Mineralys Therapeutics (NASDAQ:MLYS) Shares Down 3.7% – Here’s What Happened

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) fell 3.7% on Thursday . The stock traded as low as $12.08 and last traded at $12.13. 79,914 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 179,840 shares. The stock had previously closed at $12.60.

Wall Street Analysts Forecast Growth

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

Mineralys Therapeutics Price Performance

The firm’s 50-day moving average is $13.03 and its 200-day moving average is $12.63.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Monday, November 11th. The company reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.30). During the same period in the prior year, the business posted ($0.57) EPS. Equities analysts forecast that Mineralys Therapeutics, Inc. will post -3.63 earnings per share for the current year.

Insider Activity

In related news, CEO Jon Congleton sold 15,271 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $13.52, for a total transaction of $206,463.92. Following the transaction, the chief executive officer now directly owns 895,941 shares in the company, valued at approximately $12,113,122.32. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Malcom Rodman sold 25,482 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $15.03, for a total transaction of $382,994.46. Following the completion of the sale, the insider now directly owns 135,974 shares of the company’s stock, valued at $2,043,689.22. The trade was a 15.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,510 shares of company stock worth $735,431 over the last 90 days. 33.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in Mineralys Therapeutics during the third quarter worth $110,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Mineralys Therapeutics by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock worth $116,000 after buying an additional 3,732 shares during the last quarter. Bellevue Group AG bought a new position in Mineralys Therapeutics during the first quarter valued at about $119,000. Federated Hermes Inc. increased its holdings in Mineralys Therapeutics by 100.0% during the second quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock worth $140,000 after buying an additional 6,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in Mineralys Therapeutics in the second quarter worth about $145,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

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.