Mineralys Therapeutics (NASDAQ:MLYS) Trading Down 3.7%

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) fell 3.7% during mid-day trading on Thursday . The stock traded as low as $11.19 and last traded at $11.55. 134,670 shares traded hands during trading, a decline of 14% from the average session volume of 156,938 shares. The stock had previously closed at $12.00.

Analyst Upgrades and Downgrades

MLYS has been the subject of a number of research reports. The Goldman Sachs Group began coverage on shares of Mineralys Therapeutics in a report on Tuesday, April 2nd. They issued a “buy” rating and a $30.00 price target for the company. Lifesci Capital reissued an “outperform” rating on shares of Mineralys Therapeutics in a report on Tuesday, March 26th.

Mineralys Therapeutics Stock Performance

The firm’s 50-day moving average price is $13.65 and its 200 day moving average price is $10.33.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.61) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.24. Research analysts expect that Mineralys Therapeutics, Inc. will post -2.44 earnings per share for the current year.

Insider Buying and Selling at Mineralys Therapeutics

In related news, major shareholder Samsara Biocapital Gp, Llc purchased 555,555 shares of the business’s stock in a transaction on Monday, February 12th. The shares were purchased at an average price of $13.50 per share, with a total value of $7,499,992.50. Following the completion of the purchase, the insider now owns 5,074,916 shares in the company, valued at approximately $68,511,366. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Institutional Trading of Mineralys Therapeutics

A number of institutional investors have recently made changes to their positions in MLYS. Catalys Pacific LLC bought a new stake in shares of Mineralys Therapeutics in the fourth quarter worth $79,073,000. Samsara BioCapital LLC bought a new stake in shares of Mineralys Therapeutics in the first quarter worth $70,773,000. Braidwell LP lifted its position in shares of Mineralys Therapeutics by 267.8% in the third quarter. Braidwell LP now owns 2,023,900 shares of the company’s stock worth $19,247,000 after purchasing an additional 1,473,600 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Mineralys Therapeutics in the first quarter worth $11,740,000. Finally, CHI Advisors LLC bought a new stake in shares of Mineralys Therapeutics in the third quarter worth $5,405,000. 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.