Mineralys Therapeutics (NASDAQ:MLYS) Trading 3.4% Higher – Here’s What Happened

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) shares traded up 3.4% during mid-day trading on Thursday . The company traded as high as $13.75 and last traded at $13.56. 95,074 shares were traded during mid-day trading, a decline of 88% from the average session volume of 783,082 shares. The stock had previously closed at $13.11.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Mineralys Therapeutics in a report on Monday, March 10th. The Goldman Sachs Group reduced their target price on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Guggenheim restated a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, February 24th.

Mineralys Therapeutics Price Performance

The company has a fifty day moving average of $10.42 and a 200-day moving average of $11.94. The firm has a market capitalization of $710.16 million, a PE ratio of -3.91 and a beta of 1.50.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.02. Equities analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, CEO Jon Congleton sold 18,333 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $9.06, for a total transaction of $166,096.98. Following the transaction, the chief executive officer now directly owns 877,608 shares in the company, valued at $7,951,128.48. This trade represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were 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 in the company, valued at approximately $2,057,482.70. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 33.24% of the company’s stock.

Institutional Investors Weigh In On Mineralys Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in MLYS. BNP Paribas Financial Markets acquired a new stake in shares of Mineralys Therapeutics in the fourth quarter valued at about $48,000. ProShare Advisors LLC acquired a new stake in shares of Mineralys Therapeutics in the fourth quarter valued at about $128,000. China Universal Asset Management Co. Ltd. grew its position in shares of Mineralys Therapeutics by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company’s stock valued at $130,000 after purchasing an additional 989 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Mineralys Therapeutics in the fourth quarter valued at about $145,000. Finally, PDT Partners LLC acquired a new stake in shares of Mineralys Therapeutics in the third quarter valued at about $148,000. 84.46% of the stock is owned by institutional investors and hedge funds.

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.