Mineralys Therapeutics (NASDAQ:MLYS) Shares Down 3.7%

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) shares fell 3.7% on Thursday . The company traded as low as $11.19 and last traded at $11.55. 134,670 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 156,938 shares. The stock had previously closed at $12.00.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MLYS. The Goldman Sachs Group began coverage on shares of Mineralys Therapeutics in a report on Tuesday, April 2nd. They issued a “buy” rating and a $30.00 price objective on the stock. Lifesci Capital restated an “outperform” rating on shares of Mineralys Therapeutics in a report on Tuesday, March 26th.

Mineralys Therapeutics Price Performance

The company has a market cap of $534.52 million, a P/E ratio of -5.63 and a beta of 2.35. The stock’s 50-day moving average is $13.78 and its two-hundred day moving average is $10.31.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.61) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.24. On average, analysts predict that Mineralys Therapeutics, Inc. will post -2.44 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Samsara Biocapital Gp, Llc acquired 555,555 shares of Mineralys Therapeutics stock in a transaction dated Monday, February 12th. The stock was purchased at an average cost of $13.50 per share, with a total value of $7,499,992.50. Following the completion of the purchase, the insider now directly owns 5,074,916 shares in the company, valued at approximately $68,511,366. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Institutional Trading of Mineralys Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC purchased a new position in Mineralys Therapeutics during the first quarter valued at $196,000. California State Teachers Retirement System purchased a new position in Mineralys Therapeutics during the first quarter valued at $70,000. Bank of New York Mellon Corp purchased a new position in Mineralys Therapeutics during the first quarter valued at $521,000. Rhumbline Advisers purchased a new position in Mineralys Therapeutics during the first quarter valued at $172,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Mineralys Therapeutics during the first quarter valued at $1,393,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.