Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS – Get Free Report) were down 7.1% during trading on Monday. The stock traded as low as $17.11 and last traded at $16.8860. 447,832 shares were traded during trading, a decline of 66% from the average session volume of 1,301,500 shares. The stock had previously closed at $18.18.
Wall Street Analysts Forecast Growth
MLYS has been the subject of a number of research reports. UBS Group assumed coverage on shares of Mineralys Therapeutics in a research note on Sunday, October 11th. They issued a “neutral” rating and a $29.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $56.00 target price on shares of Mineralys Therapeutics in a report on Monday, October 12th. Zacks Research upgraded shares of Mineralys Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, September 11th. Wall Street Zen downgraded shares of Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Thursday, October 15th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $45.50.
View Our Latest Stock Report on Mineralys Therapeutics
Mineralys Therapeutics Stock Up 2.8%
The firm has a market cap of $1.41 billion, a PE ratio of -3.77 and a beta of 0.83. The company has a debt-to-equity ratio of 0.18, a quick ratio of 34.46 and a current ratio of 34.46. The company’s 50-day simple moving average is $24.39 and its two-hundred day simple moving average is $26.86.
Mineralys Therapeutics (NASDAQ:MLYS – Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($2.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($2.30). On average, analysts predict that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Mineralys Therapeutics news, CEO Jon Congleton sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $25.46, for a total transaction of $1,909,500.00. Following the completion of the transaction, the chief executive officer owned 528,621 shares of the company’s stock, valued at $13,458,690.66. This represents a 12.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brian Slingsby sold 104,320 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $28.81, for a total value of $3,005,459.20. Following the completion of the sale, the director owned 7,805,718 shares of the company’s stock, valued at approximately $224,882,735.58. This trade represents a 1.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 199,365 shares of company stock valued at $5,461,854 over the last ninety days. Corporate insiders own 18.94% of the company’s stock.
Hedge Funds Weigh In On Mineralys Therapeutics
Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Mineralys Therapeutics in the 2nd quarter worth approximately $158,832,000. Orbimed Advisors LLC lifted its stake in shares of Mineralys Therapeutics by 109.4% in the 1st quarter. Orbimed Advisors LLC now owns 2,052,900 shares of the company’s stock valued at $55,613,000 after purchasing an additional 1,072,500 shares during the period. Bank of America Corp DE bought a new stake in shares of Mineralys Therapeutics during the second quarter valued at approximately $40,620,000. Jennison Associates LLC boosted its position in shares of Mineralys Therapeutics by 0.6% during the first quarter. Jennison Associates LLC now owns 1,266,174 shares of the company’s stock valued at $34,301,000 after purchasing an additional 7,521 shares in the last quarter. Finally, Nantahala Capital Management LLC bought a new stake in shares of Mineralys Therapeutics during the second quarter valued at approximately $22,136,577. 84.46% of the stock is owned by hedge funds and other institutional investors.
Mineralys Therapeutics Company Profile
Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cardiovascular and kidney diseases associated with excess aldosterone activity. The company’s research centers on selectively targeting aldosterone production, a mechanism involved in blood-pressure regulation and organ damage.
Mineralys’ lead product candidate is lorundrostat, an oral, selective aldosterone synthase inhibitor being evaluated as a potential treatment for uncontrolled and resistant hypertension.
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