Key Points
- CEO Jon Congleton sold 75,000 Mineralys shares at an average price of $25.46, generating approximately $1.91 million. The Rule 10b5-1 transaction reduced his direct holdings by 12.43% to 528,621 shares.
- MLYS opened at $23.63, near the lower end of its 52-week range, while the company reported a quarterly loss of $2.85 per share—well below the $0.55 loss analysts expected.
- Despite mixed analyst views, the stock carries a consensus “Moderate Buy” rating with an average price target of $48.80; institutional investors own 84.46% of outstanding shares.
Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) CEO Jon Congleton sold 75,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $25.46, for a total transaction of $1,909,500.00. Following the sale, the chief executive officer directly owned 528,621 shares of the company's stock, valued at approximately $13,458,690.66. This trade represents a 12.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Mineralys Therapeutics Stock Performance
NASDAQ:MLYS opened at $23.63 on Friday. The company has a quick ratio of 34.46, a current ratio of 34.46 and a debt-to-equity ratio of 0.18. Mineralys Therapeutics, Inc. has a twelve month low of $22.30 and a twelve month high of $47.65. The company has a fifty day moving average of $26.89 and a 200-day moving average of $26.99. The firm has a market capitalization of $2.09 billion, a P/E ratio of -5.57 and a beta of 0.69.
Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($2.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($2.30). As a group, sell-side analysts anticipate that Mineralys Therapeutics, Inc. will post -4.45 EPS for the current year.
Institutional Trading of Mineralys Therapeutics
Several institutional investors and hedge funds have recently modified their holdings of the stock. Timothy G. Youngquist 2020 Irrevocable Trust purchased a new position in shares of Mineralys Therapeutics during the second quarter valued at approximately $2,721,000. Man Group plc bought a new stake in Mineralys Therapeutics during the second quarter worth $1,609,000. TimesSquare Capital Management LLC purchased a new stake in Mineralys Therapeutics in the 2nd quarter valued at $6,363,000. Bank of America Corp DE raised its position in Mineralys Therapeutics by 11.5% in the 1st quarter. Bank of America Corp DE now owns 1,100,372 shares of the company's stock valued at $29,809,000 after buying an additional 113,092 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Mineralys Therapeutics during the 2nd quarter valued at $1,387,000. 84.46% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts recently issued reports on MLYS shares. Zacks Research raised shares of Mineralys Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Friday, September 11th. Wall Street Zen downgraded shares of Mineralys Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Mineralys Therapeutics in a research note on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $48.80.
Read Our Latest Report on MLYS
About Mineralys Therapeutics
(
Get Free Report)
Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for hypertension and other cardiovascular and kidney-related conditions associated with excess aldosterone activity. The company is headquartered in Radnor, Pennsylvania.
Mineralys' lead product candidate is lorundrostat, an oral, highly selective aldosterone synthase inhibitor designed to reduce the production of aldosterone. The company is evaluating lorundrostat as a potential treatment for uncontrolled or resistant hypertension, including hypertension linked to abnormal activation of the renin-angiotensin-aldosterone system.
Mineralys was established to advance therapies targeting aldosterone-driven disease and became a publicly traded company on the Nasdaq exchange in 2023.
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