Mineralys Therapeutics (NASDAQ:MLYS) Hits New 1-Year Low – What’s Next?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) hit a new 52-week low during trading on Friday. The stock traded as low as $14.85 and last traded at $14.8930, with a volume of 253,117 shares trading hands. The stock had previously closed at $15.50.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wall Street Zen downgraded Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Thursday, October 15th. UBS Group assumed coverage on Mineralys Therapeutics in a research note on Sunday, October 11th. They set a “neutral” rating and a $29.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $56.00 price objective on shares of Mineralys Therapeutics in a research note on Monday, October 12th. Finally, Zacks Research raised Mineralys Therapeutics from a “strong sell” rating to a “hold” rating in a report on Friday, September 11th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.60.

Mineralys Therapeutics Stock Down 1.0%

The firm has a 50-day moving average price of $22.92 and a 200 day moving average price of $26.27. The company has a debt-to-equity ratio of 0.15, a current ratio of 11.83 and a quick ratio of 11.83. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -3.51 and a beta of 0.83.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.09). Sell-side analysts predict that Mineralys Therapeutics, Inc. will post -4.64 EPS for the current year.

Insider Transactions at Mineralys Therapeutics

In other Mineralys Therapeutics news, Director Daphne Karydas sold 3,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $28.58, for a total transaction of $85,740.00. Following the transaction, the director owned 6,200 shares in the company, valued at $177,196. This trade represents a 32.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jon Congleton sold 75,000 shares of the stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $25.46, for a total value of $1,909,500.00. Following the transaction, the chief executive officer owned 528,621 shares in the company, valued at $13,458,690.66. The trade was a 12.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 197,195 shares of company stock valued at $5,403,069. Corporate insiders own 18.94% of the company’s stock.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC boosted its holdings in Mineralys Therapeutics by 5.3% in the 3rd quarter. ProShare Advisors LLC now owns 10,765 shares of the company’s stock valued at $271,000 after purchasing an additional 545 shares during the period. KBC Group NV bought a new position in shares of Mineralys Therapeutics during the first quarter worth approximately $33,000. Sterling Capital Management LLC increased its holdings in shares of Mineralys Therapeutics by 902.0% during the third quarter. Sterling Capital Management LLC now owns 2,024 shares of the company’s stock worth $51,000 after purchasing an additional 1,822 shares during the period. FNY Investment Advisers LLC raised its position in shares of Mineralys Therapeutics by 400.0% in the second quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company’s stock valued at $67,000 after buying an additional 2,000 shares in the last quarter. Finally, Quantinno Capital Management LP raised its position in shares of Mineralys Therapeutics by 12.6% in the first quarter. Quantinno Capital Management LP now owns 20,541 shares of the company’s stock valued at $556,000 after buying an additional 2,298 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

About Mineralys Therapeutics

Mineralys Therapeutics is a clinical-stage biopharmaceutical company developing treatments for hypertension and other cardiovascular and kidney conditions associated with excess aldosterone. The company is based in Radnor, Pennsylvania, and was founded in 2019. Its lead product candidate, lorundrostat, is an investigational oral inhibitor of aldosterone synthase. Mineralys is studying the drug as a potential treatment for difficult-to-control hypertension and conditions related to excess aldosterone; it is not an approved or marketed therapy.