The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Mineralys Therapeutics Inc shares valued at $7,499,992 were purchased by Samsara BioCapital GP, LLC on Feb 12 ’24. At $13.50 per share, Samsara BioCapital GP, LLC acquired 555,555 shares. The insider’s holdings grew to 5,074,916 shares worth approximately $64.96 million following the completion of this transaction.
Also, Congleton Jon purchased 4,250 shares, netting a total of over 25,356 in proceeds. Following the buying of shares at $5.97 each, the insider now holds 1,049,068 shares.
Before that, Congleton Jon had added 2,250 shares to its account. In a trade valued at $27,180, the Chief Executive Officer bought Mineralys Therapeutics Inc shares for $12.08 each. Upon closing the transaction, the insider’s holdings increased to 2,250 shares, worth approximately $13.37 million.
As published in their initiating research note from Goldman on April 02, 2024, Mineralys Therapeutics Inc [MLYS] has been a Buy and the price target has been revised to $30. Analysts at Wells Fargo started covering the stock with ‘”an Overweight”‘ outlook in a report released in early March. As of March 07, 2023, Stifel has initiated its “Buy” rating for MLYS. Earlier on March 07, 2023, Guggenheim initiated its rating. Their recommendation was “a Buy” for MLYS stock.
Analyzing MLYS Stock Performance
During the last five days, there has been a surge of approximately 12.68%. Over the course of the year, Mineralys Therapeutics Inc shares have jumped approximately 48.84%. Shares of the company reached a 52-week high of $16.91 on 02/27/24 and a 52-week low of $7.95 on 01/18/24. A 50-day SMA is recorded $13.18, while a 200-day SMA reached $10.98. Nevertheless, trading volume fell to 0.37 million shares from 49600.0 shares the previous day.
Support And Resistance Levels for Mineralys Therapeutics Inc (MLYS)
According to the 24-hour chart, there is a support level at 12.30, which, if violated, would cause prices to drop to 11.79. In the upper region, resistance lies at 13.42. The next price resistance is at 14.03. RSI (Relative Strength Index) is 55.23 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.64, which suggests the price will decrease in the coming days. Percent R is at 23.10%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
