Mineralys Therapeutics (NASDAQ:MLYS) Issues Quarterly Earnings Results, Beats Expectations By $0.23 EPS

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) announced its earnings results on Monday. The company reported ($0.79) EPS for the quarter, beating the consensus estimate of ($1.02) by $0.23, Zacks reports.

Mineralys Therapeutics Trading Down 0.1%

MLYS stock traded down $0.01 during midday trading on Friday, hitting $15.35. 779,188 shares of the company's stock were exchanged, compared to its average volume of 469,430. The firm has a 50 day moving average price of $14.29 and a 200-day moving average price of $12.47. Mineralys Therapeutics has a 12-month low of $8.24 and a 12-month high of $18.38. The stock has a market capitalization of $995.85 million, a price-to-earnings ratio of -4.22 and a beta of -0.30.

Insider Activity

In related news, insider David Malcom Rodman sold 55,771 shares of Mineralys Therapeutics stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $15.76, for a total value of $878,950.96. Following the completion of the sale, the insider now owns 116,704 shares in the company, valued at approximately $1,839,255.04. The trade was a 32.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Samsara Biocapital Gp, Llc acquired 600,000 shares of Mineralys Therapeutics stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $13.50 per share, for a total transaction of $8,100,000.00. Following the completion of the purchase, the insider now directly owns 5,674,916 shares in the company, valued at $76,611,366. The trade was a 11.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 104,579 shares of company stock worth $1,534,353. 25.56% of the stock is currently owned by insiders.

Institutional Trading of Mineralys Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Mineralys Therapeutics by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company's stock valued at $271,000 after acquiring an additional 702 shares during the last quarter. AQR Capital Management LLC acquired a new position in Mineralys Therapeutics in the first quarter worth $550,000. Woodline Partners LP bought a new stake in Mineralys Therapeutics during the first quarter valued at $757,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Mineralys Therapeutics by 166.6% during the first quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company's stock worth $4,739,000 after purchasing an additional 186,480 shares during the period. Institutional investors and hedge funds own 84.46% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Guggenheim reaffirmed a "buy" rating on shares of Mineralys Therapeutics in a research report on Monday, February 24th. HC Wainwright reaffirmed a "buy" rating and set a $42.00 price target on shares of Mineralys Therapeutics in a report on Tuesday. Finally, The Goldman Sachs Group dropped their price target on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th.

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.