Mineralys Therapeutics CEO Jon Congleton sells $1.9m MLYS stock

Jon Congleton, CEO and Director of Mineralys Therapeutics, sold 75,000 shares of the company's stock on September 30, 2026, totaling around $1.9 million. The sales occurred at prices between $25.00 and $25.82 per share and were made under a pre-established trading plan. The sale coincides with MLYS stock trading near its 52-week low of $21.46, down significantly from its 52-week high of $47.65.

Analysts suggest the stock is overvalued at current levels, with InvestingPro offering 7 ProTips and comprehensive reports for the stock, along with over 1,400 US equities. After the transactions, Congleton still directly owns 528,621 shares of Mineralys Therapeutics common stock. Recently, the company reported a wider-than-expected loss for the second quarter of 2026, with an adjusted loss of $2.85 per share, surpassing analysts' expectations of $2.63 per share.

Despite this financial setback, Mineralys Therapeutics is increasing its spending in preparation for the potential launch of its hypertension drug, lorundrostat. The FDA has approved lorundrostat for review, with a possible commercial launch in late 2026 or early 2027 if approved. UBS has assigned a Neutral rating to Mineralys Therapeutics, setting a price target of $29.00, while H.C.

Wainwright has maintained a Buy rating at $56.00, citing new clinical data supporting the drug's potential in treating difficult hypertension cases.