Mineralys Therapeutics (NASDAQ:MLYS) Stock Price Down 4.1% – What’s Next?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS)’s stock price traded down 4.1% during trading on Thursday . The stock traded as low as $12.11 and last traded at $12.28. 6,387 shares traded hands during trading, a decline of 96% from the average session volume of 179,628 shares. The stock had previously closed at $12.80.

Wall Street Analyst Weigh In

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

Mineralys Therapeutics Price Performance

The firm’s fifty day moving average price is $12.97 and its 200-day moving average price is $12.55. The company has a market cap of $638.04 million, a price-to-earnings ratio of -3.92 and a beta of 1.55.

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

Insider Buying and Selling

In related news, CEO Jon Congleton sold 15,271 shares of Mineralys Therapeutics stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $13.52, for a total transaction of $206,463.92. Following the sale, the chief executive officer now directly owns 895,941 shares in the company, valued at $12,113,122.32. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Malcom Rodman sold 25,482 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $15.03, for a total transaction of $382,994.46. Following the completion of the transaction, the insider now owns 135,974 shares of the company’s stock, valued at $2,043,689.22. This represents a 15.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,510 shares of company stock valued at $735,431 in the last three months. 33.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in Mineralys Therapeutics in the third quarter worth approximately $110,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Mineralys Therapeutics by 64.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock valued at $116,000 after buying an additional 3,732 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Mineralys Therapeutics by 100.0% in the second quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock valued at $140,000 after buying an additional 6,000 shares during the period. PDT Partners LLC bought a new position in Mineralys Therapeutics during the third quarter valued at about $148,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Mineralys Therapeutics during the second quarter worth about $145,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.