Mineralys Therapeutics (NASDAQ:MLYS) Shares Down 6.2% - What's Next?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report)'s stock price dropped 6.2% during trading on Monday . The company traded as low as $13.44 and last traded at $13.64. Approximately 116,483 shares changed hands during trading, a decline of 87% from the average daily volume of 901,379 shares. The stock had previously closed at $14.54.

Analysts Set New Price Targets

MLYS has been the topic of a number of recent research reports. HC Wainwright reaffirmed a "buy" rating and set a $42.00 price target on shares of Mineralys Therapeutics in a research report on Tuesday, June 17th. Guggenheim set a $48.00 price target on shares of Mineralys Therapeutics and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Wall Street Zen lowered shares of Mineralys Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Finally, Jefferies Financial Group initiated coverage on shares of Mineralys Therapeutics in a research report on Tuesday, June 10th. They set a "hold" rating and a $15.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $32.25.

Mineralys Therapeutics Stock Performance

The stock's fifty day moving average price is $14.94 and its two-hundred day moving average price is $12.98. The company has a market cap of $881.89 million, a P/E ratio of -3.63 and a beta of -0.30.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.79) earnings per share for the quarter, topping analysts' consensus estimates of ($1.02) by $0.23. On average, equities research analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Insider Transactions at Mineralys Therapeutics

In other news, insider David Malcom Rodman sold 11,366 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $15.29, for a total transaction of $173,786.14. Following the completion of the sale, the insider owned 106,669 shares of the company's stock, valued at approximately $1,630,969.01. This represents a 9.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jon Congleton sold 15,319 shares of the company's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $12.19, for a total transaction of $186,738.61. Following the transaction, the chief executive officer owned 862,289 shares of the company's stock, valued at approximately $10,511,302.91. This represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,808 shares of company stock valued at $655,402. Company insiders own 33.24% of the company's stock.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its position in Mineralys Therapeutics by 166.6% during the 1st 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 in the last quarter. Swedbank AB acquired a new position in Mineralys Therapeutics during the 1st quarter worth approximately $5,204,000. Voya Investment Management LLC acquired a new position in Mineralys Therapeutics during the 1st quarter worth approximately $255,000. Strs Ohio acquired a new position in Mineralys Therapeutics during the 1st quarter worth approximately $359,000. Finally, Woodline Partners LP acquired a new position in Mineralys Therapeutics during the 1st quarter worth approximately $757,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.