Mineralys Therapeutics (NASDAQ:MLYS) Sees Large Volume Increase

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) saw strong trading volume on Monday . 313,451 shares traded hands during mid-day 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.

Analyst Ratings Changes

A number of research firms have recently commented on MLYS. Lifesci Capital reiterated an “outperform” rating on shares of Mineralys Therapeutics in a research report on Tuesday, March 26th. The Goldman Sachs Group began coverage on Mineralys Therapeutics in a research note on Tuesday, April 2nd. They issued a “buy” rating and a $30.00 price objective for the company.

Mineralys Therapeutics Price Performance

The firm’s 50 day moving average price is $12.98 and its two-hundred day moving average price is $10.57. The firm has a market cap of $682.41 million, a price-to-earnings ratio of -6.88 and a beta of 2.05.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data on Thursday, March 21st. The company reported ($0.61) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.24. On average, analysts anticipate that Mineralys Therapeutics, Inc. will post -2.44 earnings per share for the current year.

Insider Activity

In other Mineralys Therapeutics news, major shareholder Samsara Biocapital Gp, Llc acquired 555,555 shares of the business’s stock in a transaction on Monday, February 12th. The stock was purchased at an average price of $13.50 per share, for a total transaction of $7,499,992.50. Following the completion of the transaction, the insider now owns 5,074,916 shares of the company’s stock, valued at approximately $68,511,366. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 33.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLYS. Catalys Pacific LLC purchased a new stake in Mineralys Therapeutics during the fourth quarter worth $79,073,000. Braidwell LP grew its stake in Mineralys Therapeutics by 267.8% in the 3rd quarter. Braidwell LP now owns 2,023,900 shares of the company’s stock valued at $19,247,000 after acquiring an additional 1,473,600 shares during the last quarter. FMR LLC increased its holdings in Mineralys Therapeutics by 62.6% during the 3rd quarter. FMR LLC now owns 1,188,653 shares of the company’s stock valued at $11,304,000 after acquiring an additional 457,815 shares in the last quarter. Laurion Capital Management LP raised its position in Mineralys Therapeutics by 42.6% during the third quarter. Laurion Capital Management LP now owns 969,978 shares of the company’s stock worth $9,224,000 after acquiring an additional 289,847 shares during the last quarter. Finally, Sectoral Asset Management Inc. lifted its holdings in shares of Mineralys Therapeutics by 36.8% in the third quarter. Sectoral Asset Management Inc. now owns 840,759 shares of the company’s stock valued at $7,996,000 after purchasing an additional 226,046 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.