Mineralys Therapeutics (NASDAQ:MLYS) Shares Gap Down After Analyst Downgrade

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) gapped down before the market opened on Thursday after The Goldman Sachs Group lowered their price target on the stock from $28.00 to $24.00. The stock had previously closed at $10.63, but opened at $10.15. The Goldman Sachs Group currently has a buy rating on the stock. Mineralys Therapeutics shares last traded at $10.28, with a volume of 14,179 shares.

Separately, HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Mineralys Therapeutics in a research report on Thursday.

Insider Buying and Selling at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 18,333 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $9.06, for a total value of $166,096.98. Following the completion of the sale, the chief executive officer now directly owns 877,608 shares in the company, valued at approximately $7,951,128.48. The trade was a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Adam Scott Levy sold 10,757 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $9.10, for a total value of $97,888.70. Following the sale, the chief financial officer now directly owns 226,097 shares in the company, valued at $2,057,482.70. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders own 33.24% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MLYS. SG Americas Securities LLC bought a new position in Mineralys Therapeutics in the 3rd quarter valued at about $110,000. China Universal Asset Management Co. Ltd. increased its stake in Mineralys Therapeutics by 64.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock valued at $116,000 after acquiring an additional 3,732 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Mineralys Therapeutics during the second quarter valued at approximately $145,000. Price T Rowe Associates Inc. MD bought a new stake in Mineralys Therapeutics during the fourth quarter worth $145,000. Finally, PDT Partners LLC acquired a new stake in shares of Mineralys Therapeutics in the 3rd quarter valued at $148,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Mineralys Therapeutics Trading Up 0.4 %

The company has a market cap of $509.64 million, a P/E ratio of -3.13 and a beta of 1.44. The company has a 50 day moving average price of $11.17 and a 200-day moving average price of $12.01.

Mineralys Therapeutics (NASDAQ:MLYS) last released its 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. Equities analysts expect that Mineralys Therapeutics, Inc. will post -3.63 earnings per share for the current year.

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.