Mineralys Therapeutics (NASDAQ:MLYS) Shares Gap Up to $11.69

Mineralys Therapeutics, Inc. (NASDAQ:MLYS)’s share price gapped up before the market opened on Friday . The stock had previously closed at $11.69, but opened at $12.04. Mineralys Therapeutics shares last traded at $12.10, with a volume of 52,969 shares changing hands.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Mineralys Therapeutics in a research note on Thursday, August 15th.

Mineralys Therapeutics Trading Down 3.5 %

The stock has a 50-day moving average price of $12.07 and a two-hundred day moving average price of $12.50. The stock has a market cap of $579.90 million, a price-to-earnings ratio of -5.53 and a beta of 1.93.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.10). During the same quarter last year, the firm posted ($0.31) earnings per share. Research analysts predict that Mineralys Therapeutics, Inc. will post -3.08 earnings per share for the current fiscal year.

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, Director Brian Taylor Slingsby sold 550,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $13.05, for a total value of $7,177,500.00. Following the sale, the director now directly owns 8,644,579 shares in the company, valued at $112,811,755.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Mineralys Therapeutics news, Director Brian Taylor Slingsby sold 550,000 shares of Mineralys Therapeutics stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $13.05, for a total value of $7,177,500.00. Following the sale, the director now owns 8,644,579 shares of the company’s stock, valued at approximately $112,811,755.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jon Congleton sold 15,746 shares of Mineralys Therapeutics stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $13.34, for a total value of $210,051.64. Following the completion of the sale, the chief executive officer now directly owns 911,212 shares in the company, valued at approximately $12,155,568.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 577,028 shares of company stock worth $7,536,774. Insiders own 33.24% of the company’s stock.

Institutional Trading of Mineralys Therapeutics

Several institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in Mineralys Therapeutics by 17,821.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,122 shares of the company’s stock worth $35,000 after acquiring an additional 4,099 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in Mineralys Therapeutics by 67.0% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 7,931 shares of the company’s stock worth $102,000 after buying an additional 3,181 shares in the last quarter. Bellevue Group AG purchased a new stake in Mineralys Therapeutics in the 1st quarter worth approximately $119,000. CreativeOne Wealth LLC purchased a new stake in Mineralys Therapeutics in the 4th quarter worth approximately $92,000. Finally, Federated Hermes Inc. raised its holdings in shares of Mineralys Therapeutics by 100.0% during the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock valued at $140,000 after purchasing an additional 6,000 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other 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.