Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Short Interest Up 112.2% in March

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 4,710,000 shares, an increase of 112.2% from the March 15th total of 2,220,000 shares. Based on an average daily volume of 1,020,000 shares, the days-to-cover ratio is currently 4.6 days. Currently, 12.7% of the company's shares are sold short.

Mineralys Therapeutics Price Performance

MLYS traded down $0.15 during trading hours on Friday, hitting $13.35. 382,306 shares of the stock were exchanged, compared to its average volume of 416,447. The stock has a market cap of $866.09 million, a price-to-earnings ratio of -3.67 and a beta of -0.39. Mineralys Therapeutics has a 12 month low of $8.24 and a 12 month high of $18.38. The stock has a 50-day simple moving average of $12.59 and a 200-day simple moving average of $12.36.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its quarterly earnings data 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. Sell-side analysts expect that Mineralys Therapeutics will post -4.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Guggenheim reiterated a "buy" rating on shares of Mineralys Therapeutics in a report on Monday, February 24th. HC Wainwright upped their price objective on shares of Mineralys Therapeutics from $30.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday, April 2nd. Finally, The Goldman Sachs Group dropped their target price on Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th.

Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, major shareholder Samsara Biocapital Gp, Llc acquired 600,000 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was bought 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 approximately $76,611,366. The trade was a 11.82 % 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 hyperlink. Also, Director Ra Capital Management, L.P. bought 1,296,296 shares of Mineralys Therapeutics stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $13.50 per share, for a total transaction of $17,499,996.00. Following the acquisition, the director now directly owns 4,280,051 shares in the company, valued at approximately $57,780,688.50. This represents a 43.45 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 93,213 shares of company stock worth $1,360,567 in the last quarter. 33.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new stake in shares of Mineralys Therapeutics in the 4th quarter worth about $48,000. GAMMA Investing LLC raised its holdings in shares of Mineralys Therapeutics by 9,602.2% during the first quarter. GAMMA Investing LLC now owns 8,829 shares of the company's stock valued at $140,000 after buying an additional 8,738 shares during the last quarter. ProShare Advisors LLC acquired a new position in shares of Mineralys Therapeutics during the fourth quarter worth approximately $128,000. China Universal Asset Management Co. Ltd. grew its holdings 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 worth $130,000 after buying an additional 989 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new stake in Mineralys Therapeutics in the 4th quarter valued at approximately $145,000. 84.46% of the stock is currently owned by 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.