Mineralys Therapeutics (NASDAQ:MLYS) Shares Up 9.9% – What's Next?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS )'s stock price shot up 9.9% on Tuesday . The company traded as high as $30.98 and last traded at $31.0070. 816,402 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 1,248,751 shares. The stock had previously closed at $28.21. MLYS has been the topic of a number of analyst reports. Wall Street Zen lowered Mineralys Therapeutics from a 'sell' rating to a 'strong sell' rating in a report on Saturday, August 15th. Jefferies Financial Group reiterated a 'hold' rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Zacks Research downgraded shares of Mineralys Therapeutics from a 'hold' rating to a 'strong sell' rating in a report on Thursday, August 13th. Weiss Ratings reissued a 'sell (d-)' rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. Finally, HC Wainwright restated a 'buy' rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of 'Hold' and an average target price of $49.33. Read Our Latest Stock Report on MLYS Mineralys Therapeutics (NASDAQ:MLYS ) last issued its earnings results on Wednesday, August 12th. The company reported ($2.85) EPS for the quarter, missing analysts' consensus estimates of ($0.55) by ($2.30). Analysts anticipate that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current year. In other news, Director Daphne Karydas sold 3,000 shares of the firm's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $25.00, for a total transaction of $75,000.00. Following the completion of the transaction, the director directly owned 6,200 shares of the company's stock, valued at approximately $155,000. This trade represents a 32.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 104,124 shares of Mineralys Therapeutics stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $25.90, for a total transaction of $2,696,811.60. Following the sale, the insider owned 38,400 shares in the company, valued at approximately $994,560. This trade represents a 73.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 224,333 shares of company stock worth $5,806,213. Corporate insiders own 18.94% of the company's stock. Several large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Mineralys Therapeutics in the 2nd quarter worth approximately $158,832,000. State Street Corp grew its position in Mineralys Therapeutics by 144.4% in the fourth quarter. State Street Corp now owns 3,184,999 shares of the company's stock valued at $115,584,000 after acquiring an additional 1,881,976 shares during the period. California State Teachers Retirement System grew its position in Mineralys Therapeutics by 2,860.2% in the second quarter. California State Teachers Retirement System now owns 1,813,623 shares of the company's stock valued at $48,932,000 after acquiring an additional 1,752,357 shares during the period. Bank of America Corp DE acquired a new position in Mineralys Therapeutics during the second quarter worth $40,620,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Mineralys Therapeutics by 6,097.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,325,120 shares of the company's stock worth $48,089,000 after acquiring an additional 1,303,737 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors. 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.