Mineralys Therapeutics (NASDAQ:MLYS) Shares Up 3% – What’s Next?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) shot up 3% on Friday . The stock traded as high as $12.19 and last traded at $12.19. 36,993 shares traded hands during trading, a decline of 79% from the average session volume of 177,035 shares. The stock had previously closed at $11.83.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Mineralys Therapeutics in a report on Tuesday, November 12th.

Mineralys Therapeutics Stock Up 1.7 %

The company has a market cap of $598.72 million, a PE ratio of -3.68 and a beta of 1.55. The stock’s 50 day simple moving average is $13.12 and its two-hundred day simple moving average is $12.57.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data on Monday, November 11th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.30). During the same quarter last year, the business earned ($0.57) earnings per share. Analysts forecast that Mineralys Therapeutics, Inc. will post -3.63 EPS for the current year.

Insiders Place Their Bets

In related news, insider David Malcom Rodman sold 25,482 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $15.03, for a total transaction of $382,994.46. Following the completion of the sale, the insider now directly owns 135,974 shares of the company’s stock, valued at approximately $2,043,689.22. This represents a 15.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jon Congleton sold 15,271 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $13.52, for a total value of $206,463.92. Following the transaction, the chief executive officer now owns 895,941 shares in the company, valued at approximately $12,113,122.32. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,510 shares of company stock worth $735,431 over the last ninety days. 33.24% of the stock is owned by company insiders.

Institutional Trading of Mineralys Therapeutics

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Mineralys Therapeutics in the third quarter valued at $110,000. China Universal Asset Management Co. Ltd. boosted its position in Mineralys Therapeutics by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock valued at $116,000 after buying an additional 3,732 shares during the last quarter. Federated Hermes Inc. boosted its position in Mineralys Therapeutics by 100.0% in the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock valued at $140,000 after buying an additional 6,000 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Mineralys Therapeutics during the second quarter valued at about $145,000. Finally, PDT Partners LLC purchased a new stake in shares of Mineralys Therapeutics during the third quarter worth about $148,000. Institutional investors and hedge funds 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.