Mineralys Therapeutics (NASDAQ:MLYS) Stock Price Up 4% - Here's What Happened

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) traded up 4% during mid-day trading on Friday . The company traded as high as $13.43 and last traded at $13.39. 9,138 shares traded hands during trading, a decline of 95% from the average session volume of 180,039 shares. The stock had previously closed at $12.87.

Wall Street Analyst Weigh In

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

Mineralys Therapeutics Price Performance

The firm has a market capitalization of $638.04 million, a PE ratio of -3.92 and a beta of 1.55. The firm's fifty day moving average is $12.97 and its two-hundred day moving average is $12.55.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its quarterly earnings results on Monday, November 11th. The company reported ($1.13) EPS for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.30). During the same period last year, the company posted ($0.57) earnings per share. As a group, equities research analysts predict that Mineralys Therapeutics, Inc. will post -3.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $13.57, for a total value of $145,972.49. Following the completion of the sale, the chief financial officer now owns 236,854 shares of the company's stock, valued at approximately $3,214,108.78. This trade represents a 4.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jon Congleton sold 15,271 shares of the company's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $13.52, for a total transaction of $206,463.92. Following the sale, the chief executive officer now directly owns 895,941 shares in the company, valued at approximately $12,113,122.32. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,510 shares of company stock valued at $735,431. Company insiders own 33.24% of the company's stock.

Institutional Trading of Mineralys Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in MLYS. Franklin Resources Inc. boosted its stake in Mineralys Therapeutics by 17.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company's stock worth $21,138,000 after purchasing an additional 262,922 shares during the period. Caligan Partners LP boosted its position in shares of Mineralys Therapeutics by 31.6% in the third quarter. Caligan Partners LP now owns 981,155 shares of the company's stock valued at $11,882,000 after acquiring an additional 235,397 shares during the period. American Century Companies Inc. grew its stake in Mineralys Therapeutics by 3.2% during the second quarter. American Century Companies Inc. now owns 743,140 shares of the company's stock valued at $8,695,000 after acquiring an additional 23,170 shares in the last quarter. Jennison Associates LLC increased its holdings in Mineralys Therapeutics by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 696,280 shares of the company's stock worth $8,432,000 after acquiring an additional 13,023 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Mineralys Therapeutics by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 620,853 shares of the company's stock worth $7,520,000 after acquiring an additional 38,527 shares during the period. 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.