Mineralys Therapeutics (NASDAQ:MLYS) Trading Down 9.5% – Should You Sell?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS)’s share price traded down 9.5% during trading on Tuesday . The stock traded as low as $13.45 and last traded at $13.54. 1,279,112 shares changed hands during mid-day trading, an increase of 94% from the average session volume of 659,898 shares. The stock had previously closed at $14.96.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group dropped their target price on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Mineralys Therapeutics in a research report on Monday. Finally, Guggenheim restated a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, February 24th.

Mineralys Therapeutics Price Performance

The firm has a market cap of $712.65 million, a P/E ratio of -3.93 and a beta of 1.50. The company’s 50 day moving average is $10.31 and its two-hundred day moving average is $11.88.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data 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. Research analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Insider Transactions at Mineralys Therapeutics

In other Mineralys Therapeutics news, CEO Jon Congleton sold 18,333 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $9.06, for a total value of $166,096.98. Following the completion of the transaction, the chief executive officer now directly owns 877,608 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Adam Scott Levy sold 10,757 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $9.10, for a total transaction 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 trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 33.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Polar Asset Management Partners Inc. bought a new position in Mineralys Therapeutics in the third quarter valued at about $490,000. Jennison Associates LLC grew its position in shares of Mineralys Therapeutics by 55.4% during the 4th quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock worth $13,319,000 after buying an additional 385,726 shares during the period. Barclays PLC raised its stake in shares of Mineralys Therapeutics by 281.8% during the third quarter. Barclays PLC now owns 38,218 shares of the company’s stock worth $463,000 after buying an additional 28,208 shares during the last quarter. Wellington Management Group LLP acquired a new position in Mineralys Therapeutics in the third quarter valued at approximately $775,000. Finally, State Street Corp boosted its stake in Mineralys Therapeutics by 4.0% in the third quarter. State Street Corp now owns 483,766 shares of the company’s stock valued at $5,858,000 after acquiring an additional 18,627 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

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.