Mineralys Therapeutics (NASDAQ:MLYS) Trading Up 5.1% – Time to Buy?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) shares rose 5.1% on Wednesday . The stock traded as high as $10.34 and last traded at $10.37. Approximately 212,638 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 259,816 shares. The stock had previously closed at $9.86.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Mineralys Therapeutics in a research note on Tuesday, November 12th.

Mineralys Therapeutics Stock Up 0.3 %

The company has a 50 day simple moving average of $11.71 and a two-hundred day simple moving average of $12.27. The company has a market capitalization of $512.63 million, a P/E ratio of -3.15 and a beta of 1.49.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results on Monday, November 11th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.30). During the same period in the previous year, the firm posted ($0.57) earnings per share. As a group, research analysts expect that Mineralys Therapeutics, Inc. will post -3.63 EPS for the current fiscal year.

Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $9.10, for a total value of $97,888.70. Following the transaction, the chief financial officer now owns 226,097 shares of the company’s stock, valued at $2,057,482.70. This represents a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David Malcom Rodman sold 25,482 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $15.03, for a total value of $382,994.46. Following the completion of the sale, the insider now owns 135,974 shares in the company, valued at approximately $2,043,689.22. The trade was a 15.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,572 shares of company stock worth $646,980 over the last quarter. Insiders own 33.24% of the company’s stock.

Institutional Trading of Mineralys Therapeutics

A number of large investors have recently made changes to their positions in MLYS. SG Americas Securities LLC purchased a new position in Mineralys Therapeutics in the 3rd quarter worth about $110,000. China Universal Asset Management Co. Ltd. increased its position in shares of Mineralys Therapeutics by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock worth $116,000 after acquiring an additional 3,732 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of Mineralys Therapeutics during the second quarter worth approximately $145,000. PDT Partners LLC bought a new stake in shares of Mineralys Therapeutics during the third quarter valued at approximately $148,000. Finally, Martingale Asset Management L P purchased a new stake in shares of Mineralys Therapeutics in the third quarter valued at approximately $181,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.