Jon Congleton Sells 15,319 Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) CEO Jon Congleton sold 15,319 shares of the firm’s stock in a transaction dated Friday, April 11th. The shares were 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 in the company, valued at approximately $10,511,302.91. The trade was a 1.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Mineralys Therapeutics Price Performance

Shares of MLYS traded down $0.04 on Tuesday, reaching $13.88. The company’s stock had a trading volume of 440,438 shares, compared to its average volume of 413,614. The stock’s 50 day simple moving average is $12.29 and its two-hundred day simple moving average is $12.33. The stock has a market capitalization of $871.46 million, a P/E ratio of -3.81 and a beta of -0.39. 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 results on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.02. Analysts expect that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Mineralys Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in Mineralys Therapeutics by 9,602.2% in the first quarter. GAMMA Investing LLC now owns 8,829 shares of the company’s stock worth $140,000 after buying an additional 8,738 shares in the last quarter. Wellington Management Group LLP increased its holdings in Mineralys Therapeutics by 43.0% in the 4th quarter. Wellington Management Group LLP now owns 91,529 shares of the company’s stock worth $1,127,000 after acquiring an additional 27,531 shares in the last quarter. Polar Asset Management Partners Inc. raised its stake in Mineralys Therapeutics by 144.7% during the 4th quarter. Polar Asset Management Partners Inc. now owns 99,100 shares of the company’s stock worth $1,220,000 after acquiring an additional 58,600 shares during the period. Tema Etfs LLC purchased a new position in Mineralys Therapeutics during the fourth quarter valued at approximately $1,102,000. Finally, Stempoint Capital LP bought a new position in shares of Mineralys Therapeutics in the fourth quarter worth approximately $4,925,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

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.