Mineralys Therapeutics (NASDAQ:MLYS) Shares Gap Down to $11.83

Mineralys Therapeutics, Inc. (NASDAQ:MLYS)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $11.83, but opened at $11.16. Mineralys Therapeutics shares last traded at $10.74, with a volume of 20,530 shares.

Analyst Ratings Changes

Separately, HC Wainwright started coverage on shares of Mineralys Therapeutics in a research note on Wednesday, July 10th. They set a “buy” rating and a $30.00 target price on the stock.

Mineralys Therapeutics Stock Performance

The stock has a market capitalization of $483.08 million, a PE ratio of -4.92 and a beta of 1.93. The firm has a 50 day moving average of $12.58 and a 200-day moving average of $12.96.

Insider Activity

In other Mineralys Therapeutics news, CEO Jon Congleton sold 16,229 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $12.52, for a total value of $203,187.08. Following the transaction, the chief executive officer now owns 976,271 shares in the company, valued at approximately $12,222,912.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Mineralys Therapeutics news, Director Brian Taylor Slingsby sold 550,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 8,644,579 shares of the company’s stock, valued at approximately $112,811,755.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jon Congleton sold 16,229 shares of Mineralys Therapeutics stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $12.52, for a total value of $203,187.08. Following the sale, the chief executive officer now owns 976,271 shares of the company’s stock, valued at $12,222,912.92. The disclosure for this sale can be found here. Insiders have sold 706,679 shares of company stock worth $9,204,818 in the last 90 days. Company insiders own 33.24% of the company’s stock.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of hedge funds have recently added to or reduced their stakes in MLYS. SG Americas Securities LLC acquired a new stake in Mineralys Therapeutics in the fourth quarter valued at approximately $87,000. Cornercap Investment Counsel Inc. acquired a new stake in shares of Mineralys Therapeutics in the 4th quarter valued at $191,000. CWM LLC boosted its holdings in Mineralys Therapeutics by 120.0% in the fourth quarter. CWM LLC now owns 5,891 shares of the company’s stock worth $51,000 after purchasing an additional 3,213 shares in the last quarter. CreativeOne Wealth LLC acquired a new position in Mineralys Therapeutics during the fourth quarter worth $92,000. Finally, Franklin Resources Inc. raised its holdings in Mineralys Therapeutics by 55.4% during the fourth quarter. Franklin Resources Inc. now owns 699,467 shares of the company’s stock valued at $6,015,000 after buying an additional 249,450 shares in the last quarter. Institutional investors and hedge funds 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.