Mineralys Therapeutics Target of Unusually Large Options Trading (NASDAQ:MLYS)

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) was the recipient of unusually large options trading activity on Monday. Traders acquired 8,120 put options on the stock. This represents an increase of 1,050% compared to the typical daily volume of 706 put options.

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, CEO Jon Congleton sold 15,100 shares of the firm’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $42.67, for a total transaction of $644,317.00. Following the completion of the sale, the chief executive officer directly owned 831,305 shares in the company, valued at approximately $35,471,784.35. This trade represents a 1.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Srinivas Akkaraju bought 588,235 shares of the stock in a transaction on Thursday, September 4th. The shares were acquired at an average cost of $25.50 per share, for a total transaction of $14,999,992.50. Following the purchase, the director owned 588,235 shares in the company, valued at approximately $14,999,992.50. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders sold 58,959 shares of company stock worth $2,098,393. Insiders own 33.24% of the company’s stock.

Institutional Trading of Mineralys Therapeutics

Several large investors have recently modified their holdings of MLYS. Greenland Capital Management LP raised its holdings in Mineralys Therapeutics by 958.5% in the 3rd quarter. Greenland Capital Management LP now owns 105,853 shares of the company’s stock worth $4,014,000 after acquiring an additional 95,853 shares during the period. Citigroup Inc. grew its position in shares of Mineralys Therapeutics by 501.7% in the third quarter. Citigroup Inc. now owns 163,168 shares of the company’s stock valued at $6,187,000 after purchasing an additional 136,050 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Mineralys Therapeutics by 29.8% in the third quarter. Vanguard Group Inc. now owns 3,018,999 shares of the company’s stock worth $114,480,000 after purchasing an additional 692,550 shares during the period. Rhumbline Advisers lifted its position in shares of Mineralys Therapeutics by 3.2% during the 3rd quarter. Rhumbline Advisers now owns 55,291 shares of the company’s stock worth $2,097,000 after purchasing an additional 1,695 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in 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 purchasing an additional 676 shares during the period. 84.46% of the stock is owned by institutional investors.

Mineralys Therapeutics Trading Up 17.0%

Shares of NASDAQ:MLYS opened at $44.50 on Tuesday. The stock has a market capitalization of $2.95 billion, a PE ratio of -12.50 and a beta of 0.40. Mineralys Therapeutics has a 1 year low of $8.24 and a 1 year high of $44.89. The firm has a fifty day moving average price of $39.10 and a 200 day moving average price of $23.23.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Tuesday, August 12th. The company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.12. On average, sell-side analysts forecast that Mineralys Therapeutics will post -4.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

MLYS has been the subject of several research reports. The Goldman Sachs Group raised their price target on shares of Mineralys Therapeutics from $32.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. HC Wainwright lifted their target price on shares of Mineralys Therapeutics from $42.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Wednesday, October 8th. Wall Street Zen upgraded Mineralys Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 22nd. Finally, Wells Fargo & Company lifted their price objective on Mineralys Therapeutics from $26.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.17.

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.