Mineralys Therapeutics (NASDAQ:MLYS) Shares Gap Up – What’s Next?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) shares gapped up before the market opened on Monday . The stock had previously closed at $13.40, but opened at $14.83. Mineralys Therapeutics shares last traded at $13.82, with a volume of 209,237 shares changing hands.

Analyst Ratings Changes

Several analysts have commented on the stock. HC Wainwright lifted their target price on shares of Mineralys Therapeutics from $30.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 2nd. The Goldman Sachs Group lowered their price objective on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Guggenheim reiterated a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th.

Mineralys Therapeutics Price Performance

The company’s 50-day moving average is $12.36 and its 200-day moving average is $12.34. The firm has a market capitalization of $871.46 million, a price-to-earnings ratio of -3.81 and a beta of -0.39.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02. Sell-side analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Insider Activity at Mineralys Therapeutics

In other news, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $12.06, for a total value of $129,729.42. Following the transaction, the chief financial officer now directly owns 215,340 shares of the company’s stock, valued at $2,597,000.40. The trade was a 4.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Samsara Biocapital Gp, Llc bought 600,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $13.50 per share, with a total value of $8,100,000.00. Following the acquisition, the insider now directly owns 5,674,916 shares in the company, valued at approximately $76,611,366. This trade represents a 11.82 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 93,213 shares of company stock worth $1,360,567. 33.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

Hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. boosted its position in Mineralys Therapeutics by 17.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company’s stock worth $21,138,000 after purchasing an additional 262,922 shares during the period. Vanguard Group Inc. boosted its position in shares of Mineralys Therapeutics by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 1,432,042 shares of the company’s stock worth $17,628,000 after buying an additional 68,811 shares during the period. Millennium Management LLC grew its stake in shares of Mineralys Therapeutics by 1,015.8% in the fourth quarter. Millennium Management LLC now owns 1,101,674 shares of the company’s stock valued at $13,562,000 after buying an additional 1,002,941 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Mineralys Therapeutics by 55.4% during the 4th quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock valued at $13,319,000 after buying an additional 385,726 shares during the period. Finally, Caligan Partners LP lifted its position in Mineralys Therapeutics by 3.1% during the 4th quarter. Caligan Partners LP now owns 1,011,155 shares of the company’s stock worth $12,447,000 after acquiring an additional 30,000 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

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.