Insiders Are Spending Big: 15 Stocks Leading in March

3. Mineralys Therapeutics, Inc. (NASDAQ:MLYS)

Total Value of Insider Purchases in March: $33.7 million

Market Capitalization: $1.05 billion

Mineralys Therapeutics is a clinical-stage biopharmaceutical company that develops medicines targeting diseases caused by dysregulated aldosterone. Its main product, lorundrostat, is in Phase 2 trials for hypertension and chronic kidney disease, with a pivotal program for resistant hypertension. The biotech is based in Radnor, Pennsylvania and is also one of the 10 Pump and Dump Stocks Favored by Hedge Funds.

Mineralys Therapeutics recently reported positive results from two key hypertension trials for lorundrostat. The Launch-HTN trial showed a significant systolic blood pressure reduction of 9.1 mmHg at week 6, sustained through week 12, while the Advance-HTN trial, conducted with the Cleveland Clinic, demonstrated a 7.9 mmHg reduction at week 12. Lorundrostat was well-tolerated in both trials, with minimal impact on potassium levels.

In March, three insiders bought a total of $33.7 million worth of Mineralys Therapeutics shares at a price of $13.50 per share. Since the beginning of the year, the stock rose 36.07% and currently trades at $16.75. Over the past 12 months, Mineralys Therapeutics shares returned 25.09% to its investors.

According to four analysts, Mineralys Therapeutics has an average rating of “Buy” with a 12-month price target of $27.00. The average price target represents an upside of 61.19% from its last price, writes MarketBeat.