Mineralys Therapeutics (NASDAQ:MLYS) Stock Price Up 6.1% – Here’s What Happened

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) rose 6.1% on Thursday . The stock traded as high as $10.55 and last traded at $10.62. Approximately 40,034 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 300,797 shares. The stock had previously closed at $10.01.

Analyst Upgrades and Downgrades

MLYS has been the subject of several recent research reports. The Goldman Sachs Group decreased their price objective on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, February 13th. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Mineralys Therapeutics in a report on Thursday, February 13th. Finally, Guggenheim restated a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, February 24th.

Mineralys Therapeutics Price Performance

The firm has a market capitalization of $524.27 million, a P/E ratio of -2.89 and a beta of 1.50. The stock’s fifty day simple moving average is $10.26 and its 200 day simple moving average is $11.84.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results on Wednesday, February 12th. The company reported ($0.98) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.02. As a group, sell-side analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jon Congleton sold 18,333 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $9.06, for a total value of $166,096.98. Following the sale, the chief executive officer now owns 877,608 shares in the company, valued at $7,951,128.48. This represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Adam Scott Levy sold 10,757 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $9.10, for a total value of $97,888.70. Following the completion of the sale, the chief financial officer now owns 226,097 shares in the company, valued at approximately $2,057,482.70. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 33.24% of the company’s stock.

Institutional Investors Weigh In On Mineralys Therapeutics

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new stake in Mineralys Therapeutics in the fourth quarter valued at approximately $48,000. ProShare Advisors LLC purchased a new stake in Mineralys Therapeutics in the 4th quarter worth approximately $128,000. China Universal Asset Management Co. Ltd. boosted its position in Mineralys Therapeutics by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company’s stock worth $130,000 after purchasing an additional 989 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Mineralys Therapeutics in the 4th quarter worth approximately $145,000. Finally, PDT Partners LLC purchased a new stake in Mineralys Therapeutics in the 3rd quarter worth approximately $148,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

About Mineralys Therapeutics

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.