Insider Selling: Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CEO Sells 15,319 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CEO Jon Congleton sold 15,319 shares of the firm’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $12.19, for a total transaction of $186,738.61. Following the sale, the chief executive officer now directly owns 862,289 shares of the company’s stock, valued at approximately $10,511,302.91. This trade represents a 1.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Mineralys Therapeutics Stock Down 0.3 %

Shares of MLYS opened at $13.88 on Wednesday. The stock has a market cap of $871.46 million, a P/E ratio of -3.81 and a beta of -0.39. The business’s fifty day moving average is $12.36 and its 200 day moving average is $12.34. Mineralys Therapeutics, Inc. has a 12-month low of $8.24 and a 12-month high of $18.38.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02. On average, analysts expect that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Institutional Trading of Mineralys Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Mineralys Therapeutics by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 213,599 shares of the company’s stock valued at $2,587,000 after buying an additional 9,664 shares during the last quarter. State Street Corp boosted its holdings in Mineralys Therapeutics by 4.0% during the 3rd quarter. State Street Corp now owns 483,766 shares of the company’s stock worth $5,858,000 after acquiring an additional 18,627 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Mineralys Therapeutics in the 3rd quarter worth $775,000. Barclays PLC raised its holdings in shares of Mineralys Therapeutics by 281.8% in the third quarter. Barclays PLC now owns 38,218 shares of the company’s stock valued at $463,000 after purchasing an additional 28,208 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Mineralys Therapeutics by 6.6% in the third quarter. Geode Capital Management LLC now owns 620,853 shares of the company’s stock valued at $7,520,000 after purchasing an additional 38,527 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MLYS shares. Guggenheim reissued a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th. The Goldman Sachs Group cut their price objective on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, HC Wainwright boosted their target price on Mineralys Therapeutics from $30.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, April 2nd.

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.