Mineralys Therapeutics (NASDAQ:MLYS) Stock Price Up 4% – What’s Next?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS)’s share price rose 4% during trading on Friday . The stock traded as high as $13.43 and last traded at $13.39. Approximately 9,138 shares were traded during trading, a decline of 95% from the average daily volume of 180,039 shares. The stock had previously closed at $12.87.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Mineralys Therapeutics in a research report on Tuesday, November 12th.

Mineralys Therapeutics Stock Performance

The company has a market capitalization of $631.07 million, a price-to-earnings ratio of -3.88 and a beta of 1.56. The company has a 50-day moving average price of $13.00 and a 200-day moving average price of $12.55.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings results on Monday, November 11th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.30). During the same quarter in the previous year, the company earned ($0.57) EPS. As a group, sell-side analysts anticipate that Mineralys Therapeutics, Inc. will post -3.63 earnings per share for the current fiscal year.

Insider Activity

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $13.57, for a total value of $145,972.49. Following the transaction, the chief financial officer now directly owns 236,854 shares of the company’s stock, valued at approximately $3,214,108.78. This trade represents a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David Malcom Rodman sold 25,482 shares of Mineralys Therapeutics stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $15.03, for a total value of $382,994.46. Following the completion of the sale, the insider now directly owns 135,974 shares in the company, valued at $2,043,689.22. This trade represents a 15.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,510 shares of company stock valued at $735,431 over the last three months. Corporate insiders own 33.24% of the company’s stock.

Hedge Funds Weigh In On Mineralys Therapeutics

Large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings in shares of Mineralys Therapeutics by 17.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company’s stock valued at $21,138,000 after purchasing an additional 262,922 shares in the last quarter. Caligan Partners LP raised its position in Mineralys Therapeutics by 31.6% in the 3rd quarter. Caligan Partners LP now owns 981,155 shares of the company’s stock valued at $11,882,000 after purchasing an additional 235,397 shares during the last quarter. Nantahala Capital Management LLC increased its stake in shares of Mineralys Therapeutics by 60.1% during the second quarter. Nantahala Capital Management LLC now owns 532,506 shares of the company’s stock worth $6,230,000 after acquiring an additional 200,000 shares during the period. Ikarian Capital LLC acquired a new position in Mineralys Therapeutics during the third quarter worth about $2,180,000. Finally, Driehaus Capital Management LLC grew its position in shares of Mineralys Therapeutics by 40.4% in the second quarter. Driehaus Capital Management LLC now owns 257,371 shares of the company’s stock valued at $3,011,000 after purchasing an additional 74,074 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

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.