Insider Buying: Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Director Buys 1,296,296 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Director Ra Capital Management, L.P. purchased 1,296,296 shares of Mineralys Therapeutics stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $13.50 per share, with a total value of $17,499,996.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Mineralys Therapeutics Price Performance

Shares of Mineralys Therapeutics stock opened at $16.75 on Thursday. The stock 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 1-year low of $8.24 and a 1-year high of $18.38. The company’s fifty day simple moving average is $10.61 and its 200-day simple moving average is $12.00.

Mineralys Therapeutics (NASDAQ:MLYS) last released its earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($1.00) by $0.02. As a group, research analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Guggenheim reissued a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, February 24th. 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. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Mineralys Therapeutics in a research report on Monday, March 10th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MLYS. Jennison Associates LLC boosted its position in shares of Mineralys Therapeutics by 1.9% in the third quarter. Jennison Associates LLC now owns 696,280 shares of the company’s stock worth $8,432,000 after purchasing an additional 13,023 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Mineralys Therapeutics by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 213,599 shares of the company’s stock valued at $2,587,000 after buying an additional 9,664 shares in the last quarter. FMR LLC boosted its holdings in Mineralys Therapeutics by 12.0% in the 3rd quarter. FMR LLC now owns 303,758 shares of the company’s stock worth $3,679,000 after buying an additional 32,663 shares during the period. Martingale Asset Management L P bought a new stake in Mineralys Therapeutics during the third quarter valued at about $181,000. Finally, Verition Fund Management LLC lifted its position in shares of Mineralys Therapeutics by 30.6% in the third quarter. Verition Fund Management LLC now owns 27,361 shares of the company’s stock valued at $331,000 after acquiring an additional 6,408 shares in the last quarter. 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.