Mineralys Therapeutics Sees Unusually Large Options Volume (NASDAQ:MLYS)

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) was the recipient of some unusual options trading activity on Friday. Traders bought 92,406 put options on the company. This is an increase of 3,057% compared to the average volume of 2,927 put options.

Mineralys Therapeutics Stock Performance

Shares of MLYS stock traded up $1.26 during mid-day trading on Friday, reaching $29.47. The company’s stock had a trading volume of 393,703 shares, compared to its average volume of 1,151,463. The firm’s 50-day moving average is $35.13 and its two-hundred day moving average is $32.74. Mineralys Therapeutics has a 1-year low of $8.24 and a 1-year high of $47.65. The company has a market cap of $2.33 billion, a P/E ratio of -9.99 and a beta of 0.51.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results on Monday, November 10th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.14. Sell-side analysts anticipate that Mineralys Therapeutics will post -4.23 EPS for the current year.

Insider Transactions at Mineralys Therapeutics

In related news, CFO Adam Scott Levy sold 10,758 shares of the company’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $32.14, for a total value of $345,762.12. Following the completion of the sale, the chief financial officer owned 8,638 shares in the company, valued at $277,625.32. This represents a 55.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Taylor Slingsby sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $43.35, for a total transaction of $43,350,000.00. Following the sale, the director directly owned 7,903,838 shares in the company, valued at approximately $342,631,377.30. This represents a 11.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,686,955 shares of company stock worth $71,118,551. Insiders own 25.56% of the company’s stock.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. RA Capital Management L.P. lifted its holdings in Mineralys Therapeutics by 19.1% during the third quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company’s stock worth $277,717,000 after acquiring an additional 1,176,470 shares during the period. Vanguard Group Inc. raised its stake in shares of Mineralys Therapeutics by 11.1% during the 4th quarter. Vanguard Group Inc. now owns 3,352,880 shares of the company’s stock worth $121,676,000 after purchasing an additional 333,881 shares during the period. Caligan Partners LP grew its position in Mineralys Therapeutics by 37.4% during the third quarter. Caligan Partners LP now owns 2,772,654 shares of the company’s stock valued at $105,139,000 after buying an additional 755,302 shares during the period. Suvretta Capital Management LLC increased its holdings in Mineralys Therapeutics by 22.2% during the third quarter. Suvretta Capital Management LLC now owns 2,132,133 shares of the company’s stock worth $80,850,000 after buying an additional 387,641 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Mineralys Therapeutics by 0.3% in the third quarter. Franklin Resources Inc. now owns 1,809,768 shares of the company’s stock worth $68,626,000 after acquiring an additional 6,171 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

MLYS has been the topic of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Thursday, January 22nd. Stifel Nicolaus increased their price objective on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, December 19th. HC Wainwright boosted their target price on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Finally, Wells Fargo & Company increased their price objective on Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.43.

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. The company was formerly known as Catalys SC1, Inc and changed its name to Mineralys Therapeutics, Inc in May 2020. The company was incorporated in 2019 and is headquartered in Radnor, Pennsylvania.