Mineralys Therapeutics (MLYS) Expected to Announce Earnings on Wednesday

Mineralys Therapeutics (NASDAQ:MLYS) is projected to issue its results before the market opens on Wednesday, February 11th. Analysts expect the company to announce earnings of ($0.57) per share for the quarter.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.14. On average, analysts expect Mineralys Therapeutics to post $-4 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

Mineralys Therapeutics Stock Performance

Shares of Mineralys Therapeutics stock opened at $31.74 on Tuesday. The business’s 50 day moving average price is $34.68 and its 200 day moving average price is $33.26. The company has a market cap of $2.51 billion, a price-to-earnings ratio of -10.76 and a beta of 0.52. Mineralys Therapeutics has a one year low of $8.24 and a one year high of $47.65.

Insider Buying and Selling at Mineralys Therapeutics

In related news, Director Daphne Karydas sold 15,000 shares of Mineralys Therapeutics stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $45.99, for a total value of $689,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Malcom Rodman sold 11,367 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $32.61, for a total value of $370,677.87. Following the completion of the sale, the insider directly owned 50,437 shares in the company, valued at approximately $1,644,750.57. The trade was a 18.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,352,431 shares of company stock valued at $56,006,614. 33.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Mineralys Therapeutics by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock valued at $271,000 after buying an additional 702 shares during the period. Velan Capital Investment Management LP boosted its holdings in Mineralys Therapeutics by 0.6% during the 3rd quarter. Velan Capital Investment Management LP now owns 175,600 shares of the company’s stock valued at $6,659,000 after acquiring an additional 1,000 shares during the period. Russell Investments Group Ltd. grew its position in Mineralys Therapeutics by 14,091.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock valued at $124,000 after acquiring an additional 3,241 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Mineralys Therapeutics by 29.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,775 shares of the company’s stock valued at $200,000 after acquiring an additional 3,390 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in Mineralys Therapeutics by 38.3% during the second quarter. Federated Hermes Inc. now owns 16,528 shares of the company’s stock worth $224,000 after purchasing an additional 4,577 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on MLYS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Thursday, January 22nd. HC Wainwright raised their price objective on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Wells Fargo & Company boosted their target price on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. Finally, Stifel Nicolaus increased their price target on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $47.43.

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. The company was formerly known as Catalys SC1, Inc and changed its name to Mineralys Therapeutics, Inc in May 2020. The company was incorporated in 2019 and is headquartered in Radnor, Pennsylvania.