Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Major Shareholder Acquires $8,100,000.00 in Stock

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) major shareholder Samsara Biocapital Gp, Llc bought 600,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $13.50 per share, for a total transaction of $8,100,000.00. Following the completion of the acquisition, the insider now directly owns 5,674,916 shares in the company, valued at $76,611,366. The trade was a 11.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Mineralys Therapeutics Trading Up 8.6 %

Shares of Mineralys Therapeutics stock opened at $16.75 on Thursday. The company has a fifty day simple moving average of $10.61 and a 200-day simple moving average of $12.00. Mineralys Therapeutics, Inc. has a 12-month low of $8.24 and a 12-month high of $18.38. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -4.60 and a beta of 1.50.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.02. On average, analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new stake in shares of Mineralys Therapeutics in the fourth quarter valued at about $48,000. ProShare Advisors LLC acquired a new stake in shares of Mineralys Therapeutics in the 4th quarter worth approximately $128,000. China Universal Asset Management Co. Ltd. grew its holdings in Mineralys Therapeutics by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company’s stock valued at $130,000 after purchasing an additional 989 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Mineralys Therapeutics during the 4th quarter valued at about $145,000. Finally, PDT Partners LLC purchased a new position in shares of Mineralys Therapeutics during the 3rd quarter worth approximately $148,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

MLYS has been the topic of several recent analyst reports. Guggenheim reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Mineralys Therapeutics in a research note on Monday, March 10th. Finally, The Goldman Sachs Group lowered their price objective on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, February 13th.

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.