Mineralys Therapeutics (NASDAQ:MLYS) Stock Price Down 3.8% – What’s Next?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) shares were down 3.8% on Wednesday . The stock traded as low as $11.88 and last traded at $11.88. Approximately 1,695 shares changed hands during trading, a decline of 99% from the average daily volume of 178,093 shares. The stock had previously closed at $12.35.

Analysts Set New Price Targets

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

Mineralys Therapeutics Stock Performance

The company has a market capitalization of $614.65 million, a PE ratio of -3.78 and a beta of 1.55. The stock’s 50 day moving average is $13.19 and its 200 day moving average is $12.59.

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

Insider Transactions at Mineralys Therapeutics

In other news, CFO Adam Scott Levy sold 10,757 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $13.57, for a total value of $145,972.49. Following the transaction, the chief financial officer now owns 236,854 shares of the company’s stock, valued at approximately $3,214,108.78. This represents a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jon Congleton sold 15,271 shares of Mineralys Therapeutics stock in a transaction on Friday, October 11th. The shares were sold at an average price of $13.52, for a total value of $206,463.92. Following the sale, the chief executive officer now directly owns 895,941 shares of the company’s stock, valued at $12,113,122.32. This represents a 1.68 % 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 corporate insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its position in Mineralys Therapeutics by 17.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company’s stock worth $21,138,000 after buying an additional 262,922 shares during the last quarter. Caligan Partners LP grew 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 valued at $11,882,000 after purchasing an additional 235,397 shares during the last quarter. American Century Companies Inc. raised its position in Mineralys Therapeutics by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 743,140 shares of the company’s stock worth $8,695,000 after purchasing an additional 23,170 shares during the period. Jennison Associates LLC lifted its stake in Mineralys Therapeutics by 1.9% in the third quarter. Jennison Associates LLC now owns 696,280 shares of the company’s stock worth $8,432,000 after purchasing an additional 13,023 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Mineralys Therapeutics by 6.6% during the third quarter. Geode Capital Management LLC now owns 620,853 shares of the company’s stock valued at $7,520,000 after buying an additional 38,527 shares during the period. 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.