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

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) was the target of unusually large options trading activity on Tuesday. Traders acquired 23,052 put options on the company. This is an increase of 295% compared to the typical daily volume of 5,832 put options.

Mineralys Therapeutics Stock Down 2.5%

NASDAQ MLYS opened at $26.41 on Thursday. Mineralys Therapeutics has a fifty-two week low of $10.44 and a fifty-two week high of $47.65. The business has a fifty day moving average of $28.15 and a 200-day moving average of $35.11. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of -11.14 and a beta of 0.57.

Mineralys Therapeutics (NASDAQ:MLYS) last released its earnings results on Thursday, March 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.17. As a group, analysts anticipate that Mineralys Therapeutics will post -4.23 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on MLYS. Wall Street Zen upgraded Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Thursday, January 22nd. Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 price objective on shares of Mineralys Therapeutics in a research report on Friday, March 13th. HC Wainwright set a $56.00 price objective on shares of Mineralys Therapeutics and gave the company a “buy” rating in a research note on Tuesday, March 10th. Finally, Stifel Nicolaus raised their target price on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a report on Friday, December 19th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Mineralys Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $49.14.

Insider Transactions at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 16,236 shares of the business’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $32.62, for a total transaction of $529,618.32. Following the sale, the chief executive officer owned 639,151 shares of the company’s stock, valued at approximately $20,849,105.62. The trade was a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David Malcom Rodman sold 192,715 shares of Mineralys Therapeutics stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $35.02, for a total transaction of $6,748,879.30. Following the sale, the insider owned 61,804 shares of the company’s stock, valued at approximately $2,164,376.08. The trade was a 75.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 363,325 shares of company stock valued at $12,298,347 in the last ninety days. 25.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MLYS. Navalign LLC acquired a new stake in Mineralys Therapeutics in the 4th quarter worth about $33,000. Smartleaf Asset Management LLC increased its stake in shares of Mineralys Therapeutics by 198.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock valued at $40,000 after acquiring an additional 676 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Mineralys Therapeutics by 262.3% during the 4th quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock worth $56,000 after acquiring an additional 1,107 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Mineralys Therapeutics by 1,845.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock worth $76,000 after acquiring an additional 1,993 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Mineralys Therapeutics by 14,091.3% in the third quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock worth $124,000 after acquiring an additional 3,241 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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. 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.