Mineralys Therapeutics (NASDAQ:MLYS) Shares Gap Down Following Weak Earnings

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $14.92, but opened at $13.51. Mineralys Therapeutics shares last traded at $13.90, with a volume of 24,076 shares changing hands.

The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.30). During the same period in the prior year, the firm posted ($0.57) earnings per share.

Analysts Set New Price Targets

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

Insider Activity

In other Mineralys Therapeutics news, CEO Jon Congleton sold 15,271 shares of Mineralys Therapeutics stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $13.52, for a total value of $206,463.92. Following the completion of the sale, the chief executive officer now directly owns 895,941 shares of the company’s stock, valued at approximately $12,113,122.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Mineralys Therapeutics news, CEO Jon Congleton sold 15,271 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $13.52, for a total value of $206,463.92. Following the transaction, the chief executive officer now directly owns 895,941 shares of the company’s stock, valued at $12,113,122.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David Malcom Rodman sold 25,482 shares of the company’s 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 sale, the insider now directly owns 135,974 shares in the company, valued at approximately $2,043,689.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,510 shares of company stock worth $735,431 in the last 90 days. 33.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RA Capital Management L.P. increased its holdings in Mineralys Therapeutics by 52.6% during the 1st quarter. RA Capital Management L.P. now owns 4,850,984 shares of the company’s stock valued at $62,626,000 after purchasing an additional 1,672,508 shares in the last quarter. Affinity Asset Advisors LLC acquired a new stake in shares of Mineralys Therapeutics in the 1st quarter valued at $4,234,000. SR One Capital Management LP increased its stake in shares of Mineralys Therapeutics by 12.4% in the 1st quarter. SR One Capital Management LP now owns 2,016,822 shares of the company’s stock valued at $26,037,000 after buying an additional 222,222 shares during the period. Nantahala Capital Management LLC increased 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 valued at $6,230,000 after buying an additional 200,000 shares during the period. Finally, Driehaus Capital Management LLC increased its stake in shares of Mineralys Therapeutics by 40.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 257,371 shares of the company’s stock valued at $3,011,000 after buying an additional 74,074 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Mineralys Therapeutics Price Performance

The business has a 50 day moving average of $12.98 and a 200 day moving average of $12.65. The firm has a market capitalization of $619.10 million, a price-to-earnings ratio of -3.81 and a beta of 1.71.

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.