Mineralys Therapeutics (NASDAQ:MLYS) Trading Up 3.4% - Here's What Happened

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) was up 3.4% during trading on Thursday . The company traded as high as $13.75 and last traded at $13.56. Approximately 95,074 shares were traded during trading, a decline of 88% from the average daily volume of 783,082 shares. The stock had previously closed at $13.11.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MLYS shares. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price objective on shares of Mineralys Therapeutics in a research note on Monday. The Goldman Sachs Group dropped their target price on Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Finally, Guggenheim reaffirmed a "buy" rating on shares of Mineralys Therapeutics in a research report on Monday, February 24th.

Mineralys Therapeutics Stock Performance

The company has a market capitalization of $665.36 million, a P/E ratio of -3.71 and a beta of 1.50. The company's fifty day simple moving average is $10.37 and its 200-day simple moving average is $11.91.

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

Insider Activity at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 18,333 shares of the company's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $9.06, for a total value of $166,096.98. Following the transaction, the chief executive officer now directly owns 877,608 shares of the company's stock, valued at $7,951,128.48. This represents a 2.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Adam Scott Levy sold 10,757 shares of the 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 completion of the transaction, the chief financial officer now directly owns 226,097 shares in the company, valued at $2,057,482.70. This represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 33.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Millennium Management LLC grew its stake in Mineralys Therapeutics by 1,015.8% in the 4th quarter. Millennium Management LLC now owns 1,101,674 shares of the company's stock valued at $13,562,000 after acquiring an additional 1,002,941 shares during the period. Integral Health Asset Management LLC raised its stake in Mineralys Therapeutics by 145.8% in the fourth quarter. Integral Health Asset Management LLC now owns 875,000 shares of the company's stock valued at $10,771,000 after buying an additional 519,000 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Mineralys Therapeutics by 2,251.5% during the fourth quarter. JPMorgan Chase & Co. now owns 503,590 shares of the company's stock worth $6,199,000 after acquiring an additional 482,174 shares during the last quarter. Stempoint Capital LP purchased a new position in shares of Mineralys Therapeutics in the 4th quarter valued at approximately $4,925,000. Finally, Jennison Associates LLC grew its position in Mineralys Therapeutics by 55.4% in the 4th quarter. Jennison Associates LLC now owns 1,082,006 shares of the company's stock valued at $13,319,000 after buying an additional 385,726 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other 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.

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