Jon Congleton Sells 16,236 Shares of Mineralys Therapeutics (NASDAQ:MLYS) Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CEO Jon Congleton sold 16,236 shares of Mineralys Therapeutics stock in a transaction on Monday, January 12th. The shares were sold at an average price of $32.62, for a total transaction of $529,618.32. Following the completion of the sale, the chief executive officer owned 639,151 shares of the company’s stock, valued at $20,849,105.62. This represents a 2.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, November 11th, Jon Congleton sold 200,000 shares of Mineralys Therapeutics stock. The stock was sold at an average price of $45.44, for a total transaction of $9,088,000.00.

Mineralys Therapeutics Trading Up 1.5%

MLYS opened at $33.42 on Thursday. The company has a fifty day moving average price of $38.62 and a two-hundred day moving average price of $30.91. Mineralys Therapeutics, Inc. has a 1-year low of $8.24 and a 1-year high of $47.65. The company has a market cap of $2.64 billion, a P/E ratio of -11.33 and a beta of 0.49.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its earnings results on Monday, November 10th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.14. On average, research analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Mineralys Therapeutics

Institutional investors have recently modified their holdings of the business. RA Capital Management L.P. lifted its holdings in Mineralys Therapeutics by 19.1% during the third quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company’s stock worth $277,717,000 after acquiring an additional 1,176,470 shares during the period. Vanguard Group Inc. raised its stake in shares of Mineralys Therapeutics by 29.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,018,999 shares of the company’s stock worth $114,480,000 after purchasing an additional 692,550 shares during the period. Caligan Partners LP boosted its holdings in shares of Mineralys Therapeutics by 37.4% in the 3rd quarter. Caligan Partners LP now owns 2,772,654 shares of the company’s stock worth $105,139,000 after buying an additional 755,302 shares during the last quarter. Suvretta Capital Management LLC grew its position in Mineralys Therapeutics by 22.2% during the third quarter. Suvretta Capital Management LLC now owns 2,132,133 shares of the company’s stock valued at $80,850,000 after buying an additional 387,641 shares during the period. Finally, Franklin Resources Inc. grew its position in Mineralys Therapeutics by 0.3% during the third quarter. Franklin Resources Inc. now owns 1,809,768 shares of the company’s stock valued at $68,626,000 after buying an additional 6,171 shares during the period. 84.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MLYS has been the subject of several recent research reports. Stifel Nicolaus boosted their target price 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Wednesday, October 8th. HC Wainwright raised their target price on Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Finally, Wells Fargo & Company upped their price target on Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.43.

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.