Mineralys Therapeutics (NASDAQ:MLYS) Posts Earnings Results, Beats Expectations By $0.02 EPS

Mineralys Therapeutics (NASDAQ:MLYS) released its earnings results on Wednesday. The company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.02, Zacks reports.

Mineralys Therapeutics Stock Performance

Mineralys Therapeutics stock traded up $0.26 during midday trading on Friday, reaching $10.46. The company’s stock had a trading volume of 83,326 shares, compared to its average volume of 265,695. Mineralys Therapeutics has a fifty-two week low of $8.58 and a fifty-two week high of $16.91. The stock’s 50 day simple moving average is $11.17 and its 200 day simple moving average is $12.01. The firm has a market capitalization of $520.59 million, a PE ratio of -3.20 and a beta of 1.44.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MLYS shares. The Goldman Sachs Group lowered their target price on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Mineralys Therapeutics in a research report on Thursday.

Insider Buying and Selling at Mineralys Therapeutics

In other news, CEO Jon Congleton sold 18,333 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $9.06, for a total value of $166,096.98. Following the completion of the transaction, the chief executive officer now owns 877,608 shares in the company, valued at $7,951,128.48. This trade represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $9.10, for a total value of $97,888.70. Following the completion of the transaction, the chief financial officer now owns 226,097 shares of the company’s stock, valued at approximately $2,057,482.70. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. 33.24% of the stock is owned by corporate insiders.

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.