Mineralys Therapeutics (NASDAQ:MLYS) Trading 3% Higher - What's Next?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report)'s share price was up 3% during trading on Friday . The company traded as high as $12.19 and last traded at $12.19. Approximately 36,993 shares traded hands during trading, a decline of 79% from the average daily volume of 177,035 shares. The stock had previously closed at $11.83.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price objective on shares of Mineralys Therapeutics in a research note on Tuesday, November 12th.

Mineralys Therapeutics Trading Up 4.3 %

The business's 50 day simple moving average is $13.12 and its 200 day simple moving average is $12.57. The firm has a market capitalization of $614.15 million, a PE ratio of -3.77 and a beta of 1.55.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its quarterly earnings results on Monday, November 11th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.30). During the same period in the prior year, the firm posted ($0.57) earnings per share. Analysts forecast that Mineralys Therapeutics, Inc. will post -3.63 earnings per share for the current year.

Insider Activity

In related news, insider David Malcom Rodman sold 25,482 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $15.03, for a total transaction of $382,994.46. Following the transaction, the insider now directly owns 135,974 shares in the company, valued at approximately $2,043,689.22. This represents a 15.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Adam Scott Levy sold 10,757 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $13.57, for a total transaction of $145,972.49. Following the completion of the sale, the chief financial officer now directly owns 236,854 shares in the company, valued at $3,214,108.78. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,510 shares of company stock valued at $735,431. 33.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

Large investors have recently bought and sold shares of the business. Polar Asset Management Partners Inc. bought a new stake in shares of Mineralys Therapeutics during the third quarter worth $490,000. Driehaus Capital Management LLC increased its stake in Mineralys Therapeutics by 40.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 257,371 shares of the company's stock worth $3,011,000 after buying an additional 74,074 shares during the period. Nantahala Capital Management LLC lifted its holdings in Mineralys Therapeutics by 60.1% during the 2nd quarter. Nantahala Capital Management LLC now owns 532,506 shares of the company's stock valued at $6,230,000 after buying an additional 200,000 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Mineralys Therapeutics in the 2nd quarter valued at about $145,000. Finally, Caligan Partners LP increased its position 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 worth $11,882,000 after acquiring an additional 235,397 shares during the period. Hedge funds and other 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.