Mineralys Therapeutics (NASDAQ:MLYS) CEO Sells $422,035.90 in Stock

Key Points

• CEO Jon Congleton sold 15,730 shares on April 13 at an average of $26.83 for a total of $422,035.90 under a pre-arranged Rule 10b5-1 plan, reducing his stake by 2.23% to 689,321 shares.
• The stock traded up 11.3% to $30.42 on heavy volume (3.18M vs. avg 1.31M); Mineralys has a market cap of $2.51B and a one-year range of $12.59–$47.65.
• Analysts are broadly positive with a consensus "Moderate Buy" and average price target of $49.14, and the company recently beat quarterly EPS estimates (‑$0.40 vs. consensus ‑$0.57).

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) CEO Jon Congleton sold 15,730 shares of the firm's stock in a transaction on Monday, April 13th. The stock was sold at an average price of $26.83, for a total value of $422,035.90. Following the completion of the sale, the chief executive officer directly owned 689,321 shares of the company's stock, valued at $18,494,482.43. The trade was a 2.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Tuesday, March 31st, Jon Congleton sold 75,000 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $26.27, for a total transaction of $1,970,250.00.

Mineralys Therapeutics Trading Up 11.3%

NASDAQ MLYS traded up $3.10 during trading on Wednesday, hitting $30.42. The company had a trading volume of 3,180,291 shares, compared to its average volume of 1,310,737. The company's fifty day moving average is $27.26 and its 200-day moving average is $34.36. Mineralys Therapeutics, Inc. has a one year low of $12.59 and a one year high of $47.65. The company has a market cap of $2.51 billion, a price-to-earnings ratio of -12.84 and a beta of 0.69.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its earnings results on Thursday, March 12th. The company reported ($0.40) earnings per share for the quarter, beating analysts' consensus estimates of ($0.57) by $0.17. As a group, equities analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC increased its holdings in Mineralys Therapeutics by 198.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company's stock worth $40,000 after buying an additional 676 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Mineralys Therapeutics by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company's stock valued at $271,000 after acquiring an additional 702 shares during the period. Navalign LLC purchased a new stake in shares of Mineralys Therapeutics during the 4th quarter valued at about $33,000. Velan Capital Investment Management LP boosted its holdings in shares of Mineralys Therapeutics by 0.6% during the 3rd quarter. Velan Capital Investment Management LP now owns 175,600 shares of the company's stock valued at $6,659,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of 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 acquiring an additional 1,107 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MLYS shares. Bank of America increased their price target on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a "buy" rating in a research note 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 report on Tuesday, March 10th. Wall Street Zen raised shares of Mineralys Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, March 15th. Stifel Nicolaus lifted their target price on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the company a "buy" rating in a report on Friday, December 19th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Mineralys Therapeutics in a research report on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Mineralys Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $49.14.

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.

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