Stock Traders Purchase Large Volume of Mineralys Therapeutics Call Options (NASDAQ:MLYS)

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

Analyst Upgrades and Downgrades

Several analysts recently commented on MLYS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Thursday, January 22nd. Stifel Nicolaus upped their target price on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, December 19th. 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. Finally, Wells Fargo & Company boosted their price target on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $47.43.

Mineralys Therapeutics Stock Up 0.8%

MLYS stock opened at $29.26 on Friday. Mineralys Therapeutics has a 52-week low of $8.69 and a 52-week high of $47.65. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of -9.92 and a beta of 0.51. The business has a fifty day moving average of $32.27 and a two-hundred day moving average of $34.45.

Insider Activity

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 14,055 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $27.44, for a total transaction of $385,669.20. Following the completion of the sale, the insider directly owned 44,089 shares in the company, valued at approximately $1,209,802.16. The trade was a 24.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jon Congleton sold 16,236 shares of the stock in a transaction that occurred on 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 directly owned 639,151 shares of the company’s stock, valued at $20,849,105.62. The trade was a 2.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 340,748 shares of company stock worth $11,697,169 over the last 90 days. 25.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MLYS. Simplify Asset Management Inc. acquired a new position in shares of Mineralys Therapeutics in the 3rd quarter worth approximately $8,294,000. Geode Capital Management LLC raised its position in Mineralys Therapeutics by 19.0% in the second quarter. Geode Capital Management LLC now owns 954,560 shares of the company’s stock valued at $12,917,000 after purchasing an additional 152,560 shares during the period. 22NW LP raised its position in Mineralys Therapeutics by 21.4% in the second quarter. 22NW LP now owns 560,042 shares of the company’s stock valued at $7,577,000 after purchasing an additional 98,698 shares during the period. Voya Investment Management LLC lifted its stake in Mineralys Therapeutics by 174.4% during the third quarter. Voya Investment Management LLC now owns 138,526 shares of the company’s stock worth $5,253,000 after purchasing an additional 88,050 shares in the last quarter. Finally, Pale Fire Capital SE boosted its position in shares of Mineralys Therapeutics by 11.8% during the second quarter. Pale Fire Capital SE now owns 446,626 shares of the company’s stock worth $6,043,000 after buying an additional 47,128 shares during the period. Institutional investors and hedge funds 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.