Mineralys Therapeutics (NASDAQ:MLYS) Shares Down 3.7% – Should You Sell?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) fell 3.7% during trading on Thursday . The stock traded as low as $12.08 and last traded at $12.13. 79,914 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 179,840 shares. The stock had previously closed at $12.60.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Mineralys Therapeutics in a report on Tuesday, November 12th.

Mineralys Therapeutics Price Performance

The firm has a 50 day simple moving average of $13.03 and a 200-day simple moving average of $12.63.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Monday, November 11th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.30). During the same quarter last year, the business posted ($0.57) EPS. On average, equities research analysts forecast that Mineralys Therapeutics, Inc. will post -3.63 EPS for the current fiscal year.

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $13.57, for a total transaction of $145,972.49. Following the completion of the sale, the chief financial officer now directly owns 236,854 shares in the company, valued at $3,214,108.78. This represents a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Malcom Rodman sold 25,482 shares of the business’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 transaction, the insider now directly owns 135,974 shares of the company’s stock, valued at $2,043,689.22. This trade represents a 15.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,510 shares of company stock worth $735,431. Corporate insiders own 33.24% of the company’s stock.

Institutional Trading of Mineralys Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. lifted its stake in shares of 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 valued at $116,000 after acquiring an additional 3,732 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Mineralys Therapeutics by 0.5% during the first quarter. Vanguard Group Inc. now owns 982,932 shares of the company’s stock valued at $12,690,000 after purchasing an additional 4,952 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Mineralys Therapeutics by 100.0% during the second quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock worth $140,000 after purchasing an additional 6,000 shares during the last quarter. Verition Fund Management LLC increased its stake in shares of Mineralys Therapeutics by 30.6% in the third quarter. Verition Fund Management LLC now owns 27,361 shares of the company’s stock valued at $331,000 after buying an additional 6,408 shares during the period. Finally, SG Americas Securities LLC bought a new position in Mineralys Therapeutics in the 3rd quarter valued at approximately $110,000. Institutional investors and hedge funds 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.