Mineralys Therapeutics (NASDAQ:MLYS) Hits New 12-Month High – What’s Next?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS)’s stock price reached a new 52-week high on Monday . The stock traded as high as $15.90 and last traded at $16.46, with a volume of 5671679 shares trading hands. The stock had previously closed at $10.52.

Analyst Upgrades and Downgrades

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

Mineralys Therapeutics Trading Down 4.4 %

The company has a 50 day moving average of $10.35 and a 200-day moving average of $11.90. The firm has a market capitalization of $712.65 million, a P/E ratio of -3.93 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, beating analysts’ consensus estimates of ($1.00) by $0.02. As a group, sell-side analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Insider Buying and Selling at Mineralys Therapeutics

In other news, CFO Adam Scott Levy sold 10,757 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $9.10, for a total transaction of $97,888.70. Following the transaction, the chief financial officer now directly owns 226,097 shares of the company’s stock, valued at $2,057,482.70. This represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jon Congleton sold 18,333 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $9.06, for a total value of $166,096.98. Following the completion of the sale, the chief executive officer now directly owns 877,608 shares of the company’s stock, valued at approximately $7,951,128.48. This trade represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 33.24% of the company’s stock.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets purchased a new position in Mineralys Therapeutics in the fourth quarter worth $48,000. ProShare Advisors LLC bought a new stake in shares of Mineralys Therapeutics during the 4th quarter worth $128,000. China Universal Asset Management Co. Ltd. grew its position in Mineralys Therapeutics by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company’s stock valued at $130,000 after buying an additional 989 shares during the period. Price T Rowe Associates Inc. MD purchased a new stake in Mineralys Therapeutics during the fourth quarter worth about $145,000. Finally, PDT Partners LLC bought a new stake in Mineralys Therapeutics in the third quarter worth about $148,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

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.