Mineralys Therapeutics (NASDAQ:MLYS) Sets New 12-Month High - Here's What Happened

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $14.48 and last traded at $14.21, with a volume of 996104 shares traded. The stock had previously closed at $13.94.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. HC Wainwright raised their price objective on shares of Mineralys Therapeutics from $30.00 to $42.00 and gave the company a "buy" rating in a research note on Wednesday, April 2nd. Guggenheim reiterated a "buy" rating on shares of Mineralys Therapeutics in a report on Monday, February 24th. Finally, The Goldman Sachs Group cut their target price on Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th.

Mineralys Therapeutics Trading Down 3.4 %

The company's 50 day simple moving average is $13.55 and its 200-day simple moving average is $12.38. The firm has a market cap of $979.69 million, a P/E ratio of -4.15 and a beta of -0.30.

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 for the quarter, beating analysts' consensus estimates of ($1.00) by $0.02. On average, sell-side analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Insider Transactions at Mineralys Therapeutics

In other Mineralys Therapeutics news, major shareholder Samsara Biocapital Gp, Llc purchased 600,000 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $13.50 per share, for a total transaction of $8,100,000.00. Following the purchase, the insider now directly owns 5,674,916 shares of the company's stock, valued at $76,611,366. The trade was a 11.82 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Malcom Rodman sold 11,366 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $14.53, for a total value of $165,147.98. Following the completion of the sale, the insider now owns 111,686 shares of the company's stock, valued at $1,622,797.58. This trade represents a 9.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,213 shares of company stock worth $1,360,567 in the last ninety days. Insiders own 33.24% of the company's stock.

Institutional Trading of Mineralys Therapeutics

Several hedge funds have recently bought and sold shares of MLYS. Barclays PLC grew its stake in shares of Mineralys Therapeutics by 281.8% during the 3rd quarter. Barclays PLC now owns 38,218 shares of the company's stock valued at $463,000 after acquiring an additional 28,208 shares during the period. Franklin Resources Inc. boosted its position in shares of Mineralys Therapeutics by 17.7% in the third quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company's stock worth $21,138,000 after purchasing an additional 262,922 shares during the period. SG Americas Securities LLC boosted its position in shares of Mineralys Therapeutics by 119.0% in the fourth quarter. SG Americas Securities LLC now owns 19,961 shares of the company's stock worth $246,000 after purchasing an additional 10,845 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of 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 worth $130,000 after purchasing an additional 989 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Mineralys Therapeutics by 55.4% during the 4th quarter. Jennison Associates LLC now owns 1,082,006 shares of the company's stock valued at $13,319,000 after purchasing an additional 385,726 shares during the period. Institutional investors own 84.46% of the company's stock.

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.