Mineralys Therapeutics (NASDAQ:MLYS) Stock Price Down 3.8% – What’s Next?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) shares dropped 3.8% on Wednesday . The stock traded as low as $11.88 and last traded at $11.88. Approximately 1,695 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 178,093 shares. The stock had previously closed at $12.35.

Analyst Ratings Changes

Separately, HC Wainwright reiterated 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 Stock Up 1.6 %

The stock has a market capitalization of $588.77 million, a P/E ratio of -3.62 and a beta of 1.55. The firm has a 50-day moving average of $13.12 and a 200 day moving average of $12.57.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly 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 quarter in the previous year, the company posted ($0.57) earnings per share. Analysts predict that Mineralys Therapeutics, Inc. will post -3.63 EPS for the current fiscal year.

Insider Transactions at Mineralys Therapeutics

In related news, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction on Friday, October 11th. The stock was sold at an average price of $13.57, for a total transaction of $145,972.49. Following the completion of the sale, the chief financial officer now directly owns 236,854 shares of the company’s stock, valued at $3,214,108.78. The trade was a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David Malcom Rodman sold 25,482 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $15.03, for a total value of $382,994.46. Following the completion of the transaction, the insider now directly owns 135,974 shares in the company, valued at $2,043,689.22. The trade was a 15.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,510 shares of company stock valued at $735,431. Corporate insiders own 33.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. increased its position in shares of Mineralys Therapeutics by 17.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company’s stock valued at $21,138,000 after buying an additional 262,922 shares in the last quarter. Caligan Partners LP grew its stake in Mineralys Therapeutics by 31.6% in the third quarter. Caligan Partners LP now owns 981,155 shares of the company’s stock valued at $11,882,000 after acquiring an additional 235,397 shares during the period. Nantahala Capital Management LLC increased its holdings in shares of Mineralys Therapeutics by 60.1% in the second quarter. Nantahala Capital Management LLC now owns 532,506 shares of the company’s stock worth $6,230,000 after acquiring an additional 200,000 shares in the last quarter. Ikarian Capital LLC acquired a new stake in shares of Mineralys Therapeutics during the third quarter worth about $2,180,000. Finally, Driehaus Capital Management LLC lifted its holdings in shares of Mineralys Therapeutics by 40.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 257,371 shares of the company’s stock valued at $3,011,000 after purchasing an additional 74,074 shares in the last quarter. Institutional investors and hedge funds 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.