Mineralys Therapeutics (NASDAQ:MLYS) Issues Quarterly Earnings Results, Beats Estimates By $0.23 EPS

Mineralys Therapeutics (NASDAQ:MLYS) released its quarterly earnings results on Monday. The company reported ($0.79) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.23, Zacks reports.

Mineralys Therapeutics Stock Up 2.5%

NASDAQ:MLYS traded up $0.36 during mid-day trading on Monday, hitting $15.01. 873,842 shares of the stock traded hands, compared to its average volume of 450,036. The business’s 50-day moving average price is $13.98 and its 200 day moving average price is $12.41. The company has a market cap of $973.79 million, a PE ratio of -4.12 and a beta of -0.30. Mineralys Therapeutics has a 12-month low of $8.24 and a 12-month high of $18.38.

Insiders Place Their Bets

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 11,366 shares of the company’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $14.53, for a total value of $165,147.98. Following the completion of the transaction, the insider now directly owns 111,686 shares in the company, valued at approximately $1,622,797.58. This represents a 9.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ra Capital Management, L.P. acquired 1,296,296 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $13.50 per share, with a total value of $17,499,996.00. Following the completion of the acquisition, the director now directly owns 4,280,051 shares in the company, valued at approximately $57,780,688.50. This represents a 43.45% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 93,213 shares of company stock valued at $1,360,567 in the last quarter. Corporate insiders own 25.56% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group dropped their price target on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. HC Wainwright raised their price target on shares of Mineralys Therapeutics from $30.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 2nd. Finally, Guggenheim restated a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, February 24th.

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.