Stock Traders Buy Large Volume of Put Options on Mineralys Therapeutics (NASDAQ:MLYS)

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) was the recipient of some unusual options trading on Friday. Investors bought 92,406 put options on the company. This represents an increase of 3,057% compared to the typical daily volume of 2,927 put options.

Insider Transactions at Mineralys Therapeutics

In other news, CEO Jon Congleton sold 200,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $45.44, for a total transaction of $9,088,000.00. Following the completion of the sale, the chief executive officer owned 631,305 shares in the company, valued at $28,686,499.20. The trade was a 24.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David Malcom Rodman sold 192,715 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $35.02, for a total value of $6,748,879.30. Following the transaction, the insider directly owned 61,804 shares in the company, valued at $2,164,376.08. This trade represents a 75.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,686,955 shares of company stock worth $71,118,551. Corporate insiders own 25.56% of the company’s stock.

Institutional Trading of Mineralys Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. RA Capital Management L.P. boosted its stake in shares of Mineralys Therapeutics by 19.1% during the 3rd 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 period. Vanguard Group Inc. lifted its holdings in Mineralys Therapeutics by 11.1% during the 4th quarter. Vanguard Group Inc. now owns 3,352,880 shares of the company’s stock valued at $121,676,000 after purchasing an additional 333,881 shares during the last quarter. Caligan Partners LP boosted its position in Mineralys Therapeutics by 37.4% during the third 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 period. Suvretta Capital Management LLC increased its holdings in shares of 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 last quarter. Finally, Franklin Resources Inc. increased 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 purchasing an additional 6,171 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MLYS. Stifel Nicolaus boosted their price target on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Wells Fargo & Company upped their target price on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. HC Wainwright raised their price target on Mineralys Therapeutics from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Mineralys Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.43.

Mineralys Therapeutics Stock Up 5.5%

MLYS opened at $29.77 on Friday. The stock has a market cap of $2.36 billion, a P/E ratio of -10.09 and a beta of 0.51. The company has a fifty day simple moving average of $34.86 and a 200 day simple moving average of $32.99. Mineralys Therapeutics has a 12 month low of $8.24 and a 12 month high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.14. On average, equities research analysts expect that Mineralys Therapeutics will post -4.23 earnings per share for the current fiscal year.

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.