Insider Buying: Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Director Buys 1,296,296 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) Director Ra Capital Management, L.P. bought 1,296,296 shares of the company's stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $13.50 per share, with a total value of $17,499,996.00. Following the completion of the acquisition, the director now owns 4,280,051 shares in the company, valued at $57,780,688.50. This represents a 43.45 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Mineralys Therapeutics Stock Performance

Shares of Mineralys Therapeutics stock traded up $0.14 on Friday, reaching $16.87. The company had a trading volume of 831,834 shares, compared to its average volume of 324,403. The firm has a market cap of $1.06 billion, a PE ratio of -4.63 and a beta of 1.50. The firm's 50 day moving average price is $10.72 and its two-hundred day moving average price is $12.03. Mineralys Therapeutics, Inc. has a 52-week low of $8.24 and a 52-week high of $18.38.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.00) by $0.02. As a group, sell-side analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

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Analyst Upgrades and Downgrades

A number of brokerages have commented on MLYS. Guggenheim reaffirmed a "buy" rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th. HC Wainwright reissued a "buy" rating and set a $30.00 target price on shares of Mineralys Therapeutics in a research note on Monday, March 10th. Finally, The Goldman Sachs Group decreased their price target on Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th.

Institutional Trading of Mineralys Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new position in shares of Mineralys Therapeutics in the fourth quarter valued at approximately $48,000. ProShare Advisors LLC purchased a new position in Mineralys Therapeutics in the 4th quarter valued at approximately $128,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Mineralys Therapeutics by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company's stock worth $130,000 after acquiring an additional 989 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of Mineralys Therapeutics in the fourth quarter worth $145,000. Finally, PDT Partners LLC purchased a new stake in shares of Mineralys Therapeutics during the third quarter worth $148,000. 84.46% of the stock is currently owned by hedge funds and other 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.