Mineralys Therapeutics (NASDAQ:MLYS) Shares Down 3.7%

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) shares fell 3.7% during trading on Thursday . The company traded as low as $11.19 and last traded at $11.55. 134,670 shares traded hands during mid-day trading, a decline of 14% from the average session volume of 156,938 shares. The stock had previously closed at $12.00.

Analysts Set New Price Targets

A number of brokerages have commented on MLYS. The Goldman Sachs Group began coverage on Mineralys Therapeutics in a research report on Tuesday, April 2nd. They issued a “buy” rating and a $30.00 price objective on the stock. Lifesci Capital reaffirmed an “outperform” rating on shares of Mineralys Therapeutics in a research note on Tuesday, March 26th.

Mineralys Therapeutics Stock Down 10.3 %

The firm has a market cap of $534.52 million, a P/E ratio of -5.63 and a beta of 2.35. The business has a fifty day moving average of $13.78 and a 200 day moving average of $10.31.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.61) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.24. Research analysts expect that Mineralys Therapeutics, Inc. will post -2.44 EPS for the current year.

Insider Transactions at Mineralys Therapeutics

In other news, major shareholder Samsara Biocapital Gp, Llc acquired 555,555 shares of Mineralys Therapeutics stock in a transaction dated Monday, February 12th. The stock was bought at an average price of $13.50 per share, for a total transaction of $7,499,992.50. Following the completion of the acquisition, the insider now directly owns 5,074,916 shares in the company, valued at approximately $68,511,366. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Institutional Investors Weigh In On Mineralys Therapeutics

Several institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in shares of Mineralys Therapeutics by 16.7% in the second quarter. JPMorgan Chase & Co. now owns 10,820 shares of the company’s stock valued at $184,000 after buying an additional 1,551 shares during the period. Federated Hermes Inc. boosted its stake in shares of Mineralys Therapeutics by 8.3% in the third quarter. Federated Hermes Inc. now owns 22,293 shares of the company’s stock valued at $212,000 after buying an additional 1,700 shares during the period. Rhumbline Advisers boosted its stake in shares of Mineralys Therapeutics by 15.3% in the third quarter. Rhumbline Advisers now owns 17,174 shares of the company’s stock valued at $163,000 after buying an additional 2,279 shares during the period. CWM LLC bought a new stake in shares of Mineralys Therapeutics in the third quarter valued at approximately $25,000. Finally, American International Group Inc. boosted its stake in shares of Mineralys Therapeutics by 38.7% in the fourth quarter. American International Group Inc. now owns 9,656 shares of the company’s stock valued at $83,000 after buying an additional 2,692 shares during the period. 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.