Mineralys Therapeutics (NASDAQ:MLYS) Shares Gap Down – Here’s What Happened

Mineralys Therapeutics, Inc. (NASDAQ:MLYS)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $14.30, but opened at $12.59. Mineralys Therapeutics shares last traded at $13.25, with a volume of 2,172,308 shares.

Analysts Set New Price Targets

Several equities analysts have recently commented on MLYS shares. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Mineralys Therapeutics in a research note on Monday. Guggenheim reissued a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, February 24th. Finally, The Goldman Sachs Group lowered their price target on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, February 13th.

Mineralys Therapeutics Stock Performance

The company has a 50 day moving average of $10.39 and a two-hundred day moving average of $11.92. The stock has a market capitalization of $672.79 million, a PE ratio of -3.71 and a beta of 1.50.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02. As a group, research analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Insider Activity

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $9.10, for a total transaction of $97,888.70. Following the completion of the transaction, the chief financial officer now owns 226,097 shares in the company, valued at approximately $2,057,482.70. This trade represents a 4.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jon Congleton sold 18,333 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $9.06, for a total value of $166,096.98. Following the completion of the sale, the chief executive officer now owns 877,608 shares in the company, valued at $7,951,128.48. The trade was a 2.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 33.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MLYS. BNP Paribas Financial Markets purchased a new position in Mineralys Therapeutics during the fourth quarter worth approximately $48,000. ProShare Advisors LLC acquired a new stake in shares of Mineralys Therapeutics in the 4th quarter worth $128,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Mineralys Therapeutics by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company’s stock valued at $130,000 after purchasing an additional 989 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in Mineralys Therapeutics during the fourth quarter worth about $145,000. Finally, PDT Partners LLC purchased a new stake in shares of Mineralys Therapeutics in the 3rd quarter valued at approximately $148,000. 84.46% of the stock is currently owned by hedge funds and other 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.