Mineralys Therapeutics (NASDAQ:MLYS) Reaches New 1-Year Low – What’s Next?

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) reached a new 52-week low during trading on Tuesday. The company traded as low as $22.16 and last traded at $22.17, with a volume of 416960 shares. The stock had previously closed at $23.30.

Analyst Upgrades and Downgrades

MLYS has been the topic of several research reports. Wall Street Zen downgraded shares of Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Zacks Research raised shares of Mineralys Therapeutics from a “strong sell” rating to a “hold” rating in a report on Friday, September 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Friday, July 17th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.80.

Mineralys Therapeutics Stock Performance

The firm has a market cap of $1.96 billion, a P/E ratio of -5.24 and a beta of 0.69. The company has a debt-to-equity ratio of 0.18, a quick ratio of 34.46 and a current ratio of 34.46. The business’s 50-day simple moving average is $26.63 and its 200 day simple moving average is $26.97.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($2.85) EPS for the quarter, missing the consensus estimate of ($0.55) by ($2.30). As a group, equities analysts predict that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Daphne Karydas sold 3,000 shares of Mineralys Therapeutics stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $28.58, for a total value of $85,740.00. Following the completion of the transaction, the director owned 6,200 shares in the company, valued at approximately $177,196. This trade represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 completion of the sale, the director owned 7,805,718 shares of the company’s stock, valued at approximately $224,882,735.58. This represents a 1.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 206,803 shares of company stock valued at $5,661,713 in the last ninety days. Company insiders own 18.94% of the company’s stock.

Institutional Investors Weigh In On Mineralys Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. KBC Group NV acquired a new stake in shares of Mineralys Therapeutics during the 1st quarter worth about $33,000. Caitong International Asset Management Co. Ltd boosted its holdings in Mineralys Therapeutics by 1,845.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock valued at $76,000 after purchasing an additional 1,993 shares in the last quarter. FNY Investment Advisers LLC boosted its holdings in Mineralys Therapeutics by 400.0% in the second quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company’s stock valued at $67,000 after purchasing an additional 2,000 shares in the last quarter. Quantinno Capital Management LP increased its stake in Mineralys Therapeutics by 12.6% in the first quarter. Quantinno Capital Management LP now owns 20,541 shares of the company’s stock valued at $556,000 after purchasing an additional 2,298 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in Mineralys Therapeutics by 22.4% during the second quarter. Arizona State Retirement System now owns 15,357 shares of the company’s stock worth $414,000 after purchasing an additional 2,815 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

About Mineralys Therapeutics

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for hypertension and other cardiovascular and kidney-related conditions associated with excess aldosterone activity. The company is headquartered in Radnor, Pennsylvania.

Mineralys’ lead product candidate is lorundrostat, an oral, highly selective aldosterone synthase inhibitor designed to reduce the production of aldosterone. The company is evaluating lorundrostat as a potential treatment for uncontrolled or resistant hypertension, including hypertension linked to abnormal activation of the renin-angiotensin-aldosterone system.

Mineralys was established to advance therapies targeting aldosterone-driven disease and became a publicly traded company on the Nasdaq exchange in 2023.