Mineralys Therapeutics Sees Unusually Large Options Volume (NASDAQ:MLYS)

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) was the recipient of some unusual options trading on Friday. Investors purchased 92,406 put options on the company. This represents an increase of approximately 3,057% compared to the average daily volume of 2,927 put options.

Mineralys Therapeutics Price Performance

NASDAQ:MLYS opened at $29.77 on Friday. Mineralys Therapeutics has a 1 year low of $8.24 and a 1 year high of $47.65. The stock’s fifty day moving average price is $34.86 and its two-hundred day moving average price is $32.86. The company has a market cap of $2.36 billion, a P/E ratio of -10.09 and a beta of 0.51.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.14. On average, analysts expect that Mineralys Therapeutics will post -4.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. HC Wainwright increased their target price on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Thursday, January 22nd. Wells Fargo & Company raised their target price on Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Finally, Stifel Nicolaus boosted their target price on Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research note 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.43.

Insider Activity

In related news, Director Brian Taylor Slingsby sold 1,000,000 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $43.35, for a total transaction of $43,350,000.00. Following the completion of the transaction, the director owned 7,903,838 shares in the company, valued at approximately $342,631,377.30. This represents a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Malcom Rodman sold 11,367 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $32.61, for a total transaction of $370,677.87. Following the sale, the insider owned 50,437 shares of the company’s stock, valued at $1,644,750.57. This trade represents a 18.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,686,955 shares of company stock worth $71,118,551. 25.56% of the stock is owned by insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of large investors have recently modified their holdings of MLYS. AQR Capital Management LLC purchased a new stake in shares of Mineralys Therapeutics in the 1st quarter valued at about $550,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Mineralys Therapeutics by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock worth $271,000 after purchasing an additional 702 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Mineralys Therapeutics by 166.6% in the first quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company’s stock worth $4,739,000 after purchasing an additional 186,480 shares during the last quarter. Woodline Partners LP purchased a new stake in Mineralys Therapeutics in the first quarter valued at approximately $757,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Mineralys Therapeutics by 51.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock valued at $34,000 after purchasing an additional 850 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

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. 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.