Mineralys Therapeutics (NASDAQ:MLYS) Reaches New 52-Week Low - Should You Sell?

Key Points

• Mineralys Therapeutics shares fell to a new 52-week low of $19.91, well below their 50-day and 200-day moving averages of $24.93 and $27.10, respectively.
• Analyst sentiment is mixed: the stock has an overall “Hold” rating and an average price target of $45.50, with targets ranging from $29 to $56.
• The company remains unprofitable, reporting a quarterly loss of $2.85 per share versus the expected $0.55 loss, while insiders sold 199,365 shares worth approximately $5.46 million during the last quarter.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) reached a new 52-week low during mid-day trading on Friday. The company traded as low as $19.91 and last traded at $19.5960, with a volume of 170,750 shares. The stock had previously closed at $21.24.

Analysts Set New Price Targets

A number of research firms recently issued reports on MLYS. UBS Group initiated coverage on shares of Mineralys Therapeutics in a research report on Sunday, October 11th. They set a "neutral" rating and a $29.00 price objective for the company. HC Wainwright reiterated a "buy" rating and set a $56.00 target price on shares of Mineralys Therapeutics in a research note on Monday, October 12th. Zacks Research raised shares of Mineralys Therapeutics from a "strong sell" rating to a "hold" rating in a report on Friday, September 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Mineralys Therapeutics in a research note on Thursday, October 15th. Finally, Wall Street Zen downgraded shares of Mineralys Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Mineralys Therapeutics presently has an average rating of "Hold" and an average target price of $45.50.

Mineralys Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 34.46 and a current ratio of 34.46. The company has a market capitalization of $1.69 billion, a PE ratio of -4.52 and a beta of 0.69. The firm has a fifty day simple moving average of $24.93 and a 200 day simple moving average of $27.10.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($2.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($2.30). Equities analysts anticipate that Mineralys Therapeutics, Inc. will post -4.45 EPS for the current year.

Insider Activity at Mineralys Therapeutics

In related news, insider Eric Warren sold 7,438 shares of Mineralys Therapeutics stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $28.12, for a total value of $209,156.56. Following the completion of the sale, the insider owned 38,400 shares in the company, valued at approximately $1,079,808. This trade represents a 16.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jon Congleton sold 75,000 shares of the company's stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $25.46, for a total value of $1,909,500.00. Following the sale, the chief executive officer owned 528,621 shares in the company, valued at approximately $13,458,690.66. This trade represents a 12.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 199,365 shares of company stock worth $5,461,854 in the last quarter. Corporate insiders own 18.94% of the company's stock.

Institutional Investors Weigh In On Mineralys Therapeutics

Several large investors have recently modified their holdings of MLYS. ProShare Advisors LLC increased its stake in Mineralys Therapeutics by 5.3% in the third quarter. ProShare Advisors LLC now owns 10,765 shares of the company's stock valued at $271,000 after purchasing an additional 545 shares during the last quarter. KBC Group NV bought a new position in shares of Mineralys Therapeutics during the first quarter worth about $33,000. Sterling Capital Management LLC lifted its position in shares of Mineralys Therapeutics by 902.0% in the 3rd quarter. Sterling Capital Management LLC now owns 2,024 shares of the company's stock worth $51,000 after buying an additional 1,822 shares during the last quarter. FNY Investment Advisers LLC increased its holdings in shares of Mineralys Therapeutics by 400.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company's stock worth $67,000 after acquiring an additional 2,000 shares during the period. Finally, Quantinno Capital Management LP increased its holdings in shares of Mineralys Therapeutics by 12.6% during the first quarter. Quantinno Capital Management LP now owns 20,541 shares of the company's stock valued at $556,000 after purchasing an additional 2,298 shares during the period. Hedge funds and other institutional investors own 84.46% of the company's stock.

About Mineralys Therapeutics

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cardiovascular and kidney diseases associated with excess aldosterone activity. The company's research centers on selectively targeting aldosterone production, a mechanism involved in blood-pressure regulation and organ damage.

Mineralys' lead product candidate is lorundrostat, an oral, selective aldosterone synthase inhibitor being evaluated as a potential treatment for uncontrolled and resistant hypertension.

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