Stock Traders Buy High Volume of Mineralys Therapeutics Call Options (NASDAQ:MLYS)

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) was the target of some unusual options trading on Friday. Investors purchased 23,116 call options on the company. This represents an increase of approximately 319% compared to the typical volume of 5,519 call options.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Thursday, January 22nd. HC Wainwright lifted their target price on Mineralys Therapeutics from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Wells Fargo & Company boosted their price target on Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. Finally, Stifel Nicolaus increased their price objective on Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.43.

Mineralys Therapeutics Trading Down 1.3%

NASDAQ:MLYS traded down $0.37 during trading hours on Friday, reaching $28.66. The company had a trading volume of 136,503 shares, compared to its average volume of 1,140,194. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -9.71 and a beta of 0.51. The firm’s 50 day moving average price is $32.42 and its 200-day moving average price is $34.34. Mineralys Therapeutics has a 52 week low of $8.69 and a 52 week high of $47.65.

Insiders Place Their Bets

In related news, CEO Jon Congleton sold 16,236 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $32.62, for a total value of $529,618.32. Following the transaction, the chief executive officer owned 639,151 shares in the company, valued at $20,849,105.62. The trade was a 2.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Adam Scott Levy sold 10,758 shares of the firm’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $32.14, for a total transaction of $345,762.12. Following the sale, the chief financial officer owned 8,638 shares of the company’s stock, valued at approximately $277,625.32. This represents a 55.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 340,748 shares of company stock valued at $11,697,169. 25.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Navalign LLC bought a new position in shares of Mineralys Therapeutics in the fourth quarter worth approximately $33,000. Smartleaf Asset Management LLC lifted its stake in shares of Mineralys Therapeutics by 198.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock valued at $40,000 after buying an additional 676 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Mineralys Therapeutics by 42.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,995 shares of the company’s stock valued at $54,000 after buying an additional 1,197 shares in the last quarter. Royal Bank of Canada boosted its holdings in Mineralys Therapeutics by 262.3% in the 4th quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock worth $56,000 after buying an additional 1,107 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Mineralys Therapeutics by 1,845.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock worth $76,000 after buying an additional 1,993 shares during the period. 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. The company was formerly known as Catalys SC1, Inc and changed its name to Mineralys Therapeutics, Inc in May 2020. The company was incorporated in 2019 and is headquartered in Radnor, Pennsylvania.