Insider Buying: Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Major Shareholder Buys 600,000 Shares

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) major shareholder Samsara Biocapital Gp, Llc acquired 600,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $13.50 per share, with a total value of $8,100,000.00. Following the completion of the transaction, the insider now directly owns 5,674,916 shares of the company's stock, valued at $76,611,366. This trade represents a 11.82 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Mineralys Therapeutics Trading Up 0.8 %

Shares of NASDAQ:MLYS traded up $0.14 during trading on Friday, reaching $16.87. The company had a trading volume of 831,834 shares, compared to its average volume of 324,403. Mineralys Therapeutics, Inc. has a 12 month low of $8.24 and a 12 month high of $18.38. The stock has a market capitalization of $1.06 billion, a P/E ratio of -4.63 and a beta of 1.50. The company has a fifty day moving average of $10.72 and a two-hundred day moving average of $12.03.

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

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Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price target on shares of Mineralys Therapeutics in a report on Monday, March 10th. Guggenheim restated a "buy" rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th. Finally, The Goldman Sachs Group lowered their price target on Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating on the stock in a report on Thursday, February 13th.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of large investors have recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new stake in Mineralys Therapeutics in the fourth quarter worth approximately $48,000. ProShare Advisors LLC bought a new stake in shares of Mineralys Therapeutics in the 4th quarter worth approximately $128,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of 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 purchasing an additional 989 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of Mineralys Therapeutics in the 4th quarter valued at $145,000. Finally, PDT Partners LLC bought a new position in shares of Mineralys Therapeutics during the 3rd quarter valued at $148,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

About Mineralys Therapeutics

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.