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

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

Analysts Set New Price Targets

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

Mineralys Therapeutics Stock Up 1.7 %

The stock has a fifty day moving average of $13.12 and a 200-day moving average of $12.57. The stock has a market capitalization of $598.72 million, a price-to-earnings ratio of -3.68 and a beta of 1.55.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings results on Monday, November 11th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.30). During the same period in the prior year, the business earned ($0.57) earnings per share. On average, equities 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 news, CFO Adam Scott Levy sold 10,757 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $13.57, for a total transaction of $145,972.49. Following the completion of the transaction, the chief financial officer now directly owns 236,854 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, CEO Jon Congleton sold 15,271 shares of Mineralys Therapeutics stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 895,941 shares in the company, valued at approximately $12,113,122.32. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,510 shares of company stock worth $735,431. 33.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. increased its holdings in shares of Mineralys Therapeutics by 17.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company’s stock valued at $21,138,000 after purchasing an additional 262,922 shares in the last quarter. Barclays PLC grew its position in Mineralys Therapeutics by 281.8% during the third quarter. Barclays PLC now owns 38,218 shares of the company’s stock worth $463,000 after buying an additional 28,208 shares during the period. Geode Capital Management LLC increased its holdings in Mineralys Therapeutics by 6.6% in the third quarter. Geode Capital Management LLC now owns 620,853 shares of the company’s stock valued at $7,520,000 after buying an additional 38,527 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Mineralys Therapeutics during the 3rd quarter valued at approximately $775,000. Finally, State Street Corp boosted its stake in shares of Mineralys Therapeutics by 4.0% during the 3rd quarter. State Street Corp now owns 483,766 shares of the company’s stock worth $5,858,000 after acquiring an additional 18,627 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.