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

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) was the target of unusually large options trading activity on Friday. Stock traders acquired 23,116 call options on the company. This is an increase of 319% compared to the typical daily volume of 5,519 call options.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MLYS. HC Wainwright upped their price objective on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Stifel Nicolaus boosted their target price on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a report on Friday, December 19th. Wells Fargo & Company increased their price target on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Thursday, January 22nd. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Mineralys Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $47.43.

Mineralys Therapeutics Price Performance

NASDAQ MLYS opened at $29.26 on Friday. The stock has a market capitalization of $2.32 billion, a P/E ratio of -9.92 and a beta of 0.51. The firm’s 50-day moving average is $32.27 and its two-hundred day moving average is $34.60. Mineralys Therapeutics has a 12 month low of $8.69 and a 12 month high of $47.65.

Insider Transactions at Mineralys Therapeutics

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

Hedge Funds Weigh In On Mineralys Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Seven Fleet Capital Management LP purchased a new stake in Mineralys Therapeutics in the fourth quarter valued at approximately $553,000. XTX Topco Ltd boosted its position in shares of Mineralys Therapeutics by 291.1% during the fourth quarter. XTX Topco Ltd now owns 73,678 shares of the company’s stock worth $2,674,000 after buying an additional 54,838 shares during the period. Ikarian Capital LLC acquired a new stake in shares of Mineralys Therapeutics in the fourth quarter valued at $7,258,000. Sphera Funds Management LTD. raised its holdings in shares of Mineralys Therapeutics by 104.2% in the 4th quarter. Sphera Funds Management LTD. now owns 449,003 shares of the company’s stock valued at $16,294,000 after buying an additional 229,093 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of Mineralys Therapeutics by 6,012.8% in the 4th quarter. Janus Henderson Group PLC now owns 1,213,265 shares of the company’s stock valued at $44,005,000 after buying an additional 1,193,417 shares during the period. 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. 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.