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

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

Analyst Ratings Changes

A number of research firms recently weighed in on MLYS. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Mineralys Therapeutics in a research report on Monday, March 10th. Guggenheim reissued a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, February 24th. Finally, The Goldman Sachs Group decreased their price objective on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, February 13th.

Mineralys Therapeutics Stock Up 5.6 %

The business has a fifty day simple moving average of $10.42 and a two-hundred day simple moving average of $11.94. The company has a market capitalization of $710.16 million, a price-to-earnings ratio of -3.91 and a beta of 1.50.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02. As a group, equities analysts predict that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Mineralys Therapeutics

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MLYS. Franklin Resources Inc. grew its holdings in Mineralys Therapeutics by 17.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company’s stock worth $21,138,000 after acquiring an additional 262,922 shares during the period. Vanguard Group Inc. grew its holdings in Mineralys Therapeutics by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 1,432,042 shares of the company’s stock worth $17,628,000 after acquiring an additional 68,811 shares during the period. Millennium Management LLC grew its holdings in Mineralys Therapeutics by 1,015.8% during the 4th quarter. Millennium Management LLC now owns 1,101,674 shares of the company’s stock worth $13,562,000 after acquiring an additional 1,002,941 shares during the period. Jennison Associates LLC grew its holdings in Mineralys Therapeutics by 55.4% during the 4th quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock worth $13,319,000 after acquiring an additional 385,726 shares during the period. Finally, Caligan Partners LP grew its holdings in Mineralys Therapeutics by 3.1% during the 4th quarter. Caligan Partners LP now owns 1,011,155 shares of the company’s stock worth $12,447,000 after acquiring an additional 30,000 shares during the period. Institutional investors own 84.46% of the company’s stock.

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.