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

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

Wall Street Analysts Forecast Growth

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

Mineralys Therapeutics Stock Up 1.9%

The firm has a fifty day moving average price of $14.95 and a 200 day moving average price of $13.01.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.79) earnings per share for the quarter, beating the consensus estimate of ($1.02) by $0.23. Sell-side analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

Insider Transactions at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 15,319 shares of Mineralys Therapeutics stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $12.19, for a total transaction of $186,738.61. Following the completion of the sale, the chief executive officer owned 862,289 shares in the company, valued at approximately $10,511,302.91. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Adam Scott Levy sold 10,757 shares of the business's stock in a transaction dated Friday, April 11th. The shares were 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 directly owned 215,340 shares of the company's stock, valued at $2,597,000.40. The trade was a 4.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,808 shares of company stock valued at $655,402 over the last three months. 25.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Mineralys Therapeutics by 43.0% during the fourth quarter. Wellington Management Group LLP now owns 91,529 shares of the company's stock worth $1,127,000 after purchasing an additional 27,531 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in Mineralys Therapeutics in the fourth quarter valued at $202,000. Proficio Capital Partners LLC acquired a new position in Mineralys Therapeutics in the fourth quarter valued at $285,000. GAMMA Investing LLC boosted its holdings in Mineralys Therapeutics by 9,602.2% in the first quarter. GAMMA Investing LLC now owns 8,829 shares of the company's stock valued at $140,000 after acquiring an additional 8,738 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Mineralys Therapeutics during the fourth quarter worth approximately $48,000. Institutional investors and hedge funds own 84.46% of the company's stock.

About Mineralys Therapeutics

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.