Mineralys Therapeutics (NASDAQ:MLYS) Shares Down 9.6% – Here’s Why

Mineralys Therapeutics, Inc. (NASDAQ:MLYS)’s stock price fell 9.6% during trading on Wednesday . The stock traded as low as $11.63 and last traded at $11.73. 163,131 shares traded hands during mid-day trading, a decline of 8% from the average session volume of 177,245 shares. The stock had previously closed at $12.98.

Analysts Set New Price Targets

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

Mineralys Therapeutics Trading Down 11.9 %

The business has a fifty day moving average price of $12.64 and a two-hundred day moving average price of $12.53. The company has a market cap of $491.22 million, a price-to-earnings ratio of -3.02 and a beta of 1.49.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Monday, November 11th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.30). During the same quarter in the previous year, the firm earned ($0.57) EPS. On average, analysts anticipate that Mineralys Therapeutics, Inc. will post -3.63 EPS for the current year.

Insider Transactions at Mineralys Therapeutics

In other news, insider David Malcom Rodman sold 25,482 shares of the 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 transaction, the insider now owns 135,974 shares in the company, valued at $2,043,689.22. This represents a 15.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 33.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in shares of Mineralys Therapeutics during the 3rd quarter worth $110,000. China Universal Asset Management Co. Ltd. boosted its holdings in Mineralys Therapeutics by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock valued at $116,000 after acquiring an additional 3,732 shares during the period. Federated Hermes Inc. increased its stake 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 worth $140,000 after purchasing an additional 6,000 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of Mineralys Therapeutics in the second quarter worth about $145,000. Finally, PDT Partners LLC acquired a new position in shares of Mineralys Therapeutics during the 3rd quarter worth about $148,000. 84.46% of the stock is currently owned by institutional investors.

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.