Mineralys Therapeutics (NASDAQ:MLYS) Shares Up 6.3%

Mineralys Therapeutics, Inc. (NASDAQ:MLYS)’s stock price shot up 6.3% during trading on Friday . The stock traded as high as $14.43 and last traded at $14.43. 26,376 shares were traded during mid-day trading, a decline of 85% from the average session volume of 174,049 shares. The stock had previously closed at $13.57.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MLYS. Lifesci Capital restated an “outperform” rating on shares of Mineralys Therapeutics in a research note on Tuesday, March 26th. The Goldman Sachs Group initiated 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. Finally, HC Wainwright began coverage on shares of Mineralys Therapeutics in a research note on Wednesday. They issued a “buy” rating and a $30.00 price target on the stock.

Mineralys Therapeutics Trading Up 5.0 %

The stock has a fifty day simple moving average of $12.71 and a two-hundred day simple moving average of $12.30. The company has a market cap of $707.51 million, a PE ratio of -6.58 and a beta of 1.97.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.02). As a group, equities research analysts anticipate that Mineralys Therapeutics, Inc. will post -2.94 EPS for the current fiscal year.

Insider Buying and Selling at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 16,229 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $12.52, for a total value of $203,187.08. Following the completion of the transaction, the chief executive officer now directly owns 976,271 shares of the company’s stock, valued at approximately $12,222,912.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jon Congleton sold 16,229 shares of the business’s 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 directly owns 976,271 shares in the company, valued at approximately $12,222,912.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Adam Scott Levy sold 96,815 shares of Mineralys Therapeutics stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $12.94, for a total transaction of $1,252,786.10. Following the transaction, the chief financial officer now owns 255,462 shares of the company’s stock, valued at approximately $3,305,678.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 129,751 shares of company stock valued at $1,669,545. Corporate insiders own 33.24% of the company’s stock.

Institutional Trading of Mineralys Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MLYS. Catalys Pacific LLC acquired a new stake in shares of Mineralys Therapeutics during the 4th quarter worth about $79,073,000. RA Capital Management L.P. grew its stake in Mineralys Therapeutics by 52.6% in the 1st quarter. RA Capital Management L.P. now owns 4,850,984 shares of the company’s stock worth $62,626,000 after acquiring an additional 1,672,508 shares during the period. Affinity Asset Advisors LLC acquired a new position in Mineralys Therapeutics in the 1st quarter valued at $4,234,000. Franklin Resources Inc. lifted its stake in shares of Mineralys Therapeutics by 55.4% during the 4th quarter. Franklin Resources Inc. now owns 699,467 shares of the company’s stock worth $6,015,000 after purchasing an additional 249,450 shares during the period. Finally, SR One Capital Management LP boosted its holdings in shares of Mineralys Therapeutics by 12.4% during the first quarter. SR One Capital Management LP now owns 2,016,822 shares of the company’s stock worth $26,037,000 after purchasing an additional 222,222 shares during the last quarter. Hedge funds and other institutional investors 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.