Mineralys Therapeutics (NASDAQ:MLYS) Shares Gap Down – Time to Sell?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) gapped down before the market opened on Tuesday . The stock had previously closed at $12.05, but opened at $11.39. Mineralys Therapeutics shares last traded at $12.61, with a volume of 250,862 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. The Goldman Sachs Group dropped their price objective 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 lifted their price objective on Mineralys Therapeutics from $30.00 to $42.00 and gave the company 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.

Mineralys Therapeutics Stock Performance

The stock’s 50 day simple moving average is $11.94 and its two-hundred day simple moving average is $12.28. The firm has a market capitalization of $787.32 million, a PE ratio of -3.45 and a beta of -0.39.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.02. Equities research analysts expect that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Adam Scott Levy sold 10,757 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $9.10, for a total transaction of $97,888.70. Following the completion of the sale, the chief financial officer now owns 226,097 shares of the company’s stock, valued at approximately $2,057,482.70. This trade represents a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jon Congleton sold 18,333 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $9.06, for a total value of $166,096.98. Following the transaction, the chief executive officer now directly owns 877,608 shares in the company, valued at approximately $7,951,128.48. This represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,861 shares of company stock worth $1,142,937 in the last ninety days. Insiders own 33.24% of the company’s stock.

Institutional Investors Weigh In On Mineralys Therapeutics

Hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. lifted its stake in Mineralys Therapeutics by 17.7% during the third quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company’s stock valued at $21,138,000 after buying an additional 262,922 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Mineralys Therapeutics by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 1,432,042 shares of the company’s stock valued at $17,628,000 after buying an additional 68,811 shares during the last quarter. Millennium Management LLC increased its holdings in Mineralys Therapeutics by 1,015.8% in the 4th quarter. Millennium Management LLC now owns 1,101,674 shares of the company’s stock valued at $13,562,000 after buying an additional 1,002,941 shares during the period. Jennison Associates LLC boosted its holdings in Mineralys Therapeutics by 55.4% during the fourth quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock valued at $13,319,000 after purchasing an additional 385,726 shares in the last quarter. Finally, Caligan Partners LP increased its position in shares of Mineralys Therapeutics by 3.1% during the 4th quarter. Caligan Partners LP now owns 1,011,155 shares of the company’s stock worth $12,447,000 after purchasing an additional 30,000 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Company Profile

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.