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 company’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $12.19, for a total value of $186,738.61. Following the completion of the sale, the chief executive officer now directly owns 862,289 shares in the company, valued at approximately $10,511,302.91. The trade was a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mineralys Therapeutics Trading Down 0.3 %

NASDAQ:MLYS traded down $0.04 during trading hours on Tuesday, reaching $13.88. 440,438 shares of the company traded hands, compared to its average volume of 413,614. Mineralys Therapeutics, Inc. has a 1 year low of $8.24 and a 1 year high of $18.38. The stock has a market capitalization of $871.46 million, a P/E ratio of -3.81 and a beta of -0.39. The business’s 50-day moving average price is $12.29 and its two-hundred day moving average price is $12.33.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.02. As a group, equities analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MLYS. BNP Paribas Financial Markets purchased a new stake in shares of Mineralys Therapeutics during the fourth quarter valued at approximately $48,000. ProShare Advisors LLC bought a new position in Mineralys Therapeutics in the 4th quarter valued at approximately $128,000. China Universal Asset Management Co. Ltd. boosted its stake in Mineralys Therapeutics by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company’s stock valued at $130,000 after purchasing an additional 989 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Mineralys Therapeutics by 9,602.2% in the 1st quarter. GAMMA Investing LLC now owns 8,829 shares of the company’s stock worth $140,000 after purchasing an additional 8,738 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of Mineralys Therapeutics in the 4th quarter worth $145,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on MLYS shares. HC Wainwright boosted their target price on shares of Mineralys Therapeutics from $30.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, April 2nd. The Goldman Sachs Group dropped 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 note on Thursday, February 13th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th.

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.