Mineralys Therapeutics (NASDAQ:MLYS) Trading Down 4.1% – Here’s Why

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

Analyst Upgrades and Downgrades

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

Mineralys Therapeutics Price Performance

The firm has a market cap of $622.61 million, a PE ratio of -3.83 and a beta of 1.56. The stock has a 50-day moving average price of $13.02 and a 200 day moving average price of $12.55.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data 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 period last year, the firm posted ($0.57) EPS. As a group, equities research analysts anticipate that Mineralys Therapeutics, Inc. will post -3.63 earnings per share for the current year.

Insider Activity at Mineralys Therapeutics

In other news, insider David Malcom Rodman sold 25,482 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $15.03, for a total value of $382,994.46. Following the completion of the transaction, the insider now directly owns 135,974 shares in the company, valued at $2,043,689.22. This trade represents a 15.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 completion of the sale, the chief financial officer now owns 236,854 shares of the company’s stock, valued at approximately $3,214,108.78. This trade represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,510 shares of company stock worth $735,431. 33.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in shares of Mineralys Therapeutics by 72.5% during the second quarter. Bank of New York Mellon Corp now owns 84,762 shares of the company’s stock valued at $992,000 after purchasing an additional 35,634 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Mineralys Therapeutics by 82.1% in the second quarter. Rhumbline Advisers now owns 41,079 shares of the company’s stock worth $481,000 after buying an additional 18,519 shares during the period. American Century Companies Inc. increased its position in shares of Mineralys Therapeutics by 3.2% in the second quarter. American Century Companies Inc. now owns 743,140 shares of the company’s stock worth $8,695,000 after acquiring an additional 23,170 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Mineralys Therapeutics by 100.0% during the second quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock valued at $140,000 after acquiring an additional 6,000 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Mineralys Therapeutics by 95.0% in the 2nd quarter. Renaissance Technologies LLC now owns 61,800 shares of the company’s stock valued at $723,000 after acquiring an additional 30,100 shares in the last quarter. Institutional investors and hedge funds 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.