Mineralys Therapeutics (NASDAQ:MLYS) Sees Unusually-High Trading Volume

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 313,451 shares traded hands during trading, an increase of 99% from the previous session's volume of 157,511 shares.The stock last traded at $13.76 and had previously closed at $12.95.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. The Goldman Sachs Group started coverage on Mineralys Therapeutics in a research report on Tuesday, April 2nd. They issued a "buy" rating and a $30.00 price objective for the company. Lifesci Capital reissued an "outperform" rating on shares of Mineralys Therapeutics in a research report on Tuesday, March 26th.

Mineralys Therapeutics Price Performance

The company has a market cap of $682.41 million, a PE ratio of -6.88 and a beta of 2.05. The business's 50 day moving average is $12.98 and its 200-day moving average is $10.57.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last posted its earnings results on Thursday, March 21st. The company reported ($0.61) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.24. As a group, sell-side analysts predict that Mineralys Therapeutics, Inc. will post -2.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Samsara Biocapital Gp, Llc purchased 555,555 shares of the business's stock in a transaction on Monday, February 12th. The shares were bought at an average price of $13.50 per share, with a total value of $7,499,992.50. Following the completion of the transaction, the insider now directly owns 5,074,916 shares in the company, valued at approximately $68,511,366. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 33.24% of the company's stock.

Hedge Funds Weigh In On Mineralys Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its stake in Mineralys Therapeutics by 17,821.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,122 shares of the company's stock valued at $35,000 after buying an additional 4,099 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Mineralys Therapeutics in the fourth quarter valued at about $41,000. CWM LLC increased its stake in shares of Mineralys Therapeutics by 120.0% during the fourth quarter. CWM LLC now owns 5,891 shares of the company's stock worth $51,000 after acquiring an additional 3,213 shares during the period. SG Americas Securities LLC purchased a new position in Mineralys Therapeutics during the fourth quarter worth about $87,000. Finally, CreativeOne Wealth LLC acquired a new stake in Mineralys Therapeutics in the fourth quarter valued at about $92,000. 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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