Mineralys Therapeutics (NASDAQ:MLYS) Hits New 1-Year Low - What's Next?

Key Points

• Mineralys shares hit a new 52-week low, trading as low as $14.85 versus the prior close of $15.50.
• Analyst views are mixed: MarketBeat reports an average Hold rating and a $43.60 average price target, while individual ratings range from strong sell to buy.
• The company reported a quarterly loss of $0.64 per share, missing the consensus estimate of a $0.55 loss; insiders also sold 197,195 shares worth about $5.4 million over the past 90 days.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday. The company traded as low as $14.85 and last traded at $14.8930, with a volume of 253,117 shares traded. The stock had previously closed at $15.50.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Zacks Research upgraded Mineralys Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Friday, September 11th. Wall Street Zen lowered shares of Mineralys Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. HC Wainwright restated a "buy" rating and set a $56.00 price objective on shares of Mineralys Therapeutics in a report on Monday, October 12th. UBS Group started coverage on shares of Mineralys Therapeutics in a research note on Sunday, October 11th. They issued a "neutral" rating and a $29.00 target price for the company. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Mineralys Therapeutics in a report on Thursday, October 15th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Mineralys Therapeutics presently has an average rating of "Hold" and an average target price of $43.60.

Mineralys Therapeutics Stock Performance

The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -3.51 and a beta of 0.83. The company has a current ratio of 11.83, a quick ratio of 11.83 and a debt-to-equity ratio of 0.15. The stock's 50 day moving average is $22.92 and its two-hundred day moving average is $26.27.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($0.64) EPS for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.09). Analysts expect that Mineralys Therapeutics, Inc. will post -4.64 earnings per share for the current fiscal year.

Insider Transactions at Mineralys Therapeutics

In other news, CEO Jon Congleton sold 75,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $25.46, for a total transaction of $1,909,500.00. Following the completion of the transaction, the chief executive officer directly owned 528,621 shares of the company's stock, valued at $13,458,690.66. This trade represents a 12.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 7,438 shares of the firm's stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $28.12, for a total transaction of $209,156.56. Following the transaction, the insider directly owned 38,400 shares of the company's stock, valued at $1,079,808. This represents a 16.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 197,195 shares of company stock worth $5,403,069 in the last 90 days. 18.94% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. ACT Capital Partners L.P. acquired a new stake in Mineralys Therapeutics in the 3rd quarter valued at $2,196,000. Aberdeen Group plc boosted its stake in shares of Mineralys Therapeutics by 29.8% during the 3rd quarter. Aberdeen Group plc now owns 894,403 shares of the company's stock worth $22,476,000 after buying an additional 205,168 shares during the last quarter. Ethic Inc. acquired a new position in shares of Mineralys Therapeutics during the 3rd quarter worth about $269,000. Alps Advisors Inc. grew its holdings in shares of Mineralys Therapeutics by 31.7% in the 3rd quarter. Alps Advisors Inc. now owns 117,144 shares of the company's stock valued at $2,944,000 after acquiring an additional 28,168 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Mineralys Therapeutics in the 3rd quarter valued at about $114,000. Institutional investors own 84.46% of the company's stock.

Mineralys Therapeutics Company Profile

Mineralys Therapeutics is a clinical-stage biopharmaceutical company developing treatments for hypertension and other cardiovascular and kidney conditions associated with excess aldosterone. The company is based in Radnor, Pennsylvania, and was founded in 2019. Its lead product candidate, lorundrostat, is an investigational oral inhibitor of aldosterone synthase. Mineralys is studying the drug as a potential treatment for difficult-to-control hypertension and conditions related to excess aldosterone; it is not an approved or marketed therapy.

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