Mineralys Therapeutics (NASDAQ:MLYS) Stock Price Up 6.6% - Here's Why

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) traded up 6.6% during trading on Thursday . The company traded as high as $14.17 and last traded at $14.19. 335,823 shares were traded during mid-day trading, a decline of 62% from the average session volume of 882,733 shares. The stock had previously closed at $13.31.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MLYS shares. Jefferies Financial Group began coverage on Mineralys Therapeutics in a report on Tuesday, June 10th. They issued a "hold" rating and a $15.00 target price for the company. Wall Street Zen lowered shares of Mineralys Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Guggenheim set a $48.00 price objective on shares of Mineralys Therapeutics and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, HC Wainwright restated a "buy" rating and set a $42.00 price objective on shares of Mineralys Therapeutics in a report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $32.25.

Mineralys Therapeutics Trading Up 7.1%

The firm has a market capitalization of $929.47 million, a price-to-earnings ratio of -3.82 and a beta of -0.30. The company's 50 day moving average is $14.77 and its 200-day moving average is $13.12.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.79) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.02) by $0.23. Research analysts expect that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Insiders Place Their Bets

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,758 shares of Mineralys Therapeutics stock in a transaction on Friday, July 11th. The stock was sold at an average price of $14.45, for a total value of $155,453.10. Following the completion of the transaction, the chief financial officer directly owned 206,612 shares of the company's stock, valued at $2,985,543.40. The trade was a 4.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Malcom Rodman sold 11,366 shares of Mineralys Therapeutics stock in a transaction on Monday, July 14th. The shares were sold at an average price of $14.59, for a total value of $165,829.94. Following the completion of the transaction, the insider directly owned 97,907 shares of the company's stock, valued at $1,428,463.13. This represents a 10.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,374 shares of company stock worth $725,546 in the last quarter. 25.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in Mineralys Therapeutics by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 65,318 shares of the company's stock valued at $804,000 after purchasing an additional 1,711 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Mineralys Therapeutics by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 214,906 shares of the company's stock worth $2,645,000 after acquiring an additional 1,307 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Mineralys Therapeutics during the fourth quarter worth about $285,000. Vanguard Group Inc. raised its stake in Mineralys Therapeutics by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 1,432,042 shares of the company's stock worth $17,628,000 after acquiring an additional 68,811 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in Mineralys Therapeutics by 85.7% during the 4th quarter. Prudential Financial Inc. now owns 125,650 shares of the company's stock worth $1,547,000 after purchasing an additional 58,000 shares in the last quarter. Institutional investors and hedge funds 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.

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