Mineralys Therapeutics (NASDAQ:MLYS) Shares Up 5.1% – What’s Next?

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) rose 5.1% during mid-day trading on Wednesday . The company traded as high as $10.34 and last traded at $10.37. Approximately 212,638 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 259,816 shares. The stock had previously closed at $9.86.

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 report on Tuesday, November 12th.

Mineralys Therapeutics Stock Up 0.3 %

The company has a market cap of $512.63 million, a PE ratio of -3.15 and a beta of 1.49. The business’s fifty day moving average is $11.71 and its 200-day moving average is $12.27.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings data on Monday, November 11th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.30). During the same quarter in the previous year, the company earned ($0.57) EPS. Analysts forecast that Mineralys Therapeutics, Inc. will post -3.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of the company’s stock in a transaction that occurred on 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David Malcom Rodman sold 25,482 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $15.03, for a total transaction of $382,994.46. Following the sale, the insider now owns 135,974 shares in the company, valued at $2,043,689.22. The trade was a 15.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,572 shares of company stock worth $646,980 over the last quarter. 33.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of MLYS. China Universal Asset Management Co. Ltd. grew its position in shares of Mineralys Therapeutics by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company’s stock worth $130,000 after purchasing an additional 989 shares in the last quarter. Verition Fund Management LLC boosted its stake in Mineralys Therapeutics by 30.6% in the 3rd quarter. Verition Fund Management LLC now owns 27,361 shares of the company’s stock worth $331,000 after purchasing an additional 6,408 shares during the period. SG Americas Securities LLC bought a new position in Mineralys Therapeutics in the 3rd quarter worth approximately $110,000. Charles Schwab Investment Management Inc. grew its holdings in Mineralys Therapeutics by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 213,599 shares of the company’s stock valued at $2,587,000 after buying an additional 9,664 shares in the last quarter. Finally, PDT Partners LLC bought a new stake in shares of Mineralys Therapeutics during the third quarter valued at approximately $148,000. 84.46% of the stock is owned by institutional investors.

About Mineralys Therapeutics

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.