Lifesci Capital Has Pessimistic View of MLYS FY2024 Earnings

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) – Research analysts at Lifesci Capital lowered their FY2024 earnings per share (EPS) estimates for Mineralys Therapeutics in a research note issued to investors on Tuesday, November 12th. Lifesci Capital analyst R. Katkhuda now expects that the company will earn ($3.87) per share for the year, down from their prior forecast of ($3.28). The consensus estimate for Mineralys Therapeutics’ current full-year earnings is ($3.08) per share. Lifesci Capital also issued estimates for Mineralys Therapeutics’ Q4 2024 earnings at ($1.17) EPS.

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

Mineralys Therapeutics Trading Down 7.0 %

Shares of NASDAQ MLYS opened at $12.45 on Thursday. Mineralys Therapeutics has a 12-month low of $5.85 and a 12-month high of $16.91. The firm’s 50-day moving average price is $12.98 and its 200-day moving average price is $12.65. The stock has a market capitalization of $619.10 million, a price-to-earnings ratio of -3.81 and a beta of 1.71.

Mineralys Therapeutics (NASDAQ:MLYS) last released 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 firm earned ($0.57) EPS.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. raised its stake in Mineralys Therapeutics by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock valued at $116,000 after purchasing an additional 3,732 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Mineralys Therapeutics by 0.5% during the first quarter. Vanguard Group Inc. now owns 982,932 shares of the company’s stock worth $12,690,000 after buying an additional 4,952 shares in the last quarter. Federated Hermes Inc. lifted its stake 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 buying an additional 6,000 shares during the period. SG Americas Securities LLC acquired a new stake in Mineralys Therapeutics during the third quarter worth approximately $110,000. Finally, Bellevue Group AG purchased a new stake in Mineralys Therapeutics in the 1st quarter worth approximately $119,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Mineralys Therapeutics

In related news, insider David Malcom Rodman sold 25,482 shares of the 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 owns 135,974 shares of the company’s stock, valued at approximately $2,043,689.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $13.57, for a total value of $145,972.49. Following the sale, the chief financial officer now owns 236,854 shares of the company’s stock, valued at approximately $3,214,108.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $382,994.46. Following the completion of the sale, the insider now owns 135,974 shares in the company, valued at $2,043,689.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,510 shares of company stock worth $735,431 over the last quarter. 33.24% of the stock is currently owned by company insiders.

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.