Mineralys Therapeutics (NASDAQ:MLYS) Stock Falls 6.1% - What's Next?

Key Points

• Mineralys Therapeutics shares fell 6.1% to about $23.60, below their 50- and 200-day moving averages near $27. The decline occurred on volume below the stock’s average.
• Analyst sentiment remains mixed but leans positive, with a “Moderate Buy” consensus and an average price target of $48.80; however, recent ratings included both upgrades and downgrades.
• The company reported a substantial quarterly EPS miss of $2.30, posting a loss of $2.85 versus the $0.55 expected. Insiders have sold nearly $3.8 million in shares over the past 90 days, while institutional investors own 84.46% of the stock.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report)'s share price fell 6.1% on Thursday. The company traded as low as $23.76 and last traded at $23.5970. 930,153 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 1,281,213 shares. The stock had previously closed at $25.13.

Analyst Ratings Changes

MLYS has been the topic of a number of recent research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. Zacks Research upgraded Mineralys Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Friday, September 11th. Finally, Wall Street Zen cut Mineralys Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $48.80.

Mineralys Therapeutics Stock Performance

The company has a market capitalization of $2.10 billion, a P/E ratio of -5.60 and a beta of 0.68. The firm has a 50 day moving average price of $27.02 and a two-hundred day moving average price of $27.03. The company has a debt-to-equity ratio of 0.18, a quick ratio of 34.46 and a current ratio of 34.46.

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

Insiders Place Their Bets

In related news, Director Brian Slingsby sold 104,320 shares of Mineralys Therapeutics stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $28.81, for a total value of $3,005,459.20. Following the completion of the transaction, the director directly owned 7,805,718 shares of the company's stock, valued at $224,882,735.58. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David Rodman sold 2,170 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $27.09, for a total transaction of $58,785.30. Following the sale, the insider directly owned 51,384 shares in the company, valued at approximately $1,391,992.56. This represents a 4.05% 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. Insiders have sold 133,974 shares of company stock valued at $3,817,995 in the last 90 days. Insiders own 18.94% of the company's stock.

Institutional Trading of Mineralys Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of MLYS. BlackRock Inc. acquired a new stake in shares of Mineralys Therapeutics in the 2nd quarter valued at $158,832,000. Orbimed Advisors LLC boosted its holdings in Mineralys Therapeutics by 109.4% in the first 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 last quarter. Bank of America Corp DE acquired a new stake in Mineralys Therapeutics in the second quarter worth about $40,620,000. Polar Capital Holdings Plc increased its position in Mineralys Therapeutics by 32.3% in the fourth quarter. Polar Capital Holdings Plc now owns 1,401,141 shares of the company's stock worth $50,847,000 after purchasing an additional 342,365 shares during the period. Finally, Jennison Associates LLC raised its holdings 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 purchasing an additional 7,521 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

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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