Mineralys Therapeutics (NASDAQ:MLYS) Shares Down 6.2% - Should You Sell?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) dropped 6.2% during mid-day trading on Friday . The stock traded as low as $13.04 and last traded at $13.21. Approximately 133,749 shares traded hands during trading, a decline of 86% from the average daily volume of 936,298 shares. The stock had previously closed at $14.09.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MLYS shares. Guggenheim reaffirmed a "buy" rating on shares of Mineralys Therapeutics in a research report on Monday, February 24th. The Goldman Sachs Group decreased their price target on Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, HC Wainwright boosted their price target on Mineralys Therapeutics from $30.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, April 2nd.

Mineralys Therapeutics Stock Up 1.9 %

The stock has a market cap of $921.89 million, a PE ratio of -3.90 and a beta of -0.39. The stock has a 50-day moving average of $13.09 and a 200 day moving average of $12.36.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($1.00) by $0.02. On average, equities analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Insider Buying and Selling at Mineralys Therapeutics

In other news, insider David Malcom Rodman sold 11,366 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $14.53, for a total transaction of $165,147.98. Following the completion of the sale, the insider now owns 111,686 shares of the company's stock, valued at $1,622,797.58. This represents a 9.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Adam Scott Levy sold 10,757 shares of the firm's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $12.06, for a total transaction of $129,729.42. Following the completion of the transaction, the chief financial officer now directly owns 215,340 shares in the company, valued at approximately $2,597,000.40. This represents a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,213 shares of company stock valued at $1,360,567 over the last quarter. 33.24% of the stock is currently owned by insiders.

Institutional Trading of Mineralys Therapeutics

Hedge funds have recently bought and sold shares of the business. Barclays PLC grew its position in shares of Mineralys Therapeutics by 281.8% in the third quarter. Barclays PLC now owns 38,218 shares of the company's stock valued at $463,000 after purchasing an additional 28,208 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Mineralys Therapeutics by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 620,853 shares of the company's stock worth $7,520,000 after acquiring an additional 38,527 shares during the period. Franklin Resources Inc. grew its holdings in shares of Mineralys Therapeutics by 17.7% in the third quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company's stock valued at $21,138,000 after purchasing an additional 262,922 shares during the period. SG Americas Securities LLC increased its position in Mineralys Therapeutics by 119.0% during the fourth quarter. SG Americas Securities LLC now owns 19,961 shares of the company's stock worth $246,000 after purchasing an additional 10,845 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in Mineralys Therapeutics by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company's stock worth $130,000 after acquiring an additional 989 shares during the last quarter. Institutional investors and hedge funds own 84.46% 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.