Mineralys Therapeutics (NASDAQ:MLYS) Trading Down 3.5% – Time to Sell?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) fell 3.5% during mid-day trading on Monday . The stock traded as low as $16.49 and last traded at $16.28. 613,262 shares changed hands during mid-day trading, an increase of 88% from the average session volume of 326,909 shares. The stock had previously closed at $16.87.

Analysts Set New Price Targets

Several analysts have weighed in on MLYS shares. The Goldman Sachs Group dropped their price target on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Guggenheim reiterated a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th. Finally, HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Mineralys Therapeutics in a research report on Monday, March 10th.

Mineralys Therapeutics Trading Down 3.8 %

The firm’s fifty day moving average price is $11.15 and its two-hundred day moving average price is $12.13. The stock has a market capitalization of $1.01 billion, a PE ratio of -4.44 and a beta of 1.50.

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

Insider Buying and Selling at Mineralys Therapeutics

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

Institutional Investors Weigh In On Mineralys Therapeutics

Several institutional investors have recently bought and sold shares of MLYS. Polar Asset Management Partners Inc. acquired a new stake in shares of Mineralys Therapeutics in the third quarter worth approximately $490,000. Jennison Associates LLC increased its stake in Mineralys Therapeutics by 55.4% during the fourth quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock worth $13,319,000 after acquiring an additional 385,726 shares during the last quarter. Barclays PLC raised its holdings in Mineralys Therapeutics by 281.8% in the 3rd quarter. Barclays PLC now owns 38,218 shares of the company’s stock valued at $463,000 after buying an additional 28,208 shares during the period. Wellington Management Group LLP purchased a new stake in Mineralys Therapeutics in the third quarter valued at approximately $775,000. Finally, State Street Corp lifted its stake in Mineralys Therapeutics by 4.0% during the third quarter. State Street Corp now owns 483,766 shares of the company’s stock worth $5,858,000 after purchasing an additional 18,627 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.