Mineralys Therapeutics (NASDAQ:MLYS) Trading Up 4% – Here’s Why

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) shot up 4% during trading on Friday . The stock traded as high as $13.43 and last traded at $13.39. 9,138 shares were traded during trading, a decline of 95% from the average session volume of 180,039 shares. The stock had previously closed at $12.87.

Analysts Set New Price Targets

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

Mineralys Therapeutics Stock Performance

The firm has a 50-day moving average of $12.97 and a 200-day moving average of $12.54. The firm has a market capitalization of $638.04 million, a P/E ratio of -3.92 and a beta of 1.55.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Monday, November 11th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.30). During the same quarter in the previous year, the company earned ($0.57) earnings per share. On average, research analysts forecast that Mineralys Therapeutics, Inc. will post -3.63 EPS for the current fiscal year.

Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 25,482 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $15.03, for a total transaction of $382,994.46. Following the completion of the sale, the insider now directly owns 135,974 shares in the company, valued at approximately $2,043,689.22. The trade was a 15.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jon Congleton sold 15,271 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $13.52, for a total value of $206,463.92. Following the transaction, the chief executive officer now directly owns 895,941 shares in the company, valued at $12,113,122.32. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,510 shares of company stock worth $735,431. Company insiders own 33.24% of the company’s stock.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of large investors have recently made changes to their positions in MLYS. SG Americas Securities LLC bought a new position in shares of Mineralys Therapeutics in the 3rd quarter worth approximately $110,000. China Universal Asset Management Co. Ltd. grew its position in Mineralys Therapeutics by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock valued at $116,000 after buying an additional 3,732 shares during the period. Federated Hermes Inc. increased its holdings in Mineralys Therapeutics by 100.0% during the second quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock valued at $140,000 after buying an additional 6,000 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Mineralys Therapeutics in the second quarter worth approximately $145,000. Finally, PDT Partners LLC purchased a new position in shares of Mineralys Therapeutics during the 3rd quarter worth $148,000. 84.46% of the stock is currently owned by institutional investors.

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.