Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Short Interest Up 112.2% in March

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 4,710,000 shares, an increase of 112.2% from the March 15th total of 2,220,000 shares. Based on an average trading volume of 1,020,000 shares, the short-interest ratio is presently 4.6 days. Currently, 12.7% of the shares of the stock are sold short.

Mineralys Therapeutics Price Performance

Shares of Mineralys Therapeutics stock traded down $0.11 during midday trading on Monday, reaching $13.24. The company had a trading volume of 638,842 shares, compared to its average volume of 965,892. The firm has a market cap of $858.96 million, a PE ratio of -3.64 and a beta of -0.39. The stock has a fifty day moving average price of $12.59 and a 200 day moving average price of $12.35. Mineralys Therapeutics has a fifty-two week low of $8.24 and a fifty-two week high of $18.38.

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

Wall Street Analysts Forecast Growth

MLYS has been the topic of several recent analyst reports. The Goldman Sachs Group cut their target price on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. HC Wainwright lifted their target price on shares of Mineralys Therapeutics from $30.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday, April 2nd. Finally, Guggenheim reaffirmed a "buy" rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th.

Insiders Place Their Bets

In other news, Director Ra Capital Management, L.P. purchased 1,296,296 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $13.50 per share, with a total value 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. The trade was a 43.45 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jon Congleton sold 15,319 shares of the firm's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $12.19, for a total value of $186,738.61. Following the sale, the chief executive officer now owns 862,289 shares in the company, valued at $10,511,302.91. This trade represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 93,213 shares of company stock worth $1,360,567. Company insiders own 33.24% of the company's stock.

Hedge Funds Weigh In On Mineralys Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in Mineralys Therapeutics in the 4th quarter worth $48,000. GAMMA Investing LLC grew its position in shares of Mineralys Therapeutics by 9,602.2% during the 1st quarter. GAMMA Investing LLC now owns 8,829 shares of the company's stock worth $140,000 after buying an additional 8,738 shares in the last quarter. ProShare Advisors LLC purchased a new stake in Mineralys Therapeutics during the fourth quarter worth $128,000. China Universal Asset Management Co. Ltd. grew its position in shares of Mineralys Therapeutics by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company's stock worth $130,000 after buying an additional 989 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of Mineralys Therapeutics during the fourth quarter valued at $145,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

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.