Mineralys Therapeutics (NASDAQ:MLYS) Trading Down 5.6% – Should You Sell?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS)’s stock price fell 5.6% on Wednesday . The stock traded as low as $10.88 and last traded at $11.12. 102,711 shares changed hands during trading, a decline of 74% from the average session volume of 392,812 shares. The stock had previously closed at $11.77.

Wall Street Analysts Forecast Growth

MLYS has been the subject of a number of research reports. The Goldman Sachs Group decreased their price objective on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. HC Wainwright boosted their price objective on shares of Mineralys Therapeutics from $30.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, April 2nd. Finally, Guggenheim reiterated a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th.

Mineralys Therapeutics Trading Up 9.9 %

The firm has a 50-day simple moving average of $12.15 and a two-hundred day simple moving average of $12.30. The company has a market capitalization of $841.32 million, a price-to-earnings ratio of -3.68 and a beta of -0.39.

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

Insider Activity 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 transaction, the chief financial officer now owns 226,097 shares in the company, valued at $2,057,482.70. This trade represents a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ra Capital Management, L.P. purchased 1,296,296 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $13.50 per share, with a total value of $17,499,996.00. Following the completion of the acquisition, the director now directly owns 4,280,051 shares of the company’s stock, valued at approximately $57,780,688.50. This trade represents a 43.45 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 84,861 shares of company stock valued at $1,142,937. Insiders own 33.24% of the company’s stock.

Hedge Funds Weigh In On Mineralys Therapeutics

Several large investors have recently made changes to their positions in the business. Jennison Associates LLC increased its position in Mineralys Therapeutics by 55.4% in the 4th quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock worth $13,319,000 after buying an additional 385,726 shares during the period. Barclays PLC grew its stake in shares of Mineralys Therapeutics by 281.8% in the third quarter. Barclays PLC now owns 38,218 shares of the company’s stock worth $463,000 after acquiring an additional 28,208 shares during the last quarter. Wellington Management Group LLP bought a new position in Mineralys Therapeutics during the third quarter worth $775,000. Proficio Capital Partners LLC acquired a new position in Mineralys Therapeutics during the 4th quarter valued at $285,000. Finally, State Street Corp boosted its holdings in Mineralys Therapeutics by 4.0% in the 3rd quarter. State Street Corp now owns 483,766 shares of the company’s stock valued at $5,858,000 after purchasing an additional 18,627 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.