Mineralys Therapeutics (NASDAQ:MLYS) Sees Strong Trading Volume

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) shares saw unusually-strong trading volume on Monday . Approximately 313,451 shares changed hands during trading, an increase of 99% from the previous session’s volume of 157,511 shares.The stock last traded at $13.76 and had previously closed at $12.95.

Wall Street Analyst Weigh In

MLYS has been the topic of several research analyst reports. The Goldman Sachs Group started coverage on Mineralys Therapeutics in a research report on Tuesday, April 2nd. They set a “buy” rating and a $30.00 target price on the stock. Lifesci Capital restated an “outperform” rating on shares of Mineralys Therapeutics in a report on Tuesday, March 26th.

Mineralys Therapeutics Stock Up 3.4 %

The stock has a market capitalization of $727.08 million, a PE ratio of -7.33 and a beta of 2.05. The firm has a 50 day moving average price of $12.94 and a 200 day moving average price of $10.64.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings results on Thursday, March 21st. The company reported ($0.61) EPS for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.24. On average, equities analysts forecast that Mineralys Therapeutics, Inc. will post -2.44 earnings per share for the current fiscal year.

Insider Activity at Mineralys Therapeutics

In other news, major shareholder Samsara Biocapital Gp, Llc acquired 555,555 shares of Mineralys Therapeutics stock in a transaction on Monday, February 12th. The stock was acquired at an average cost of $13.50 per share, with a total value of $7,499,992.50. Following the transaction, the insider now owns 5,074,916 shares of the company’s stock, valued at approximately $68,511,366. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 33.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

Several institutional investors have recently modified their holdings of MLYS. PNC Financial Services Group Inc. grew its stake in Mineralys Therapeutics by 17,821.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,122 shares of the company’s stock valued at $35,000 after purchasing an additional 4,099 shares during the period. China Universal Asset Management Co. Ltd. bought a new position in shares of Mineralys Therapeutics during the 4th quarter valued at approximately $41,000. CWM LLC increased its position in Mineralys Therapeutics by 120.0% in the fourth quarter. CWM LLC now owns 5,891 shares of the company’s stock worth $51,000 after buying an additional 3,213 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Mineralys Therapeutics during the 4th quarter worth $87,000. Finally, CreativeOne Wealth LLC purchased a new stake in Mineralys Therapeutics in the 4th quarter worth about $92,000. 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.