Mineralys Therapeutics (NASDAQ:MLYS) Sees Large Volume Increase

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) saw unusually-high trading volume on Monday . Approximately 313,451 shares were traded during trading, an increase of 99% from the previous session’s volume of 157,511 shares.The stock last traded at $13.76 and had previously closed at $12.95.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Lifesci Capital reaffirmed an “outperform” rating on shares of Mineralys Therapeutics in a research note on Tuesday, March 26th. The Goldman Sachs Group assumed coverage on Mineralys Therapeutics in a research note on Tuesday, April 2nd. They set a “buy” rating and a $30.00 target price for the company.

Mineralys Therapeutics Trading Up 6.2 %

The firm has a market capitalization of $682.41 million, a P/E ratio of -6.88 and a beta of 2.05. The business’s fifty day moving average is $12.98 and its 200 day moving average is $10.57.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings results on Thursday, March 21st. The company reported ($0.61) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.85) by $0.24. As a group, sell-side analysts predict that Mineralys Therapeutics, Inc. will post -2.44 earnings per share for the current fiscal year.

Insider Transactions at Mineralys Therapeutics

In related news, major shareholder Samsara Biocapital Gp, Llc purchased 555,555 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average price of $13.50 per share, with a total value of $7,499,992.50. Following the purchase, the insider now owns 5,074,916 shares of the company’s stock, valued at approximately $68,511,366. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 33.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLYS. PNC Financial Services Group Inc. boosted its position in shares of Mineralys Therapeutics by 17,821.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,122 shares of the company’s stock worth $35,000 after buying an additional 4,099 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in Mineralys Therapeutics during the 4th quarter worth about $41,000. CWM LLC grew its stake in Mineralys Therapeutics by 120.0% during the 4th quarter. CWM LLC now owns 5,891 shares of the company’s stock valued at $51,000 after acquiring an additional 3,213 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Mineralys Therapeutics in the 4th quarter valued at about $87,000. Finally, CreativeOne Wealth LLC purchased a new stake in shares of Mineralys Therapeutics in the fourth quarter worth approximately $92,000. 84.46% of the stock is currently 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.