Mineralys Therapeutics (NASDAQ:MLYS) Shares Down 4.5% – Should You Sell?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS)’s share price traded down 4.5% on Monday . The stock traded as low as $13.78 and last traded at $13.67. 448,285 shares changed hands during mid-day trading, a decline of 12% from the average session volume of 510,065 shares. The stock had previously closed at $14.32.

Analyst Ratings Changes

A number of equities analysts have issued reports on MLYS shares. Jefferies Financial Group began coverage on Mineralys Therapeutics in a report on Tuesday, June 10th. They issued a “hold” rating and a $15.00 price objective on the stock. Wall Street Zen cut shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. Guggenheim set a $48.00 price objective on shares of Mineralys Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Finally, HC Wainwright reiterated a “buy” rating and issued a $42.00 target price on shares of Mineralys Therapeutics in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Mineralys Therapeutics has a consensus rating of “Hold” and a consensus price target of $32.25.

Mineralys Therapeutics Trading Down 6.1%

The business has a fifty day simple moving average of $14.74 and a two-hundred day simple moving average of $12.84. The company has a market cap of $876.60 million, a PE ratio of -3.70 and a beta of -0.17.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.79) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.23. Equities analysts expect that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Insider Activity at Mineralys Therapeutics

In related news, insider David Malcom Rodman sold 55,771 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $15.76, for a total value of $878,950.96. Following the transaction, the insider now directly owns 116,704 shares of the company’s stock, valued at $1,839,255.04. This trade represents a 32.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of the company’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $12.06, for a total transaction of $129,729.42. Following the completion of the sale, the chief financial officer now directly owns 215,340 shares of the company’s stock, valued at $2,597,000.40. The trade was a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,579 shares of company stock worth $1,534,353 in the last three months. 25.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in Mineralys Therapeutics by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 65,318 shares of the company’s stock worth $804,000 after acquiring an additional 1,711 shares during the period. Proficio Capital Partners LLC purchased a new stake in Mineralys Therapeutics in the 4th quarter worth approximately $285,000. Charles Schwab Investment Management Inc. increased its stake in Mineralys Therapeutics by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 214,906 shares of the company’s stock valued at $2,645,000 after purchasing an additional 1,307 shares during the last quarter. Candriam S.C.A. purchased a new position in shares of Mineralys Therapeutics during the 4th quarter worth about $3,758,000. Finally, AlphaQuest LLC grew its stake in shares of Mineralys Therapeutics by 2,637.8% during the 4th quarter. AlphaQuest LLC now owns 15,222 shares of the company’s stock valued at $187,000 after buying an additional 14,666 shares during the period. 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.