Mineralys Therapeutics (NASDAQ:MLYS) Posts Earnings Results, Beats Expectations By $0.02 EPS

Mineralys Therapeutics (NASDAQ:MLYS) released its earnings results on Wednesday. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02, Zacks reports.

Mineralys Therapeutics Stock Performance

NASDAQ MLYS traded up $0.30 during trading hours on Wednesday, hitting $9.96. The company had a trading volume of 80,156 shares, compared to its average volume of 257,219. The firm has a market capitalization of $495.46 million, a price-to-earnings ratio of -3.05 and a beta of 1.44. Mineralys Therapeutics has a 52 week low of $8.58 and a 52 week high of $16.91. The firm has a 50 day simple moving average of $11.31 and a 200 day simple moving average of $12.06.

Wall Street Analysts Forecast Growth

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

Insider Activity

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

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.