HC Wainwright Has Bearish Estimate for MLYS FY2024 Earnings

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) – Equities researchers at HC Wainwright reduced their FY2024 EPS estimates for shares of Mineralys Therapeutics in a research note issued on Tuesday, November 12th. HC Wainwright analyst M. Caufield now forecasts that the company will earn ($3.83) per share for the year, down from their prior forecast of ($3.22). HC Wainwright has a “Buy” rating and a $30.00 price target on the stock. The consensus estimate for Mineralys Therapeutics’ current full-year earnings is ($3.08) per share. HC Wainwright also issued estimates for Mineralys Therapeutics’ Q4 2024 earnings at ($1.14) EPS, FY2025 earnings at ($4.10) EPS, FY2026 earnings at ($3.41) EPS, FY2027 earnings at ($3.54) EPS and FY2028 earnings at ($1.85) EPS.

Mineralys Therapeutics Stock Down 7.0 %

Shares of NASDAQ MLYS opened at $12.45 on Thursday. Mineralys Therapeutics has a 12 month low of $5.85 and a 12 month high of $16.91. The business has a fifty day simple moving average of $12.98 and a 200-day simple moving average of $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 (NASDAQ:MLYS) last issued its quarterly earnings results on Monday, November 11th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.30). During the same period in the previous year, the company posted ($0.57) EPS.

Hedge Funds Weigh In On Mineralys Therapeutics

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Mineralys Therapeutics by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 982,932 shares of the company’s stock valued at $12,690,000 after buying an additional 4,952 shares in the last quarter. SR One Capital Management LP lifted its stake in Mineralys Therapeutics by 12.4% during the first quarter. SR One Capital Management LP now owns 2,016,822 shares of the company’s stock worth $26,037,000 after purchasing an additional 222,222 shares during the period. Affinity Asset Advisors LLC acquired a new stake in Mineralys Therapeutics during the first quarter valued at approximately $4,234,000. Bellevue Group AG bought a new stake in shares of Mineralys Therapeutics in the 1st quarter valued at approximately $119,000. Finally, RA Capital Management L.P. grew its stake in shares of 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 period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Buying and Selling

In other news, insider David Malcom Rodman sold 25,482 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $15.03, for a total value of $382,994.46. Following the completion of the sale, the insider now directly owns 135,974 shares of the company’s stock, valued at $2,043,689.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider David Malcom Rodman sold 25,482 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $15.03, for a total value of $382,994.46. Following the completion of the sale, the insider now owns 135,974 shares of the company’s stock, valued at approximately $2,043,689.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Adam Scott Levy sold 10,757 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $13.57, for a total value of $145,972.49. Following the transaction, the chief financial officer now owns 236,854 shares in the company, valued at approximately $3,214,108.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,510 shares of company stock valued at $735,431. Company insiders own 33.24% of the company’s stock.

About Mineralys Therapeutics

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.