Mineralys Therapeutics (NASDAQ:MLYS) Trading 3% Higher – Still a Buy?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) shares traded up 3% on Friday . The company traded as high as $12.19 and last traded at $12.19. 36,993 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 177,035 shares. The stock had previously closed at $11.83.

Wall Street Analyst Weigh In

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

Mineralys Therapeutics Trading Up 4.3 %

The stock has a market cap of $614.16 million, a PE ratio of -3.77 and a beta of 1.55. The business has a 50-day moving average price of $13.10 and a 200 day moving average price of $12.57.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data 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 earned ($0.57) EPS. On average, equities analysts predict that Mineralys Therapeutics, Inc. will post -3.63 earnings per share for the current year.

Insider Activity at Mineralys Therapeutics

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its stake in Mineralys Therapeutics by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock valued at $116,000 after buying an additional 3,732 shares during the period. Federated Hermes Inc. boosted its position in shares of Mineralys Therapeutics by 100.0% during the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock valued at $140,000 after acquiring an additional 6,000 shares during the last quarter. Verition Fund Management LLC grew its holdings in shares of Mineralys Therapeutics by 30.6% during the third quarter. Verition Fund Management LLC now owns 27,361 shares of the company’s stock worth $331,000 after purchasing an additional 6,408 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Mineralys Therapeutics in the third quarter worth approximately $110,000. Finally, Charles Schwab Investment Management Inc. raised 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 purchasing an additional 9,664 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

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.