Insider Buying: Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Director Buys 1,296,296 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYSGet Free Report) Director Ra Capital Management, L.P. acquired 1,296,296 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $13.50 per share, with a total value of $17,499,996.00. Following the acquisition, the director now owns 4,280,051 shares in the company, valued at $57,780,688.50. The trade was a 43.45 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Mineralys Therapeutics Trading Down 0.2 %

Mineralys Therapeutics stock traded down $0.03 during trading on Monday, hitting $14.22. The company had a trading volume of 636,352 shares, compared to its average volume of 301,891. Mineralys Therapeutics, Inc. has a 1-year low of $8.24 and a 1-year high of $18.29. The company’s 50 day simple moving average is $10.45 and its 200-day simple moving average is $11.94. The stock has a market cap of $708.67 million, a price-to-earnings ratio of -3.91 and a beta of 1.50.

Mineralys Therapeutics (NASDAQ:MLYSGet Free Report) last posted its earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($1.00) by $0.02. As a group, analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

Institutional Trading of Mineralys Therapeutics

Several institutional investors have recently added to or reduced their stakes in MLYS. Polar Asset Management Partners Inc. purchased a new position in Mineralys Therapeutics in the 3rd quarter valued at approximately $490,000. Jennison Associates LLC boosted 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 period. Barclays PLC boosted its position in Mineralys Therapeutics by 281.8% in the 3rd quarter. Barclays PLC now owns 38,218 shares of the company’s stock valued at $463,000 after buying an additional 28,208 shares during the period. Wellington Management Group LLP purchased a new position in Mineralys Therapeutics in the 3rd quarter valued at approximately $775,000. Finally, State Street Corp boosted its position in Mineralys Therapeutics by 4.0% in the 3rd quarter. State Street Corp now owns 483,766 shares of the company’s stock valued at $5,858,000 after buying an additional 18,627 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

MLYS has been the subject of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Mineralys Therapeutics in a report on Monday, March 10th. Guggenheim restated a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, February 24th. Finally, The Goldman Sachs Group cut 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.

Read Our Latest Stock Report on Mineralys Therapeutics

About Mineralys Therapeutics

(Get Free Report)

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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