Mineralys Therapeutics (NASDAQ:MLYS) Stock Price Down 4.6%

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report)'s stock price dropped 4.6% on Friday . The company traded as low as $13.61 and last traded at $13.61. Approximately 7,069 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 162,344 shares. The stock had previously closed at $14.27.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MLYS. 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 price target on the stock. Lifesci Capital reissued an "outperform" rating on shares of Mineralys Therapeutics in a research report on Tuesday, March 26th.

Mineralys Therapeutics Price Performance

The company's 50 day moving average price is $12.92 and its 200 day moving average price is $10.66. The firm has a market cap of $671.01 million, a PE ratio of -7.14 and a beta of 2.05.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its quarterly earnings results on Thursday, March 21st. The company reported ($0.61) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.24. Sell-side analysts expect that Mineralys Therapeutics, Inc. will post -2.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Mineralys Therapeutics

In related news, major shareholder Samsara Biocapital Gp, Llc purchased 555,555 shares of Mineralys Therapeutics stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average cost of $13.50 per share, with a total value of $7,499,992.50. Following the transaction, the insider now owns 5,074,916 shares of the company's stock, valued at approximately $68,511,366. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 33.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in Mineralys Therapeutics by 17,821.7% in the 4th 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 during the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in Mineralys Therapeutics during the fourth quarter worth $41,000. CWM LLC raised its stake in Mineralys Therapeutics by 120.0% during the fourth quarter. CWM LLC now owns 5,891 shares of the company's stock worth $51,000 after acquiring an additional 3,213 shares in the last quarter. SG Americas Securities LLC acquired a new position in Mineralys Therapeutics in the fourth quarter worth $87,000. Finally, CreativeOne Wealth LLC acquired a new position in Mineralys Therapeutics during the 4th quarter worth $92,000. 84.46% of the stock is 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.

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