Mineralys Therapeutics (NASDAQ:MLYS) Stock Price Down 8.1% on Insider Selling

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) fell 8.1% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $27.31 and last traded at $27.0060. 485,247 shares traded hands during trading, a decline of 62% from the average session volume of 1,271,440 shares. The stock had previously closed at $29.40.

Specifically, insider Eric Warren sold 7,438 shares of the stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $28.12, for a total transaction of $209,156.56. Following the completion of the sale, the insider directly owned 38,400 shares in the company, valued at $1,079,808. This represents a 16.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daphne Karydas sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $28.58, for a total transaction of $85,740.00. Following the sale, the director owned 6,200 shares in the company, valued at approximately $177,196. This trade represents a 32.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

MLYS has been the topic of a number of research analyst reports. Wall Street Zen lowered Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Zacks Research raised Mineralys Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, September 11th. Jefferies Financial Group reissued a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. HC Wainwright reiterated a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Friday, July 17th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.80.

Mineralys Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 34.46 and a quick ratio of 34.46. The stock’s 50-day moving average is $27.18 and its 200 day moving average is $27.10. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -6.42 and a beta of 0.68.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($2.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($2.30). As a group, analysts predict that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of large investors have recently made changes to their positions in MLYS. BlueCrest Capital Management Ltd bought a new position in shares of Mineralys Therapeutics during the second quarter valued at approximately $2,298,000. WINTON GROUP Ltd acquired a new stake in shares of Mineralys Therapeutics in the 2nd quarter worth approximately $912,000. Arizona State Retirement System raised its holdings in shares of Mineralys Therapeutics by 22.4% during the second quarter. Arizona State Retirement System now owns 15,357 shares of the company’s stock worth $414,000 after acquiring an additional 2,815 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Mineralys Therapeutics in the 2nd quarter valued at $333,000. Finally, Pale Fire Capital SE increased its holdings in Mineralys Therapeutics by 68.0% during the 2nd quarter. Pale Fire Capital SE now owns 614,284 shares of the company’s stock worth $16,573,000 after purchasing an additional 248,658 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Mineralys Therapeutics Company Profile

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cardiovascular and kidney-related diseases. The company’s research is centered on conditions associated with excess aldosterone activity, including uncontrolled and resistant hypertension.

Mineralys’ lead investigational product is lorundrostat, also known as MLS-101, an oral, highly selective aldosterone synthase inhibitor. The company is evaluating lorundrostat in clinical studies as a potential treatment for patients whose blood pressure remains inadequately controlled despite existing therapy.