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

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

Wall Street Analysts Forecast Growth

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

Mineralys Therapeutics Stock Performance

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

Mineralys Therapeutics (NASDAQ:MLYS) last announced its 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 business posted ($0.57) earnings per share. Sell-side analysts anticipate that Mineralys Therapeutics, Inc. will post -3.63 earnings per share for the current year.

Insiders Place Their Bets

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 25,482 shares of the firm’s stock in a transaction on 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 directly owns 135,974 shares of the company’s stock, valued at $2,043,689.22. This trade represents a 15.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jon Congleton sold 15,271 shares of the company’s 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 completion of the sale, the chief executive officer now owns 895,941 shares in the company, valued at approximately $12,113,122.32. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,510 shares of company stock worth $735,431 in the last three months. 33.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Franklin Resources Inc. raised its position in shares of Mineralys Therapeutics by 17.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company’s stock valued at $21,138,000 after acquiring an additional 262,922 shares in the last quarter. Caligan Partners LP increased its stake in Mineralys Therapeutics by 31.6% during the third 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. Nantahala Capital Management LLC raised its holdings 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 worth $6,230,000 after purchasing an additional 200,000 shares during the period. Ikarian Capital LLC acquired a new stake in shares of Mineralys Therapeutics during the third quarter worth $2,180,000. Finally, Driehaus Capital Management LLC lifted its position in shares of Mineralys Therapeutics by 40.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 257,371 shares of the company’s stock worth $3,011,000 after buying an additional 74,074 shares during the last quarter. Institutional investors 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.