Mineralys Therapeutics (NASDAQ:MLYS) Shares Up 3% – Here’s Why

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) shares shot up 3% during trading on Friday . The company traded as high as $12.19 and last traded at $12.19. 36,993 shares were traded during mid-day trading, a decline of 79% from the average session volume of 177,035 shares. The stock had previously closed at $11.83.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Mineralys Therapeutics in a research note on Tuesday, November 12th.

Mineralys Therapeutics Trading Up 4.3 %

The stock has a market capitalization of $614.16 million, a P/E ratio of -3.77 and a beta of 1.55. The stock’s fifty day moving average price is $13.10 and its two-hundred day moving average price is $12.57.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings results on Monday, November 11th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.30). During the same quarter last year, the firm posted ($0.57) EPS. As a group, analysts expect that Mineralys Therapeutics, Inc. will post -3.63 earnings per share for the current fiscal year.

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $13.57, for a total transaction of $145,972.49. Following the completion of the sale, the chief financial officer now owns 236,854 shares of the company’s stock, valued at $3,214,108.78. This represents a 4.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jon Congleton sold 15,271 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $13.52, for a total transaction of $206,463.92. Following the completion of the sale, the chief executive officer now directly owns 895,941 shares in the company, valued at approximately $12,113,122.32. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,510 shares of company stock worth $735,431 in the last ninety days. 33.24% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MLYS. Bank of New York Mellon Corp grew its position in shares of Mineralys Therapeutics by 72.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 84,762 shares of the company’s stock worth $992,000 after buying an additional 35,634 shares during the last quarter. Rhumbline Advisers boosted its holdings in Mineralys Therapeutics by 82.1% in the second quarter. Rhumbline Advisers now owns 41,079 shares of the company’s stock valued at $481,000 after acquiring an additional 18,519 shares in the last quarter. American Century Companies Inc. increased its position in Mineralys Therapeutics by 3.2% during the 2nd quarter. American Century Companies Inc. now owns 743,140 shares of the company’s stock valued at $8,695,000 after purchasing an additional 23,170 shares during the period. Federated Hermes Inc. raised its holdings in Mineralys Therapeutics by 100.0% in the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock worth $140,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Mineralys Therapeutics by 95.0% in the 2nd quarter. Renaissance Technologies LLC now owns 61,800 shares of the company’s stock worth $723,000 after purchasing an additional 30,100 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.