Mineralys Therapeutics (NASDAQ:MLYS) Shares Gap Up – Here’s What Happened

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) gapped up prior to trading on Tuesday . The stock had previously closed at $15.88, but opened at $16.45. Mineralys Therapeutics shares last traded at $14.68, with a volume of 337,002 shares trading hands.

Wall Street Analyst Weigh In

MLYS has been the topic of a number of analyst reports. HC Wainwright raised their price objective on shares of Mineralys Therapeutics from $30.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday. The Goldman Sachs Group dropped their price objective on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Guggenheim restated a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th.

Mineralys Therapeutics Trading Up 1.2 %

The stock has a market cap of $878.99 million, a price-to-earnings ratio of -3.85 and a beta of 1.50. The firm’s 50 day moving average is $11.78 and its two-hundred day moving average is $12.26.

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

Insider Activity at Mineralys Therapeutics

In related news, major shareholder Samsara Biocapital Gp, Llc acquired 600,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $13.50 per share, for a total transaction of $8,100,000.00. Following the completion of the acquisition, the insider now directly owns 5,674,916 shares of the company’s stock, valued at approximately $76,611,366. The trade was a 11.82 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $9.10, for a total value of $97,888.70. Following the transaction, the chief financial officer now directly owns 226,097 shares in the company, valued at approximately $2,057,482.70. The trade was a 4.54 % decrease in their ownership of the stock. 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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MLYS. BNP Paribas Financial Markets bought a new stake in Mineralys Therapeutics in the fourth quarter worth $48,000. ProShare Advisors LLC acquired a new position in Mineralys Therapeutics in the fourth quarter worth about $128,000. China Universal Asset Management Co. Ltd. boosted its stake 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 valued at $130,000 after buying an additional 989 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Mineralys Therapeutics in the 4th quarter valued at $145,000. Finally, PDT Partners LLC bought a new stake in Mineralys Therapeutics during the third quarter worth about $148,000. 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.