Mineralys Therapeutics (NASDAQ:MLYS) Trading Up 5.1% – Should You Buy?

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) traded up 5.1% during trading on Wednesday . The stock traded as high as $10.34 and last traded at $10.37. 212,638 shares changed hands during trading, a decline of 18% from the average session volume of 259,816 shares. The stock had previously closed at $9.86.

Analyst Ratings Changes

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

Mineralys Therapeutics Trading Up 5.2 %

The stock has a market cap of $516.26 million, a price-to-earnings ratio of -3.17 and a beta of 1.49. The company has a fifty day simple moving average of $11.79 and a 200-day simple moving average of $12.30.

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

Insider Activity

In other Mineralys Therapeutics news, CEO Jon Congleton sold 18,333 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $9.06, for a total value of $166,096.98. Following the completion of the sale, the chief executive officer now owns 877,608 shares in the company, valued at $7,951,128.48. This represents a 2.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David Malcom Rodman sold 25,482 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $15.03, for a total transaction of $382,994.46. Following the transaction, the insider now owns 135,974 shares in the company, valued at approximately $2,043,689.22. This represents a 15.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,572 shares of company stock worth $646,980. 33.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MLYS. China Universal Asset Management Co. Ltd. raised its stake in shares of Mineralys Therapeutics by 10.3% during the 4th 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. Verition Fund Management LLC increased its holdings in Mineralys Therapeutics by 30.6% in the third quarter. Verition Fund Management LLC now owns 27,361 shares of the company’s stock worth $331,000 after buying an additional 6,408 shares during the last quarter. SG Americas Securities LLC bought a new position in Mineralys Therapeutics during the third quarter valued at approximately $110,000. Charles Schwab Investment Management Inc. lifted its stake in Mineralys Therapeutics by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 213,599 shares of the company’s stock valued at $2,587,000 after acquiring an additional 9,664 shares during the last quarter. Finally, PDT Partners LLC bought a new stake in Mineralys Therapeutics in the third quarter worth approximately $148,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Company Profile

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.