Mineralys Therapeutics (NASDAQ:MLYS) Shares Gap Down – Time to Sell?

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) 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.

Wall Street Analyst Weigh In

MLYS has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Mineralys Therapeutics in a report on Monday. The Goldman Sachs Group reduced their price target on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Guggenheim restated a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, February 24th.

Mineralys Therapeutics Stock Down 5.8 %

The firm has a market cap of $670.99 million, a P/E ratio of -3.68 and a beta of 1.50. The business has a fifty day simple moving average of $10.35 and a 200-day simple moving average of $11.90.

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. On average, sell-side analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Insider Transactions at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 18,333 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $9.06, for a total value of $166,096.98. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Adam Scott Levy sold 10,757 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $9.10, for a total transaction 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 represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 33.24% of the company’s stock.

Institutional Investors Weigh In On Mineralys Therapeutics

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets bought a new position in Mineralys Therapeutics during the fourth quarter valued at approximately $48,000. ProShare Advisors LLC bought a new stake in shares of Mineralys Therapeutics during the 4th quarter valued at about $128,000. China Universal Asset Management Co. Ltd. increased its position in shares of Mineralys Therapeutics by 10.3% during the 4th 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 last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of Mineralys Therapeutics in the 4th quarter worth approximately $145,000. Finally, PDT Partners LLC purchased a new position in shares of Mineralys Therapeutics in the third quarter worth approximately $148,000. Hedge funds and other institutional investors 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.