Insider Buying: Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Major Shareholder Purchases 600,000 Shares of Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) major shareholder Samsara Biocapital Gp, Llc bought 600,000 shares of Mineralys Therapeutics stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $13.50 per share, with a total value of $8,100,000.00. Following the acquisition, the insider now owns 5,674,916 shares of the company’s stock, valued at $76,611,366. The trade was a 11.82 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Mineralys Therapeutics Trading Down 0.2 %

MLYS traded down $0.03 on Monday, reaching $14.22. The stock had a trading volume of 636,352 shares, compared to its average volume of 301,891. Mineralys Therapeutics, Inc. has a 12-month low of $8.24 and a 12-month high of $18.29. The business’s 50-day moving average price is $10.45 and its two-hundred day moving average price is $11.94. The company has a market cap of $708.67 million, a P/E ratio of -3.91 and a beta of 1.50.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data 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. As a group, analysts predict that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on MLYS shares. The Goldman Sachs Group reduced their target price on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Guggenheim reissued a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, February 24th. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Mineralys Therapeutics in a report on Monday, March 10th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MLYS. China Universal Asset Management Co. Ltd. increased its stake in shares of Mineralys Therapeutics by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company’s stock worth $130,000 after purchasing an additional 989 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Mineralys Therapeutics by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 214,906 shares of the company’s stock worth $2,645,000 after purchasing an additional 1,307 shares in the last quarter. Northern Trust Corp increased its stake in shares of Mineralys Therapeutics by 0.7% during the fourth quarter. Northern Trust Corp now owns 246,113 shares of the company’s stock worth $3,030,000 after purchasing an additional 1,688 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Mineralys Therapeutics by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 65,318 shares of the company’s stock worth $804,000 after purchasing an additional 1,711 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Mineralys Therapeutics by 19.1% during the fourth quarter. Wells Fargo & Company MN now owns 23,714 shares of the company’s stock worth $292,000 after purchasing an additional 3,802 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.