Mineralys Therapeutics, Inc. (NASDAQ:MLYS – Get Rating) shares traded down 7.7% during mid-day trading on Tuesday . The company traded as low as $13.71 and last traded at $13.71. 56,476 shares changed hands during trading, a decline of 82% from the average session volume of 305,858 shares. The stock had previously closed at $14.85.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Bank of America began coverage on shares of Mineralys Therapeutics in a research report on Tuesday, March 7th. They set a "buy" rating and a $39.00 target price for the company. Wells Fargo & Company began coverage on Mineralys Therapeutics in a report on Tuesday, March 7th. They issued an "overweight" rating and a $27.00 price target for the company. Evercore ISI began coverage on Mineralys Therapeutics in a report on Tuesday, March 7th. They issued an "outperform" rating for the company. Credit Suisse Group decreased their price target on Mineralys Therapeutics from $40.00 to $38.00 and set an "outperform" rating for the company in a report on Thursday, March 16th. Finally, Stifel Nicolaus initiated coverage on Mineralys Therapeutics in a report on Tuesday, March 7th. They issued a "buy" rating and a $45.00 price target for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $36.20.

Mineralys Therapeutics Price Performance

Insider Activity at Mineralys Therapeutics

In other news, Director Ra Capital Management, L.P. purchased 1,250,000 shares of the company's stock in a transaction that occurred on Tuesday, February 14th. The shares were acquired at an average cost of $16.00 per share, with a total value of $20,000,000.00. Following the transaction, the director now owns 1,867,229 shares in the company, valued at approximately $29,875,664. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Ra Capital Management, L.P. purchased 1,250,000 shares of the company's stock in a transaction that occurred on Tuesday, February 14th. The shares were acquired at an average cost of $16.00 per share, with a total value of $20,000,000.00. Following the transaction, the director now owns 1,867,229 shares in the company, valued at approximately $29,875,664. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Adam Scott Levy purchased 6,250 shares of the company's stock in a transaction that occurred on Tuesday, February 14th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the chief financial officer now owns 350,811 shares in the company, valued at approximately $5,612,976. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 1,568,750 shares of company stock valued at $25,100,000.

About Mineralys Therapeutics

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Mineralys Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing medicines to target diseases driven by abnormally elevated aldosterone. Mineralys Therapeutics Inc is based in RADNOR, Pa.

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