Key Points
- Mineralys Therapeutics CEO Jon Congleton sold 75,000 shares on June 30 at an average price of $26.14, for proceeds of about $1.96 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Congleton still held 614,321 shares, valued at roughly $16.1 million, which was a 10.88% reduction in his position. He also sold 15,730 shares in an earlier trade on April 13.
- Mineralys recently reported a smaller-than-expected quarterly loss of $0.47 per share versus analyst expectations of $0.51, and analysts currently rate the stock a Moderate Buy with a consensus price target of $49.33.
Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) CEO Jon Congleton sold 75,000 shares of the business's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $26.14, for a total value of $1,960,500.00. Following the completion of the sale, the chief executive officer owned 614,321 shares in the company, valued at $16,058,350.94. This represents a 10.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Jon Congleton also recently made the following trade(s):
- On Monday, April 13th, Jon Congleton sold 15,730 shares of Mineralys Therapeutics stock. The shares were sold at an average price of $26.83, for a total value of $422,035.90.
Mineralys Therapeutics Price Performance
Shares of Mineralys Therapeutics stock opened at $26.98 on Wednesday. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -13.16 and a beta of 0.57. The business has a 50-day moving average of $27.19 and a 200 day moving average of $29.30. Mineralys Therapeutics, Inc. has a 12 month low of $12.59 and a 12 month high of $47.65.
Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.51) by $0.04. Equities research analysts anticipate that Mineralys Therapeutics, Inc. will post -2.3 earnings per share for the current year.
Institutional Investors Weigh In On Mineralys Therapeutics
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Seven Fleet Capital Management LP boosted its holdings in Mineralys Therapeutics by 65.5% in the first quarter. Seven Fleet Capital Management LP now owns 69,571 shares of the company's stock valued at $1,885,000 after purchasing an additional 27,546 shares in the last quarter. Bank of America Corp DE raised its holdings in Mineralys Therapeutics by 11.5% during the first quarter. Bank of America Corp DE now owns 1,100,372 shares of the company's stock worth $29,809,000 after purchasing an additional 113,092 shares in the last quarter. Stempoint Capital LP raised its holdings in Mineralys Therapeutics by 83.9% during the first quarter. Stempoint Capital LP now owns 533,378 shares of the company's stock worth $14,449,000 after purchasing an additional 243,329 shares in the last quarter. ADAR1 Capital Management LLC lifted its position in shares of Mineralys Therapeutics by 13.5% during the 1st quarter. ADAR1 Capital Management LLC now owns 154,686 shares of the company's stock worth $4,190,000 after buying an additional 18,455 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of Mineralys Therapeutics by 41.3% during the 1st quarter. California State Teachers Retirement System now owns 61,266 shares of the company's stock worth $1,660,000 after buying an additional 17,918 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.
Analysts Set New Price Targets
MLYS has been the topic of several recent research reports. Bank of America upped their target price 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. Jefferies Financial Group reissued a "hold" rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. HC Wainwright reaffirmed a "buy" rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. TD Cowen initiated coverage on Mineralys Therapeutics in a research note on Monday, April 27th. They issued a "buy" rating on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Mineralys Therapeutics in a research note on Tuesday, April 21st. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $49.33.
View Our Latest Research Report on MLYS
Mineralys Therapeutics Company Profile
(
Get Free Report)
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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