Mineralys Therapeutics (NASDAQ:MLYS) Shares Down 9.6% – Here’s Why

Mineralys Therapeutics, Inc. (NASDAQ:MLYS)’s stock price traded down 9.6% on Wednesday . The company traded as low as $11.63 and last traded at $11.73. Approximately 163,131 shares traded hands during trading, a decline of 8% from the average daily volume of 177,245 shares. The stock had previously closed at $12.98.

Wall Street Analyst Weigh In

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

Mineralys Therapeutics Stock Performance

The stock has a market capitalization of $491.22 million, a P/E ratio of -3.02 and a beta of 1.49. The stock has a 50 day moving average of $12.64 and a 200 day moving average of $12.53.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data 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 last year, the business earned ($0.57) EPS. On average, research analysts anticipate that Mineralys Therapeutics, Inc. will post -3.63 EPS for the current fiscal year.

Insider Transactions at Mineralys Therapeutics

In other news, insider David Malcom Rodman sold 25,482 shares of the stock in a transaction that occurred on 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. This trade represents a 15.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 33.24% of the company’s stock.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in Mineralys Therapeutics by 17.7% during the third quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company’s stock worth $21,138,000 after acquiring an additional 262,922 shares during the period. Caligan Partners LP grew its stake in shares of Mineralys Therapeutics by 31.6% in the 3rd quarter. Caligan Partners LP now owns 981,155 shares of the company’s stock worth $11,882,000 after purchasing an additional 235,397 shares during the last quarter. Nantahala Capital Management LLC grew its stake in shares of Mineralys Therapeutics by 60.1% in the 2nd quarter. Nantahala Capital Management LLC now owns 532,506 shares of the company’s stock worth $6,230,000 after purchasing an additional 200,000 shares during the last quarter. Ikarian Capital LLC bought a new stake in shares of Mineralys Therapeutics in the 3rd quarter worth approximately $2,180,000. Finally, Driehaus Capital Management LLC lifted its stake in Mineralys Therapeutics by 40.4% during the second 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 during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.