Mineralys Therapeutics (NASDAQ:MLYS) Sets New 1-Year Low - Here's What Happened

Key Points

• Mineralys Therapeutics shares fell to a new 52-week low of $22.16 during Tuesday trading, down from the prior close of $23.30.
• The company reported a quarterly loss of $2.85 per share, missing analyst expectations by $2.30; analysts project a full-year loss of $4.45 per share.
• Despite the stock’s decline and mixed ratings—including recent “sell” calls—analysts maintain an overall “Moderate Buy” consensus with an average price target of $48.80.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $22.16 and last traded at $22.17, with a volume of 416960 shares changing hands. The stock had previously closed at $23.30.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wall Street Zen cut shares of Mineralys Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Weiss Ratings restated a "sell (d-)" rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. Finally, Zacks Research raised Mineralys Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Friday, September 11th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $48.80.

Mineralys Therapeutics Price Performance

The company has a quick ratio of 34.46, a current ratio of 34.46 and a debt-to-equity ratio of 0.18. The firm's fifty day moving average price is $26.81 and its 200-day moving average price is $26.99. The stock has a market cap of $1.97 billion, a P/E ratio of -5.25 and a beta of 0.69.

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

Insider Activity

In other news, insider David Rodman sold 2,171 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $30.30, for a total transaction of $65,781.30. Following the completion of the sale, the insider directly owned 57,733 shares in the company, valued at approximately $1,749,309.90. This represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 dated Monday, September 21st. The stock was sold at an average price of $28.12, for a total value of $209,156.56. Following the completion of the sale, the insider directly owned 38,400 shares in the company, valued at $1,079,808. The trade was 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. In the last quarter, insiders sold 208,974 shares of company stock valued at $5,727,495. 18.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

Several hedge funds have recently made changes to their positions in the business. KBC Group NV purchased a new position in shares of Mineralys Therapeutics in the first quarter worth $33,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Mineralys Therapeutics by 1,845.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company's stock valued at $76,000 after buying an additional 1,993 shares during the last quarter. FNY Investment Advisers LLC boosted its position in shares of Mineralys Therapeutics by 400.0% during the second quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company's stock valued at $67,000 after buying an additional 2,000 shares during the last quarter. Quantinno Capital Management LP increased its holdings in Mineralys Therapeutics by 12.6% in the 1st quarter. Quantinno Capital Management LP now owns 20,541 shares of the company's stock worth $556,000 after buying an additional 2,298 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in Mineralys Therapeutics by 22.4% in the 2nd quarter. Arizona State Retirement System now owns 15,357 shares of the company's stock worth $414,000 after buying an additional 2,815 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

About Mineralys Therapeutics

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for hypertension and other cardiovascular and kidney-related conditions associated with excess aldosterone activity. The company is headquartered in Radnor, Pennsylvania.

Mineralys' lead product candidate is lorundrostat, an oral, highly selective aldosterone synthase inhibitor designed to reduce the production of aldosterone. The company is evaluating lorundrostat as a potential treatment for uncontrolled or resistant hypertension, including hypertension linked to abnormal activation of the renin-angiotensin-aldosterone system.

Mineralys was established to advance therapies targeting aldosterone-driven disease and became a publicly traded company on the Nasdaq exchange in 2023.

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