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

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report)'s share price was down 4.9% during mid-day trading on Friday . The company traded as low as $14.90 and last traded at $14.89. Approximately 100,289 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 489,612 shares. The stock had previously closed at $15.66.

Analyst Ratings Changes

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

Mineralys Therapeutics Trading Up 0.4%

The stock's fifty day moving average is $14.40 and its 200 day moving average is $12.62. The company has a market capitalization of $1.03 billion, a P/E ratio of -4.32 and a beta of -0.30.

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

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 55,771 shares of the company's 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 transaction, the insider now directly owns 116,704 shares in the company, valued at approximately $1,839,255.04. This represents a 32.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Samsara Biocapital Gp, Llc acquired 600,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $13.50 per share, with a total value of $8,100,000.00. Following the completion of the acquisition, the insider now directly owns 5,674,916 shares in the company, valued at approximately $76,611,366. This represents a 11.82% increase in their position. The disclosure for this purchase can be found here. Insiders sold 104,579 shares of company stock worth $1,534,353 in the last three months. 25.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MLYS. RA Capital Management L.P. raised its holdings in Mineralys Therapeutics by 26.7% in the 1st quarter. RA Capital Management L.P. now owns 6,147,280 shares of the company's stock worth $97,619,000 after purchasing an additional 1,296,296 shares in the last quarter. SR One Capital Management LP increased its stake in shares of Mineralys Therapeutics by 55.1% in the 1st quarter. SR One Capital Management LP now owns 3,127,933 shares of the company's stock worth $49,672,000 after acquiring an additional 1,111,111 shares in the last quarter. Millennium Management LLC increased its stake in shares of Mineralys Therapeutics by 1,015.8% in the 4th quarter. Millennium Management LLC now owns 1,101,674 shares of the company's stock worth $13,562,000 after acquiring an additional 1,002,941 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Mineralys Therapeutics by 82.9% in the 1st quarter. Jennison Associates LLC now owns 1,979,033 shares of the company's stock worth $31,427,000 after acquiring an additional 897,027 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Mineralys Therapeutics by 42.1% in the 1st quarter. Vanguard Group Inc. now owns 2,035,506 shares of the company's stock worth $32,324,000 after acquiring an additional 603,464 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

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.