Mineralys Therapeutics (NASDAQ:MLYS) Shares Gap Up – Still a Buy?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS)’s share price gapped up before the market opened on Monday . The stock had previously closed at $13.40, but opened at $14.83. Mineralys Therapeutics shares last traded at $13.82, with a volume of 209,237 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. The Goldman Sachs Group cut their price objective on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Guggenheim reiterated a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th. Finally, HC Wainwright boosted their price objective on shares of Mineralys Therapeutics from $30.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 2nd.

Mineralys Therapeutics Trading Up 4.3 %

The company has a 50 day moving average price of $12.21 and a 200 day moving average price of $12.31. The company has a market capitalization of $877.11 million, a P/E ratio of -3.84 and a beta of -0.39.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.98) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.02. As a group, sell-side analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Insider Activity at Mineralys Therapeutics

In other news, Director Ra Capital Management, L.P. purchased 1,296,296 shares of Mineralys Therapeutics stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average cost of $13.50 per share, for a total transaction of $17,499,996.00. Following the purchase, the director now directly owns 4,280,051 shares of the company’s stock, valued at $57,780,688.50. This trade represents a 43.45 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David Malcom Rodman sold 55,771 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $15.76, for a total transaction of $878,950.96. Following the completion of the transaction, the insider now owns 116,704 shares in the company, valued at $1,839,255.04. This trade represents a 32.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 33.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new position in shares of Mineralys Therapeutics in the 4th quarter valued at $48,000. GAMMA Investing LLC increased its holdings in Mineralys Therapeutics by 9,602.2% in the 1st quarter. GAMMA Investing LLC now owns 8,829 shares of the company’s stock worth $140,000 after purchasing an additional 8,738 shares in the last quarter. ProShare Advisors LLC bought a new position in Mineralys Therapeutics in the fourth quarter valued at 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 valued at $130,000 after purchasing an additional 989 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of Mineralys Therapeutics during the fourth quarter valued at about $145,000. 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.