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

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) 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 traded.

Wall Street Analyst Weigh In

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

Mineralys Therapeutics Stock Performance

The firm’s 50 day moving average price is $12.58 and its two-hundred day moving average price is $12.96. The company has a market cap of $483.08 million, a P/E ratio of -4.92 and a beta of 1.93.

Insiders Place Their Bets

In other news, CEO Jon Congleton sold 16,607 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $12.77, for a total value of $212,071.39. Following the completion of the sale, the chief executive officer now directly owns 1,032,461 shares in the company, valued at approximately $13,184,526.97. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $13.14, for a total value of $141,346.98. Following the completion of the sale, the chief financial officer now owns 247,611 shares of the company’s stock, valued at approximately $3,253,608.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jon Congleton sold 16,607 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $12.77, for a total transaction of $212,071.39. Following the sale, the chief executive officer now owns 1,032,461 shares of the company’s stock, valued at approximately $13,184,526.97. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 706,679 shares of company stock worth $9,204,818. 33.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in shares of Mineralys Therapeutics by 17,821.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,122 shares of the company’s stock worth $35,000 after acquiring an additional 4,099 shares during the last quarter. CWM LLC increased its holdings in Mineralys Therapeutics by 120.0% during the 4th 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. SG Americas Securities LLC purchased a new stake in shares of Mineralys Therapeutics in the fourth quarter worth approximately $87,000. CreativeOne Wealth LLC bought a new position in shares of Mineralys Therapeutics in the fourth quarter valued at approximately $92,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Mineralys Therapeutics by 67.0% during the first quarter. China Universal Asset Management Co. Ltd. now owns 7,931 shares of the company’s stock valued at $102,000 after buying an additional 3,181 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

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.