Mineralys Therapeutics (NASDAQ:MLYS) Stock Price Down 7.1% – Should You Sell?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS)’s share price dropped 7.1% during trading on Monday. The stock traded as low as $17.11 and last traded at $16.8860. 447,832 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 1,301,500 shares. The stock had previously closed at $18.18.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MLYS. HC Wainwright reiterated a “buy” rating and set a $56.00 target price on shares of Mineralys Therapeutics in a research note on Monday, October 12th. Zacks Research upgraded Mineralys Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, September 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Thursday, October 15th. Wall Street Zen lowered Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Finally, UBS Group assumed coverage on Mineralys Therapeutics in a research report on Sunday, October 11th. They set a “neutral” rating and a $29.00 price objective on the stock. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Mineralys Therapeutics presently has a consensus rating of “Hold” and an average price target of $45.50.

Mineralys Therapeutics Stock Down 9.5%

The company has a current ratio of 34.46, a quick ratio of 34.46 and a debt-to-equity ratio of 0.18. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -3.89 and a beta of 0.69. The firm’s 50 day simple moving average is $24.78 and its two-hundred day simple moving average is $27.03.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results on Wednesday, August 12th. The company reported ($2.85) EPS for the quarter, missing the consensus estimate of ($0.55) by ($2.30). On average, equities analysts forecast that Mineralys Therapeutics, Inc. will post -4.45 EPS for the current year.

Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, CEO Jon Congleton sold 75,000 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $25.46, for a total transaction of $1,909,500.00. Following the transaction, the chief executive officer owned 528,621 shares in the company, valued at $13,458,690.66. This trade represents a 12.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brian Slingsby sold 104,320 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $28.81, for a total value of $3,005,459.20. Following the transaction, the director owned 7,805,718 shares in the company, valued at approximately $224,882,735.58. This trade represents a 1.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 199,365 shares of company stock valued at $5,461,854 over the last ninety days. 18.94% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. KBC Group NV acquired a new stake in Mineralys Therapeutics during the first quarter worth about $33,000. Sterling Capital Management LLC raised its position in shares of Mineralys Therapeutics by 902.0% in the 3rd quarter. Sterling Capital Management LLC now owns 2,024 shares of the company’s stock valued at $51,000 after buying an additional 1,822 shares in the last quarter. FNY Investment Advisers LLC lifted its holdings in shares of Mineralys Therapeutics by 400.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company’s stock worth $67,000 after acquiring an additional 2,000 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Mineralys Therapeutics during the 3rd quarter worth approximately $114,000. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Mineralys Therapeutics during the 2nd quarter worth approximately $226,000. Institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Company Profile

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cardiovascular and kidney diseases associated with excess aldosterone activity. The company’s research centers on selectively targeting aldosterone production, a mechanism involved in blood-pressure regulation and organ damage.

Mineralys’ lead product candidate is lorundrostat, an oral, selective aldosterone synthase inhibitor being evaluated as a potential treatment for uncontrolled and resistant hypertension.