Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) rose 8.8% during trading on Wednesday . The stock traded as high as $15.13 and last traded at $15.10. Approximately 295,782 shares changed hands during trading, a decline of 66% from the average daily volume of 875,508 shares. The stock had previously closed at $13.88.
Analyst Upgrades and Downgrades
MLYS has been the subject of several analyst reports. Wall Street Zen cut shares of Mineralys Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. HC Wainwright reiterated a "buy" rating and set a $42.00 price target on shares of Mineralys Therapeutics in a report on Tuesday, June 17th. Guggenheim set a $48.00 price target on shares of Mineralys Therapeutics and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, Jefferies Financial Group started coverage on shares of Mineralys Therapeutics in a research note on Tuesday, June 10th. They set a "hold" rating and a $15.00 price target for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $32.25.
Check Out Our Latest Analysis on Mineralys Therapeutics
Mineralys Therapeutics Stock Performance
The company has a market cap of $890.36 million, a PE ratio of -3.66 and a beta of -0.29. The stock's 50-day simple moving average is $14.52 and its 200 day simple moving average is $13.30.
Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its quarterly earnings results 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. On average, sell-side analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.
Insider Activity at Mineralys Therapeutics
In other Mineralys Therapeutics news, insider David Malcom Rodman sold 11,366 shares of Mineralys Therapeutics stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $15.29, for a total value of $173,786.14. Following the completion of the transaction, the insider owned 106,669 shares of the company's stock, valued at $1,630,969.01. The trade was a 9.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Adam Scott Levy sold 59,925 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $14.76, for a total value of $884,493.00. Following the sale, the chief financial officer owned 132,934 shares in the company, valued at approximately $1,962,105.84. The trade was a 31.07% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 123,052 shares of company stock worth $1,803,099. Company insiders own 25.56% of the company's stock.
Institutional Investors Weigh In On Mineralys Therapeutics
Several large investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. increased its holdings in Mineralys Therapeutics by 297.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company's stock valued at $25,000 after buying an additional 1,190 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Mineralys Therapeutics by 51.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company's stock valued at $34,000 after buying an additional 850 shares during the period. BNP Paribas Financial Markets bought a new stake in Mineralys Therapeutics in the 4th quarter valued at $48,000. KLP Kapitalforvaltning AS bought a new stake in Mineralys Therapeutics in the 2nd quarter valued at $91,000. Finally, Quarry LP acquired a new position in Mineralys Therapeutics during the first quarter worth $111,000. Institutional investors own 84.46% of the company's stock.
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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