Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Director Purchases $17,499,996.00 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Director Ra Capital Management, L.P. acquired 1,296,296 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $13.50 per share, for a total transaction of $17,499,996.00. Following the transaction, the director now directly owns 4,280,051 shares of the company’s stock, valued at approximately $57,780,688.50. This trade represents a 43.45 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Mineralys Therapeutics Price Performance

Shares of MLYS opened at $16.75 on Thursday. The company has a 50-day simple moving average of $10.61 and a two-hundred day simple moving average of $12.00. The firm has a market capitalization of $1.05 billion, a PE ratio of -4.60 and a beta of 1.50. Mineralys Therapeutics, Inc. has a one year low of $8.24 and a one year high of $18.38.

Mineralys Therapeutics (NASDAQ:MLYS) last released its earnings results on Wednesday, February 12th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02. Analysts expect that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Analyst Ratings Changes

MLYS has been the topic of a number of research analyst reports. Guggenheim restated a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, February 24th. The Goldman Sachs Group reduced their target price on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Mineralys Therapeutics in a research note on Monday, March 10th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets bought a new stake in Mineralys Therapeutics in the fourth quarter worth $48,000. ProShare Advisors LLC bought a new position in Mineralys Therapeutics in the 4th quarter worth about $128,000. China Universal Asset Management Co. Ltd. grew its position in Mineralys Therapeutics by 10.3% during the 4th 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 bought a new stake in Mineralys Therapeutics during the 4th quarter valued at about $145,000. Finally, PDT Partners LLC purchased a new position in Mineralys Therapeutics in the third quarter worth about $148,000. 84.46% of the stock is currently owned by 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.