Mineralys Therapeutics (NASDAQ:MLYS) Shares Gap Up to $11.69

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) gapped up before the market opened on Friday . The stock had previously closed at $11.69, but opened at $12.04. Mineralys Therapeutics shares last traded at $12.10, with a volume of 52,969 shares.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Mineralys Therapeutics in a research report on Thursday, August 15th.

Mineralys Therapeutics Stock Performance

The company’s 50 day moving average price is $12.07 and its 200-day moving average price is $12.50. The company has a market cap of $579.90 million, a price-to-earnings ratio of -5.53 and a beta of 1.93.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Tuesday, August 13th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.10). During the same quarter in the previous year, the business posted ($0.31) EPS. As a group, sell-side analysts forecast that Mineralys Therapeutics, Inc. will post -3.08 earnings per share for the current year.

Insider Transactions at Mineralys Therapeutics

In related news, Director Brian Taylor Slingsby sold 550,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $13.05, for a total transaction of $7,177,500.00. Following the transaction, the director now owns 8,644,579 shares in the company, valued at approximately $112,811,755.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Brian Taylor Slingsby sold 550,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $13.05, for a total value of $7,177,500.00. Following the completion of the transaction, the director now directly owns 8,644,579 shares of the company’s stock, valued at $112,811,755.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Adam Scott Levy sold 10,757 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $13.14, for a total transaction of $141,346.98. Following the completion of the transaction, the chief financial officer now directly owns 247,611 shares of the company’s stock, valued at $3,253,608.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 577,028 shares of company stock valued at $7,536,774. 33.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Nantahala Capital Management LLC increased its holdings in Mineralys Therapeutics by 60.1% in the 2nd quarter. Nantahala Capital Management LLC now owns 532,506 shares of the company’s stock worth $6,230,000 after acquiring an additional 200,000 shares during the last quarter. Driehaus Capital Management LLC increased its stake in shares of Mineralys Therapeutics by 40.4% during the second quarter. Driehaus Capital Management LLC now owns 257,371 shares of the company’s stock valued at $3,011,000 after buying an additional 74,074 shares during the period. Lion Point Capital LP boosted its position in shares of Mineralys Therapeutics by 31.7% during the second quarter. Lion Point Capital LP now owns 79,000 shares of the company’s stock valued at $924,000 after purchasing an additional 19,000 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Mineralys Therapeutics during the second quarter valued at approximately $145,000. Finally, Renaissance Technologies LLC boosted its position in shares of Mineralys Therapeutics by 95.0% during the second quarter. Renaissance Technologies LLC now owns 61,800 shares of the company’s stock valued at $723,000 after purchasing an additional 30,100 shares in the last quarter. 84.46% of the stock is currently 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.