Mineralys Therapeutics (NASDAQ:MLYS) Shares Down 3.7%

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) traded down 3.7% on Thursday . The company traded as low as $11.19 and last traded at $11.55. 134,670 shares changed hands during trading, a decline of 14% from the average session volume of 156,938 shares. The stock had previously closed at $12.00.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MLYS shares. Lifesci Capital restated an "outperform" rating on shares of Mineralys Therapeutics in a report on Tuesday, March 26th. The Goldman Sachs Group initiated coverage on Mineralys Therapeutics in a research report on Tuesday, April 2nd. They set a "buy" rating and a $30.00 target price for the company.

Mineralys Therapeutics Stock Performance

The company has a market cap of $533.52 million, a P/E ratio of -5.63 and a beta of 2.35. The business's fifty day moving average is $13.78 and its two-hundred day moving average is $10.31.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its earnings results on Thursday, March 21st. The company reported ($0.61) EPS for the quarter, topping analysts' consensus estimates of ($0.85) by $0.24. Analysts expect that Mineralys Therapeutics, Inc. will post -2.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mineralys Therapeutics news, major shareholder Samsara Biocapital Gp, Llc acquired 555,555 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average cost of $13.50 per share, with a total value of $7,499,992.50. Following the completion of the purchase, the insider now directly owns 5,074,916 shares in the company, valued at $68,511,366. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Trading of Mineralys Therapeutics

A number of hedge funds have recently bought and sold shares of MLYS. CWM LLC purchased a new position in shares of Mineralys Therapeutics in the 3rd quarter worth approximately $25,000. New York State Common Retirement Fund purchased a new position in Mineralys Therapeutics in the first quarter worth $53,000. PNC Financial Services Group Inc. increased its position in shares of Mineralys Therapeutics by 17,821.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,122 shares of the company's stock worth $35,000 after purchasing an additional 4,099 shares in the last quarter. Citigroup Inc. purchased a new stake in shares of Mineralys Therapeutics during the 2nd quarter valued at $71,000. Finally, California State Teachers Retirement System acquired a new stake in shares of Mineralys Therapeutics in the 1st quarter worth $70,000. 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.