Mineralys Therapeutics (NASDAQ:MLYS) Trading 2.2% Higher - Time to Buy?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) shares traded up 2.2% during mid-day trading on Monday . The stock traded as high as $14.85 and last traded at $14.98. 87,485 shares were traded during trading, a decline of 75% from the average session volume of 350,983 shares. The stock had previously closed at $14.66.

Analyst Upgrades and Downgrades

A number of analysts have commented on MLYS shares. HC Wainwright raised their price objective on Mineralys Therapeutics from $30.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday. Guggenheim reiterated a "buy" rating on shares of Mineralys Therapeutics in a research report on Monday, February 24th. Finally, The Goldman Sachs Group cut their price objective on Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating for the company in a report on Thursday, February 13th.

Mineralys Therapeutics Trading Down 8.4 %

The firm has a fifty day moving average price of $11.85 and a 200 day moving average price of $12.27. The firm has a market capitalization of $778.53 million, a price-to-earnings ratio of -3.41 and a beta of -0.39.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its 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 analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

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Insider Activity

In other news, CEO Jon Congleton sold 18,333 shares of Mineralys Therapeutics stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $9.06, for a total transaction of $166,096.98. Following the completion of the sale, the chief executive officer now owns 877,608 shares in the company, valued at $7,951,128.48. The trade was a 2.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Samsara Biocapital Gp, Llc acquired 600,000 shares of Mineralys Therapeutics stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $13.50 per share, for a total transaction of $8,100,000.00. Following the completion of the purchase, the insider now 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 position. The disclosure for this purchase can be found here. Insiders have sold 84,861 shares of company stock valued at $1,142,937 over the last three months. 33.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new stake in shares of Mineralys Therapeutics in the 4th quarter valued at about $48,000. ProShare Advisors LLC bought a new stake in shares of Mineralys Therapeutics in the fourth quarter worth about $128,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Mineralys Therapeutics by 10.3% during 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 bought a new position in Mineralys Therapeutics in the fourth quarter valued at approximately $145,000. Finally, PDT Partners LLC acquired a new position in shares of Mineralys Therapeutics in the third quarter valued at approximately $148,000. 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.