Mineralys Therapeutics (NASDAQ:MLYS) Shares Down 9.5% – Here’s Why

by · The Cerbat Gem

Mineralys Therapeutics, Inc. (NASDAQ:MLYS – Get Free Report)’s stock price traded down 9.5% on Tuesday . The company traded as low as $13.45 and last traded at $13.54. 1,279,112 shares changed hands during trading, an increase of 94% from the average session volume of 659,898 shares. The stock had previously closed at $14.96.

Analysts Set New Price Targets

A number of research firms recently commented on MLYS. The Goldman Sachs Group lowered their price target on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, February 13th. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Mineralys Therapeutics in a research note on Monday. Finally, Guggenheim reiterated a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, February 24th.

Check Out Our Latest Research Report on MLYS

Mineralys Therapeutics Price Performance

The company has a market capitalization of $672.79 million, a P/E ratio of -3.71 and a beta of 1.50. The stock’s 50 day moving average is $10.37 and its 200-day moving average is $11.91.

Mineralys Therapeutics (NASDAQ:MLYS – Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02. On average, equities research analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, CEO Jon Congleton sold 18,333 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $9.06, for a total value of $166,096.98. Following the completion of the transaction, the chief executive officer now owns 877,608 shares of the company’s stock, valued at approximately $7,951,128.48. The trade was a 2.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Adam Scott Levy sold 10,757 shares of the firm’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 sale, the chief financial officer now directly owns 226,097 shares in the company, valued at approximately $2,057,482.70. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. 33.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC increased its position in Mineralys Therapeutics by 1.9% during the third quarter. Jennison Associates LLC now owns 696,280 shares of the company’s stock valued at $8,432,000 after acquiring an additional 13,023 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Mineralys Therapeutics by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 213,599 shares of the company’s stock valued at $2,587,000 after purchasing an additional 9,664 shares during the last quarter. FMR LLC lifted its stake in shares of Mineralys Therapeutics by 12.0% in the 3rd quarter. FMR LLC now owns 303,758 shares of the company’s stock worth $3,679,000 after purchasing an additional 32,663 shares during the period. Martingale Asset Management L P purchased a new position in shares of Mineralys Therapeutics in the third quarter worth approximately $181,000. Finally, Verition Fund Management LLC grew its position in Mineralys Therapeutics by 30.6% during the third quarter. Verition Fund Management LLC now owns 27,361 shares of the company’s stock valued at $331,000 after buying an additional 6,408 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Mineralys Therapeutics Company Profile

(Get Free Report)

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.

See Also