Mineralys Therapeutics (NASDAQ:MLYS) Shares Gap Down – Should You Sell?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) shares gapped down prior to trading on Tuesday . 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.

Wall Street Analysts Forecast Growth

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

Mineralys Therapeutics Price Performance

The stock has a market cap of $666.88 million, a price-to-earnings ratio of -5.51 and a beta of 1.71. The firm has a 50 day simple moving average of $12.95 and a two-hundred day simple moving average of $12.64.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results on Tuesday, August 13th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.10). During the same quarter last year, the business earned ($0.31) earnings per share. On average, sell-side analysts expect that Mineralys Therapeutics, Inc. will post -3.08 earnings per share for the current fiscal year.

Insider Activity

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 25,482 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 135,974 shares of the company’s stock, valued at $2,043,689.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jon Congleton sold 15,271 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $13.52, for a total transaction of $206,463.92. Following the completion of 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 legal filing with the SEC, which can be accessed through this link. Also, insider David Malcom Rodman sold 25,482 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 135,974 shares of the company’s stock, valued at $2,043,689.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 51,510 shares of company stock worth $735,431. 33.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Mineralys Therapeutics during the 3rd quarter valued at about $110,000. Bellevue Group AG purchased a new stake in shares of Mineralys Therapeutics in the 1st quarter worth $119,000. China Universal Asset Management Co. Ltd. boosted its holdings in Mineralys Therapeutics by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock worth $116,000 after buying an additional 3,732 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Mineralys Therapeutics by 100.0% during the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock valued at $140,000 after purchasing an additional 6,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Mineralys Therapeutics during the 2nd quarter valued at about $145,000. Hedge funds and other institutional investors own 84.46% 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.