns 8,342 shares of the company's stock valued at $132,000 after purchasing an additional 3,105 shares during the last quarter. Institutional investors own 84.46% of the company's stock.

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.