Mineralys Therapeutics (NASDAQ:MLYS) Shares Down 8.1% Following Insider Selling

Key Points

• Mineralys Therapeutics shares fell 8.1% to about $27.01 after insiders Eric Warren and director Daphne Karydas sold shares through pre-arranged Rule 10b5-1 trading plans.
• Analyst sentiment remains mixed but leans positive: the stock has a “Moderate Buy” consensus rating and an average price target of $48.80, despite some sell and strong-sell ratings.
• The clinical-stage biotech reported a quarterly loss of $2.85 per share, missing expectations by $2.30, while institutional investors own a substantial 84.46% of the company.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) shares traded down 8.1% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $27.31 and last traded at $27.0060. Approximately 485,247 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 1,271,440 shares. The stock had previously closed at $29.40.

Specifically, insider Eric Warren sold 7,438 shares of the company's stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $28.12, for a total transaction of $209,156.56. Following the completion of the sale, the insider owned 38,400 shares of the company's stock, valued at approximately $1,079,808. This represents a 16.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daphne Karydas sold 3,000 shares of the firm's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $28.58, for a total value of $85,740.00. Following the sale, the director directly owned 6,200 shares in the company, valued at $177,196. This trade represents a 32.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

A number of research firms have recently issued reports on MLYS. Jefferies Financial Group restated a "hold" rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. HC Wainwright reiterated a "buy" rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Wall Street Zen cut Mineralys Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Weiss Ratings restated a "sell (d-)" rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Finally, Zacks Research upgraded shares of Mineralys Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Friday, September 11th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $48.80.

Mineralys Therapeutics Stock Performance

The firm has a market capitalization of $2.39 billion, a PE ratio of -6.42 and a beta of 0.68. The company has a debt-to-equity ratio of 0.18, a current ratio of 34.46 and a quick ratio of 34.46. The business has a 50-day simple moving average of $27.18 and a 200-day simple moving average of $27.10.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued 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). Equities research analysts expect that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mineralys Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Mineralys Therapeutics during the 2nd quarter valued at $158,832,000. Orbimed Advisors LLC raised its stake in Mineralys Therapeutics by 109.4% in the 1st quarter. Orbimed Advisors LLC now owns 2,052,900 shares of the company's stock valued at $55,613,000 after acquiring an additional 1,072,500 shares during the period. Bank of America Corp DE bought a new position in Mineralys Therapeutics during the second quarter worth about $40,620,000. Polar Capital Holdings Plc raised its position in Mineralys Therapeutics by 32.3% during the fourth quarter. Polar Capital Holdings Plc now owns 1,401,141 shares of the company's stock valued at $50,847,000 after purchasing an additional 342,365 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in Mineralys Therapeutics by 0.6% during the 1st quarter. Jennison Associates LLC now owns 1,266,174 shares of the company's stock worth $34,301,000 after buying an additional 7,521 shares during the period. Hedge funds and other institutional investors own 84.46% of the company's stock.

Mineralys Therapeutics Company Profile

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cardiovascular and kidney-related diseases. The company's research is centered on conditions associated with excess aldosterone activity, including uncontrolled and resistant hypertension.

Mineralys' lead investigational product is lorundrostat, also known as MLS-101, an oral, highly selective aldosterone synthase inhibitor. The company is evaluating lorundrostat in clinical studies as a potential treatment for patients whose blood pressure remains inadequately controlled despite existing therapy.

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