Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Sees Large Growth in Short Interest

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 4,710,000 shares, an increase of 112.2% from the March 15th total of 2,220,000 shares. Based on an average trading volume of 1,020,000 shares, the short-interest ratio is presently 4.6 days. Approximately 12.7% of the company’s shares are short sold.

Insider Transactions at Mineralys Therapeutics

In other news, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $12.06, for a total value of $129,729.42. Following the completion of the sale, the chief financial officer now directly owns 215,340 shares in the company, valued at approximately $2,597,000.40. The trade was a 4.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Malcom Rodman sold 55,771 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $15.76, for a total value of $878,950.96. Following the completion of the sale, the insider now directly owns 116,704 shares of the company’s stock, valued at approximately $1,839,255.04. The trade was a 32.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,213 shares of company stock valued at $1,360,567 over the last ninety days. Corporate insiders own 33.24% of the company’s stock.

Institutional Investors Weigh In On Mineralys Therapeutics

Hedge funds have recently modified their holdings of the stock. State Street Corp grew its position in Mineralys Therapeutics by 4.0% during the third quarter. State Street Corp now owns 483,766 shares of the company’s stock worth $5,858,000 after buying an additional 18,627 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Mineralys Therapeutics in the 3rd quarter valued at about $775,000. Barclays PLC lifted its position in Mineralys Therapeutics by 281.8% during the 3rd quarter. Barclays PLC now owns 38,218 shares of the company’s stock worth $463,000 after buying an additional 28,208 shares in the last quarter. Geode Capital Management LLC lifted its stake in Mineralys Therapeutics by 6.6% in the 3rd quarter. Geode Capital Management LLC now owns 620,853 shares of the company’s stock valued at $7,520,000 after purchasing an additional 38,527 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Mineralys Therapeutics by 17.7% during the third quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company’s stock worth $21,138,000 after acquiring an additional 262,922 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. HC Wainwright upped their price objective on Mineralys Therapeutics from $30.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 2nd. The Goldman Sachs Group reduced their price target on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Guggenheim reissued a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, February 24th.

Mineralys Therapeutics Stock Down 5.6 %

NASDAQ:MLYS traded down $0.78 during midday trading on Wednesday, reaching $13.10. The stock had a trading volume of 117,697 shares, compared to its average volume of 412,492. The firm has a fifty day simple moving average of $12.36 and a two-hundred day simple moving average of $12.34. Mineralys Therapeutics has a 12-month low of $8.24 and a 12-month high of $18.38. The stock has a market cap of $822.48 million, a P/E ratio of -3.60 and a beta of -0.39.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02. On average, sell-side analysts anticipate 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.