Mineralys Therapeutics, Inc. (NASDAQ:MLYS) to Post Q3 2024 Earnings of ($0.85) Per Share, Lifesci Capital Forecasts

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) – Research analysts at Lifesci Capital cut their Q3 2024 earnings per share (EPS) estimates for shares of Mineralys Therapeutics in a research report issued to clients and investors on Tuesday, August 13th. Lifesci Capital analyst R. Katkhuda now forecasts that the company will post earnings of ($0.85) per share for the quarter, down from their prior estimate of ($0.75). The consensus estimate for Mineralys Therapeutics’ current full-year earnings is ($2.92) per share. Lifesci Capital also issued estimates for Mineralys Therapeutics’ Q4 2024 earnings at ($0.88) EPS and FY2024 earnings at ($3.28) EPS.

Separately, HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Mineralys Therapeutics in a report on Thursday.

Mineralys Therapeutics Stock Performance

NASDAQ MLYS opened at $9.81 on Friday. Mineralys Therapeutics has a 52-week low of $5.85 and a 52-week high of $16.91. The stock has a market cap of $487.06 million, a PE ratio of -4.48 and a beta of 1.93. The firm has a 50-day moving average of $12.35 and a 200-day moving average of $12.92.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.10). During the same period in the previous year, the company earned ($0.31) EPS.

Hedge Funds Weigh In On Mineralys Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MLYS. PNC Financial Services Group Inc. increased its position in shares of Mineralys Therapeutics by 17,821.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,122 shares of the company’s stock worth $35,000 after purchasing an additional 4,099 shares during the period. CWM LLC increased its holdings in Mineralys Therapeutics by 120.0% in the 4th quarter. CWM LLC now owns 5,891 shares of the company’s stock valued at $51,000 after buying an additional 3,213 shares during the period. China Universal Asset Management Co. Ltd. raised its position in shares of Mineralys Therapeutics by 67.0% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 7,931 shares of the company’s stock valued at $102,000 after buying an additional 3,181 shares in the last quarter. Bellevue Group AG bought a new stake in shares of Mineralys Therapeutics during the 1st quarter worth approximately $119,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Mineralys Therapeutics during the 4th quarter worth approximately $87,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Mineralys Therapeutics

In other news, CEO Jon Congleton sold 16,607 shares of Mineralys Therapeutics stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $12.77, for a total transaction of $212,071.39. Following the completion of the sale, the chief executive officer now owns 1,032,461 shares of the company’s stock, valued at $13,184,526.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $13.14, for a total value of $141,346.98. Following the completion of the sale, the chief financial officer now directly owns 247,611 shares in the company, valued at $3,253,608.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jon Congleton sold 16,607 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $12.77, for a total value of $212,071.39. Following the completion of the sale, the chief executive officer now owns 1,032,461 shares of the company’s stock, valued at $13,184,526.97. The disclosure for this sale can be found here. Insiders have sold a total of 706,679 shares of company stock valued at $9,204,818 in the last ninety days. 33.24% of the stock is currently owned by corporate insiders.

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.