Mineralys Therapeutics (NASDAQ:MLYS) Shares Gap Up After Better-Than-Expected Earnings

Mineralys Therapeutics, Inc. (NASDAQ:MLYS)’s share price gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $9.66, but opened at $10.61. Mineralys Therapeutics shares last traded at $10.33, with a volume of 167,520 shares traded.

The company reported ($0.98) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.02.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Mineralys Therapeutics

In other news, CEO Jon Congleton sold 18,333 shares of the business’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 sale, the chief executive officer now owns 877,608 shares of the company’s stock, valued at approximately $7,951,128.48. The trade was a 2.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Adam Scott Levy sold 10,757 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $9.10, for a total value of $97,888.70. Following the completion of the sale, the chief financial officer now directly owns 226,097 shares in the company, valued at $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 insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. lifted its position in shares of Mineralys Therapeutics by 17.7% in the third quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company’s stock worth $21,138,000 after buying an additional 262,922 shares during the last quarter. Vanguard Group Inc. increased its stake in Mineralys Therapeutics by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 1,432,042 shares of the company’s stock valued at $17,628,000 after acquiring an additional 68,811 shares during the period. Jennison Associates LLC increased its stake in Mineralys Therapeutics by 55.4% during the fourth quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock valued at $13,319,000 after acquiring an additional 385,726 shares during the period. Caligan Partners LP increased its stake in Mineralys Therapeutics by 31.6% during the third quarter. Caligan Partners LP now owns 981,155 shares of the company’s stock valued at $11,882,000 after acquiring an additional 235,397 shares during the period. Finally, Geode Capital Management LLC increased its stake in Mineralys Therapeutics by 6.6% during the third quarter. Geode Capital Management LLC now owns 620,853 shares of the company’s stock valued at $7,520,000 after acquiring an additional 38,527 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Price Performance

The stock has a market capitalization of $514.37 million, a P/E ratio of -3.16 and a beta of 1.44. The firm has a 50 day moving average of $11.25 and a 200-day moving average of $12.04.

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.