Mineralys Therapeutics Target of Unusually High Options Trading (NASDAQ:MLYS)

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) was the recipient of unusually large options trading activity on Wednesday. Traders acquired 91,940 put options on the stock. This is an increase of 4,429% compared to the average volume of 2,030 put options.

Analyst Upgrades and Downgrades

A number of research firms have commented on MLYS. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. HC Wainwright increased their target price on Mineralys Therapeutics from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Finally, Stifel Nicolaus raised their target price on Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a report on Friday, December 19th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.43.

Mineralys Therapeutics Trading Down 6.3%

NASDAQ:MLYS opened at $33.13 on Friday. Mineralys Therapeutics has a 12-month low of $8.24 and a 12-month high of $47.65. The firm has a market cap of $2.62 billion, a PE ratio of -11.23 and a beta of 0.49. The stock has a fifty day moving average price of $39.15 and a 200 day moving average price of $30.26.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.14. Equities analysts forecast that Mineralys Therapeutics will post -4.23 EPS for the current year.

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, CEO Jon Congleton sold 200,000 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $45.44, for a total value of $9,088,000.00. Following the completion of the sale, the chief executive officer owned 631,305 shares in the company, valued at approximately $28,686,499.20. This represents a 24.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Malcom Rodman sold 192,715 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $35.02, for a total value of $6,748,879.30. Following the transaction, the insider owned 61,804 shares in the company, valued at approximately $2,164,376.08. This represents a 75.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,668,178 shares of company stock worth $70,871,538 in the last 90 days. 25.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MLYS. RA Capital Management L.P. grew its position in shares of Mineralys Therapeutics by 19.1% during the third quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company’s stock worth $277,717,000 after acquiring an additional 1,176,470 shares during the last quarter. Vanguard Group Inc. boosted its stake in Mineralys Therapeutics by 29.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,018,999 shares of the company’s stock worth $114,480,000 after purchasing an additional 692,550 shares during the period. Caligan Partners LP grew its position in Mineralys Therapeutics by 37.4% during the 3rd quarter. Caligan Partners LP now owns 2,772,654 shares of the company’s stock worth $105,139,000 after purchasing an additional 755,302 shares during the last quarter. Suvretta Capital Management LLC increased its stake in Mineralys Therapeutics by 22.2% in the third quarter. Suvretta Capital Management LLC now owns 2,132,133 shares of the company’s stock valued at $80,850,000 after purchasing an additional 387,641 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of Mineralys Therapeutics by 0.3% in the third quarter. Franklin Resources Inc. now owns 1,809,768 shares of the company’s stock valued at $68,626,000 after buying an additional 6,171 shares during 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. The company was formerly known as Catalys SC1, Inc and changed its name to Mineralys Therapeutics, Inc in May 2020. The company was incorporated in 2019 and is headquartered in Radnor, Pennsylvania.