Mineralys Therapeutics (NASDAQ:MLYS) Sees Unusually-High Trading Volume

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) saw unusually-high trading volume on Monday . Approximately 313,451 shares changed hands during mid-day 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 Analysts Forecast Growth

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

Mineralys Therapeutics Stock Up 3.4 %

The firm has a market cap of $727.08 million, a PE ratio of -7.33 and a beta of 2.05. The firm’s fifty day simple moving average is $12.94 and its two-hundred day simple moving average is $10.64.

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

Insider Activity

In related news, major shareholder Samsara Biocapital Gp, Llc acquired 555,555 shares of the business’s 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 acquisition, the insider now directly owns 5,074,916 shares in the company, valued at approximately $68,511,366. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 33.24% of the company’s stock.

Institutional Investors Weigh In On Mineralys Therapeutics

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in shares of Mineralys Therapeutics by 17,821.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,122 shares of the company’s stock worth $35,000 after acquiring an additional 4,099 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in Mineralys Therapeutics during the fourth quarter valued at $41,000. CWM LLC grew its stake in shares of Mineralys Therapeutics by 120.0% in the 4th quarter. CWM LLC now owns 5,891 shares of the company’s stock worth $51,000 after buying an additional 3,213 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Mineralys Therapeutics in the 4th quarter worth about $87,000. Finally, CreativeOne Wealth LLC purchased a new stake in shares of Mineralys Therapeutics during the 4th quarter valued at about $92,000. 84.46% of the stock is owned by institutional investors.

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.