Mineralys Therapeutics (NASDAQ:MLYS) Trading Down 3.7% – What’s Next?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) shares dropped 3.7% on Thursday . The company traded as low as $12.08 and last traded at $12.13. Approximately 79,914 shares changed hands during trading, a decline of 56% from the average daily volume of 179,840 shares. The stock had previously closed at $12.60.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Mineralys Therapeutics in a research report on Tuesday, November 12th.

Mineralys Therapeutics Price Performance

The stock has a market capitalization of $600.23 million, a PE ratio of -3.85 and a beta of 1.71. The company has a 50-day moving average of $13.03 and a two-hundred day moving average of $12.63.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings data on Monday, November 11th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.30). During the same quarter in the prior year, the business earned ($0.57) EPS. On average, research analysts forecast that Mineralys Therapeutics, Inc. will post -3.63 EPS for the current fiscal year.

Insider Transactions at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 15,271 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $13.52, for a total transaction of $206,463.92. Following the sale, the chief executive officer now owns 895,941 shares of the company’s stock, valued at $12,113,122.32. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $13.57, for a total transaction of $145,972.49. Following the completion of the transaction, the chief financial officer now owns 236,854 shares in the company, valued at approximately $3,214,108.78. This trade represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,510 shares of company stock valued at $735,431. 33.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RA Capital Management L.P. lifted its position in Mineralys Therapeutics by 52.6% during the 1st quarter. RA Capital Management L.P. now owns 4,850,984 shares of the company’s stock worth $62,626,000 after acquiring an additional 1,672,508 shares during the last quarter. Vanguard Group Inc. increased its position in Mineralys Therapeutics by 0.5% during the first quarter. Vanguard Group Inc. now owns 982,932 shares of the company’s stock worth $12,690,000 after acquiring an additional 4,952 shares during the period. Caligan Partners LP increased its holdings in shares of Mineralys Therapeutics by 31.6% during the 3rd quarter. Caligan Partners LP now owns 981,155 shares of the company’s stock worth $11,882,000 after purchasing an additional 235,397 shares during the period. American Century Companies Inc. raised its holdings in Mineralys Therapeutics by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 743,140 shares of the company’s stock valued at $8,695,000 after acquiring an additional 23,170 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in Mineralys Therapeutics by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 696,280 shares of the company’s stock valued at $8,432,000 after buying an additional 13,023 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

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.