HC Wainwright Has Negative Forecast for MLYS FY2024 Earnings

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) – HC Wainwright cut their FY2024 earnings per share estimates for shares of Mineralys Therapeutics in a report issued on Tuesday, November 12th. HC Wainwright analyst M. Caufield now anticipates that the company will earn ($3.83) per share for the year, down from their prior forecast of ($3.22). HC Wainwright has a “Buy” rating and a $30.00 price objective on the stock. The consensus estimate for Mineralys Therapeutics’ current full-year earnings is ($3.50) per share. HC Wainwright also issued estimates for Mineralys Therapeutics’ Q4 2024 earnings at ($1.14) EPS, FY2025 earnings at ($4.10) EPS, FY2026 earnings at ($3.41) EPS, FY2027 earnings at ($3.54) EPS and FY2028 earnings at ($1.85) EPS.

Mineralys Therapeutics Stock Down 5.7 %

Shares of MLYS stock opened at $11.48 on Thursday. The business has a 50-day moving average price of $12.99 and a two-hundred day moving average price of $12.65. Mineralys Therapeutics has a 12-month low of $5.85 and a 12-month high of $16.91. The firm has a market cap of $571.36 million, a P/E ratio of -3.62 and a beta of 1.71.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data on Monday, November 11th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.30). During the same period in the prior year, the company earned ($0.57) EPS.

Institutional Trading of Mineralys Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of MLYS. RA Capital Management L.P. increased its stake in shares of Mineralys Therapeutics by 52.6% in the first quarter. RA Capital Management L.P. now owns 4,850,984 shares of the company’s stock worth $62,626,000 after buying an additional 1,672,508 shares during the period. Affinity Asset Advisors LLC bought a new stake in Mineralys Therapeutics in the 1st quarter worth $4,234,000. Caligan Partners LP grew its holdings in Mineralys Therapeutics by 31.6% in the 3rd quarter. Caligan Partners LP now owns 981,155 shares of the company’s stock worth $11,882,000 after acquiring an additional 235,397 shares during the last quarter. SR One Capital Management LP increased its position in shares of Mineralys Therapeutics by 12.4% in the first quarter. SR One Capital Management LP now owns 2,016,822 shares of the company’s stock valued at $26,037,000 after acquiring an additional 222,222 shares during the period. Finally, Nantahala Capital Management LLC raised its stake in shares of Mineralys Therapeutics by 60.1% during the second quarter. Nantahala Capital Management LLC now owns 532,506 shares of the company’s stock valued at $6,230,000 after acquiring an additional 200,000 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Insider Buying and Selling

In other news, insider David Malcom Rodman sold 25,482 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $15.03, for a total transaction of $382,994.46. Following the transaction, the insider now directly owns 135,974 shares of the company’s stock, valued at approximately $2,043,689.22. This trade represents a 15.78 % decrease in their ownership of the stock. 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 Mineralys Therapeutics stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $13.57, for a total value of $145,972.49. Following the completion of the transaction, the chief financial officer now owns 236,854 shares in the company, valued at approximately $3,214,108.78. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,510 shares of company stock worth $735,431 in the last quarter. 33.24% of the stock is owned by insiders.

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.