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

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) gapped up before the market opened on Tuesday . The stock had previously closed at $15.88, but opened at $16.45. Mineralys Therapeutics shares last traded at $14.68, with a volume of 337,002 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MLYS shares. Guggenheim reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, February 24th. HC Wainwright raised their price target on shares of Mineralys Therapeutics from $30.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday. Finally, The Goldman Sachs Group reduced their price objective on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, February 13th.

Mineralys Therapeutics Stock Performance

The company has a 50 day moving average of $11.78 and a two-hundred day moving average of $12.26. The stock has a market capitalization of $878.99 million, a PE ratio of -3.85 and a beta of 1.50.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.02. As a group, research analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Insider Activity at Mineralys Therapeutics

In related news, Director Ra Capital Management, L.P. bought 1,296,296 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $13.50 per share, for a total transaction of $17,499,996.00. Following the completion of the transaction, the director now directly owns 4,280,051 shares in the company, valued at $57,780,688.50. This trade represents a 43.45 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Samsara Biocapital Gp, Llc bought 600,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of $13.50 per share, for a total transaction of $8,100,000.00. Following the completion of the acquisition, the insider now owns 5,674,916 shares in the company, valued at approximately $76,611,366. The trade was a 11.82 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 33.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its stake in shares of Mineralys Therapeutics by 1,015.8% in the 4th quarter. Millennium Management LLC now owns 1,101,674 shares of the company’s stock worth $13,562,000 after acquiring an additional 1,002,941 shares during the last quarter. Integral Health Asset Management LLC increased its position in Mineralys Therapeutics by 145.8% during the fourth quarter. Integral Health Asset Management LLC now owns 875,000 shares of the company’s stock worth $10,771,000 after purchasing an additional 519,000 shares during the last quarter. JPMorgan Chase & Co. increased its position in Mineralys Therapeutics by 2,251.5% during the fourth quarter. JPMorgan Chase & Co. now owns 503,590 shares of the company’s stock worth $6,199,000 after purchasing an additional 482,174 shares during the last quarter. Stempoint Capital LP purchased a new position in Mineralys Therapeutics during the fourth quarter worth about $4,925,000. Finally, Jennison Associates LLC boosted its holdings in Mineralys Therapeutics by 55.4% in the 4th quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock valued at $13,319,000 after purchasing an additional 385,726 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

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.