Mineralys Therapeutics (NASDAQ:MLYS) Shares Up 5.1% – What’s Next?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS)’s stock price shot up 5.1% during trading on Wednesday . The stock traded as high as $10.34 and last traded at $10.37. 212,638 shares changed hands during trading, a decline of 18% from the average session volume of 259,816 shares. The stock had previously closed at $9.86.

Wall Street Analysts Forecast Growth

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 Price Performance

The firm has a market capitalization of $516.26 million, a PE ratio of -3.17 and a beta of 1.49. The stock has a 50-day moving average price of $11.79 and a 200-day moving average price of $12.30.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results on Monday, November 11th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.30). During the same quarter in the prior year, the business earned ($0.57) earnings per share. As a group, equities research analysts predict that Mineralys Therapeutics, Inc. will post -3.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 25,482 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $15.03, for a total transaction of $382,994.46. Following the transaction, the insider now owns 135,974 shares of the company’s stock, valued at $2,043,689.22. This trade represents a 15.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $9.10, for a total value of $97,888.70. Following the completion of the transaction, the chief financial officer now owns 226,097 shares of the company’s stock, valued at approximately $2,057,482.70. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,572 shares of company stock worth $646,980 in the last ninety days. 33.24% of the stock is owned by insiders.

Institutional Trading of Mineralys Therapeutics

Several institutional investors have recently added to or reduced their stakes in MLYS. Jennison Associates LLC boosted its holdings in shares of Mineralys Therapeutics by 55.4% in the 4th quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock valued at $13,319,000 after buying an additional 385,726 shares during the period. Franklin Resources Inc. boosted its stake in Mineralys Therapeutics by 17.7% in the third quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company’s stock valued at $21,138,000 after acquiring an additional 262,922 shares during the period. Caligan Partners LP grew its holdings in shares of Mineralys Therapeutics by 31.6% during the third quarter. Caligan Partners LP now owns 981,155 shares of the company’s stock valued at $11,882,000 after purchasing an additional 235,397 shares during the last quarter. Nantahala Capital Management LLC raised its position in shares of Mineralys Therapeutics by 60.1% during the 2nd quarter. Nantahala Capital Management LLC now owns 532,506 shares of the company’s stock worth $6,230,000 after purchasing an additional 200,000 shares during the period. Finally, Ikarian Capital LLC bought a new stake in shares of Mineralys Therapeutics in the 3rd quarter worth approximately $2,180,000. 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.