Mineralys Therapeutics (NASDAQ:MLYS) Shares Up 6.1% - What's Next?

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) shot up 6.1% on Thursday . The stock traded as high as $10.55 and last traded at $10.62. 40,034 shares were traded during trading, a decline of 87% from the average session volume of 300,797 shares. The stock had previously closed at $10.01.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MLYS. Guggenheim reiterated a "buy" rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th. The Goldman Sachs Group reduced their price target on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Finally, HC Wainwright reissued a "buy" rating and set a $30.00 price target on shares of Mineralys Therapeutics in a report on Monday.

Mineralys Therapeutics Price Performance

The firm has a market cap of $745.55 million, a price-to-earnings ratio of -4.11 and a beta of 1.50. The firm's fifty day moving average is $10.31 and its two-hundred day moving average is $11.88.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.02. On average, equities analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

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Insider Buying and Selling

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of the business's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $9.10, for a total value of $97,888.70. Following the sale, the chief financial officer now directly owns 226,097 shares in the company, valued at approximately $2,057,482.70. The trade was a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jon Congleton sold 18,333 shares of the business's stock in a transaction dated Monday, January 13th. The stock was 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 approximately $7,951,128.48. This trade represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 33.24% of the company's stock.

Institutional Investors Weigh In On Mineralys Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new stake in Mineralys Therapeutics in the fourth quarter worth about $48,000. ProShare Advisors LLC bought a new stake in Mineralys Therapeutics in the fourth quarter worth about $128,000. China Universal Asset Management Co. Ltd. raised its position in 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 bought a new stake in Mineralys Therapeutics in the fourth quarter worth about $145,000. Finally, PDT Partners LLC bought a new stake in Mineralys Therapeutics in the third quarter worth about $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.