Stock Traders Buy High Volume of Mineralys Therapeutics Call Options (NASDAQ:MLYS)

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) saw some unusual options trading on Friday. Traders purchased 23,116 call options on the stock. This is an increase of approximately 319% compared to the typical volume of 5,519 call options.

Mineralys Therapeutics Stock Down 1.3%

Shares of Mineralys Therapeutics stock traded down $0.37 during trading on Friday, reaching $28.66. 136,503 shares of the stock were exchanged, compared to its average volume of 1,140,194. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -9.71 and a beta of 0.51. Mineralys Therapeutics has a 1 year low of $8.69 and a 1 year high of $47.65. The stock’s fifty day moving average is $32.42 and its 200 day moving average is $34.34.

Insider Buying and Selling

In other news, CFO Adam Scott Levy sold 10,758 shares of the firm’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $32.14, for a total transaction of $345,762.12. Following the sale, the chief financial officer owned 8,638 shares in the company, valued at approximately $277,625.32. This trade represents a 55.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David Malcom Rodman sold 192,715 shares of Mineralys Therapeutics stock in a transaction on Monday, January 5th. The stock was sold at an average price of $35.02, for a total transaction of $6,748,879.30. Following the sale, the insider directly owned 61,804 shares of the company’s stock, valued at $2,164,376.08. This represents a 75.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 340,748 shares of company stock worth $11,697,169 over the last ninety days. 25.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

Several hedge funds have recently made changes to their positions in the business. RA Capital Management L.P. lifted its position in Mineralys Therapeutics by 19.1% during the 3rd quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company’s stock valued at $277,717,000 after acquiring an additional 1,176,470 shares during the period. Vanguard Group Inc. increased its stake in shares of Mineralys Therapeutics by 11.1% during the fourth quarter. Vanguard Group Inc. now owns 3,352,880 shares of the company’s stock valued at $121,676,000 after purchasing an additional 333,881 shares in the last quarter. State Street Corp lifted its holdings in shares of Mineralys Therapeutics by 144.4% during the fourth quarter. State Street Corp now owns 3,184,999 shares of the company’s stock valued at $115,584,000 after purchasing an additional 1,881,976 shares during the last quarter. Caligan Partners LP lifted its holdings in shares of Mineralys Therapeutics by 37.4% during the third quarter. Caligan Partners LP now owns 2,772,654 shares of the company’s stock valued at $105,139,000 after purchasing an additional 755,302 shares during the last quarter. Finally, Suvretta Capital Management LLC boosted its position in shares of Mineralys Therapeutics by 22.2% in the 3rd quarter. Suvretta Capital Management LLC now owns 2,132,133 shares of the company’s stock worth $80,850,000 after purchasing an additional 387,641 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on MLYS. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Thursday, January 22nd. HC Wainwright lifted their price objective on Mineralys Therapeutics from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Wells Fargo & Company increased their target price on Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. Finally, Stifel Nicolaus raised their price target on Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.43.

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.