Mineralys Therapeutics (NASDAQ:MLYS) Posts Earnings Results, Beats Expectations By $0.02 EPS

Mineralys Therapeutics (NASDAQ:MLYS) issued its quarterly earnings results on Wednesday. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02, Zacks reports.

Mineralys Therapeutics Stock Up 4.6 %

MLYS stock traded up $0.45 during midday trading on Wednesday, reaching $10.11. The company had a trading volume of 67,507 shares, compared to its average volume of 256,210. The firm has a market capitalization of $503.12 million, a PE ratio of -3.06 and a beta of 1.44. The stock has a 50 day moving average price of $11.31 and a 200 day moving average price of $12.06. Mineralys Therapeutics has a fifty-two week low of $8.58 and a fifty-two week high of $16.91.

Analysts Set New Price Targets

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

Insider Transactions at Mineralys Therapeutics

In other news, CFO Adam Scott Levy sold 10,757 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $9.10, for a total transaction of $97,888.70. Following the completion of the transaction, the chief financial officer now owns 226,097 shares in the company, valued at approximately $2,057,482.70. This represents a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jon Congleton sold 18,333 shares of Mineralys Therapeutics stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $9.06, for a total transaction of $166,096.98. Following the completion of the sale, the chief executive officer now owns 877,608 shares in the company, valued at approximately $7,951,128.48. This represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 33.24% of the company’s stock.

Mineralys Therapeutics Company Profile

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.