Mineralys Therapeutics (NASDAQ:MLYS) Shares Down 4.9% - Here's What Happened

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) shares traded down 4.9% during trading on Friday . The stock traded as low as $14.90 and last traded at $14.89. 100,289 shares changed hands during trading, a decline of 80% from the average session volume of 489,612 shares. The stock had previously closed at $15.66.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MLYS shares. Guggenheim set a $48.00 price target on Mineralys Therapeutics and gave the stock a "buy" rating in a research report on Wednesday, May 14th. HC Wainwright reaffirmed a "buy" rating and set a $42.00 price target on shares of Mineralys Therapeutics in a research report on Tuesday, May 13th. The Goldman Sachs Group decreased their price objective on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Finally, Wall Street Zen raised Mineralys Therapeutics from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

Mineralys Therapeutics Trading Up 3.1%

The firm has a 50-day simple moving average of $14.39 and a two-hundred day simple moving average of $12.65. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -4.45 and a beta of -0.30.

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

Insider Activity at Mineralys Therapeutics

In related news, insider David Malcom Rodman sold 55,771 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $15.76, for a total value of $878,950.96. Following the completion of the transaction, the insider now owns 116,704 shares of the company's stock, valued at approximately $1,839,255.04. This represents a 32.34% 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 firm's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $12.06, for a total value of $129,729.42. Following the completion of the sale, the chief financial officer now directly owns 215,340 shares in the company, valued at approximately $2,597,000.40. The trade was a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,579 shares of company stock worth $1,534,353 in the last three months. Company insiders own 25.56% of the company's stock.

Institutional Investors Weigh In On Mineralys Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. raised its stake in Mineralys Therapeutics by 297.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company's stock valued at $25,000 after purchasing an additional 1,190 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Mineralys Therapeutics in the 4th quarter worth approximately $48,000. Quarry LP acquired a new position in Mineralys Therapeutics during the first quarter worth $111,000. ProShare Advisors LLC purchased a new position in Mineralys Therapeutics during the 4th quarter valued at about $128,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Mineralys Therapeutics by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company's stock valued at $130,000 after purchasing an additional 989 shares during the period. Hedge funds and other institutional investors 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.