Mineralys Therapeutics (NASDAQ:MLYS) Shares Down 3.7% – Should You Sell?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) shares dropped 3.7% during trading on Thursday . The stock traded as low as $12.08 and last traded at $12.13. Approximately 79,914 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 179,840 shares. The stock had previously closed at $12.60.

Analyst Ratings Changes

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

Mineralys Therapeutics Stock Down 4.3 %

The stock has a 50-day moving average of $13.03 and a 200-day moving average of $12.63. The company has a market cap of $600.23 million, a PE ratio of -3.85 and a beta of 1.71.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Monday, November 11th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.30). During the same quarter in the previous year, the company posted ($0.57) earnings per share. Research analysts expect that Mineralys Therapeutics, Inc. will post -3.63 EPS for the current year.

Insider Transactions at Mineralys Therapeutics

In other Mineralys Therapeutics 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 transaction of $382,994.46. Following the completion of the sale, the insider now directly owns 135,974 shares of the company’s stock, valued at $2,043,689.22. This trade represents a 15.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $13.57, for a total transaction of $145,972.49. Following the completion of the transaction, the chief financial officer now directly owns 236,854 shares of the company’s stock, valued at approximately $3,214,108.78. The trade was a 4.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,510 shares of company stock worth $735,431. 33.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. grew its stake in Mineralys Therapeutics by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock worth $116,000 after acquiring an additional 3,732 shares in the last quarter. Vanguard Group Inc. increased its holdings in Mineralys Therapeutics by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 982,932 shares of the company’s stock worth $12,690,000 after purchasing an additional 4,952 shares during the period. Federated Hermes Inc. raised its position in Mineralys Therapeutics by 100.0% during the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock valued at $140,000 after purchasing an additional 6,000 shares in the last quarter. Verition Fund Management LLC grew its holdings in Mineralys Therapeutics by 30.6% during the 3rd quarter. Verition Fund Management LLC now owns 27,361 shares of the company’s stock worth $331,000 after acquiring an additional 6,408 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Mineralys Therapeutics in the third quarter worth approximately $110,000. 84.46% of the stock is currently owned by institutional investors.

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.