Mineralys Therapeutics (NASDAQ:MLYS) Stock Price Down 6.7%

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) traded down 6.7% during mid-day trading on Wednesday . The company traded as low as $11.22 and last traded at $11.35. 184,284 shares changed hands during trading, an increase of 16% from the average session volume of 159,126 shares. The stock had previously closed at $12.17.

Analyst Upgrades and Downgrades

MLYS has been the subject of a number of research reports. Lifesci Capital reissued an “outperform” rating on shares of Mineralys Therapeutics in a report on Tuesday, March 26th. The Goldman Sachs Group initiated coverage on shares of Mineralys Therapeutics in a research note on Tuesday, April 2nd. They issued a “buy” rating and a $30.00 target price for the company.

Mineralys Therapeutics Price Performance

The firm has a market capitalization of $568.49 million, a price-to-earnings ratio of -5.43 and a beta of 2.03. The business has a 50 day moving average of $12.59 and a 200 day moving average of $11.99.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.02). On average, sell-side analysts forecast that Mineralys Therapeutics, Inc. will post -2.94 EPS for the current fiscal year.

Insider Buying and Selling at Mineralys Therapeutics

In other news, CFO Adam Scott Levy sold 96,815 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $12.94, for a total value of $1,252,786.10. Following the completion of the transaction, the chief financial officer now directly owns 255,462 shares of the company’s stock, valued at approximately $3,305,678.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Jon Congleton sold 16,229 shares of Mineralys Therapeutics stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $12.52, for a total value of $203,187.08. Following the completion of the transaction, the chief executive officer now directly owns 976,271 shares of the company’s stock, valued at $12,222,912.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Adam Scott Levy sold 96,815 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $12.94, for a total transaction of $1,252,786.10. Following the transaction, the chief financial officer now owns 255,462 shares in the company, valued at approximately $3,305,678.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 129,751 shares of company stock valued at $1,669,545. 33.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. boosted its stake in shares of Mineralys Therapeutics by 8.3% in the 3rd quarter. Federated Hermes Inc. now owns 22,293 shares of the company’s stock valued at $212,000 after purchasing an additional 1,700 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Mineralys Therapeutics by 67.0% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 7,931 shares of the company’s stock worth $102,000 after acquiring an additional 3,181 shares during the period. CWM LLC raised its position in shares of Mineralys Therapeutics by 120.0% during the 4th quarter. CWM LLC now owns 5,891 shares of the company’s stock valued at $51,000 after acquiring an additional 3,213 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Mineralys Therapeutics by 17,821.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,122 shares of the company’s stock valued at $35,000 after purchasing an additional 4,099 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Mineralys Therapeutics by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 982,932 shares of the company’s stock worth $12,690,000 after purchasing an additional 4,952 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

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.