Mineralys Therapeutics (NASDAQ:MLYS) Shares Gap Down Following Weak Earnings

Mineralys Therapeutics, Inc. (NASDAQ:MLYS)’s share price gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $14.92, but opened at $13.51. Mineralys Therapeutics shares last traded at $13.90, with a volume of 24,076 shares traded.

The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.30). During the same period in the previous year, the firm posted ($0.57) earnings per share.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Mineralys Therapeutics in a research note on Tuesday.

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, CEO Jon Congleton sold 15,271 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $13.52, for a total value of $206,463.92. Following the sale, the chief executive officer now directly owns 895,941 shares of the company’s stock, valued at approximately $12,113,122.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Jon Congleton sold 15,271 shares of Mineralys Therapeutics stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $13.52, for a total value of $206,463.92. Following the sale, the chief executive officer now owns 895,941 shares in the company, valued at $12,113,122.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Adam Scott Levy sold 10,757 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $13.57, for a total transaction of $145,972.49. Following the sale, the chief financial officer now directly owns 236,854 shares of the company’s stock, valued at $3,214,108.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,510 shares of company stock worth $735,431 in the last 90 days. Corporate insiders own 33.24% of the company’s stock.

Hedge Funds Weigh In On Mineralys Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. RA Capital Management L.P. raised its stake in Mineralys Therapeutics by 52.6% in the 1st quarter. RA Capital Management L.P. now owns 4,850,984 shares of the company’s stock valued at $62,626,000 after purchasing an additional 1,672,508 shares during the last quarter. SR One Capital Management LP raised its position in shares of Mineralys Therapeutics by 12.4% in the first quarter. SR One Capital Management LP now owns 2,016,822 shares of the company’s stock valued at $26,037,000 after buying an additional 222,222 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Mineralys Therapeutics by 0.5% in the first quarter. Vanguard Group Inc. now owns 982,932 shares of the company’s stock worth $12,690,000 after buying an additional 4,952 shares in the last quarter. American Century Companies Inc. boosted its position in Mineralys Therapeutics by 3.2% during the second quarter. American Century Companies Inc. now owns 743,140 shares of the company’s stock worth $8,695,000 after acquiring an additional 23,170 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in Mineralys Therapeutics by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 696,280 shares of the company’s stock valued at $8,432,000 after acquiring an additional 13,023 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Trading Down 7.0 %

The stock’s fifty day simple moving average is $12.98 and its 200 day simple moving average is $12.65. The company has a market cap of $619.10 million, a price-to-earnings ratio of -3.81 and a beta of 1.71.

Mineralys Therapeutics Company Profile

Mineralys Therapeutics, Inc, a clinical-stage biopharmaceutical company that develops therapies for the treatment of hypertension and chronic kidney diseases. It clinical-stage product candidate is lorundrostat, a proprietary, orally administered, highly selective aldosterone synthase inhibitor for the treatment of cardiorenal conditions affected by abnormally elevated aldosterone.