Mineralys Therapeutics (NASDAQ:MLYS) Issues Earnings Results, Beats Estimates By $0.02 EPS

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.02, Zacks reports.

Mineralys Therapeutics Price Performance

Shares of NASDAQ:MLYS traded up $0.04 during trading hours on Friday, hitting $10.24. The stock had a trading volume of 245,931 shares, compared to its average volume of 245,550. The stock's fifty day simple moving average is $11.11 and its 200 day simple moving average is $11.99. Mineralys Therapeutics has a 1-year low of $8.58 and a 1-year high of $16.91.

Wall Street Analysts Forecast Growth

MLYS has been the subject of several recent research reports. The Goldman Sachs Group cut their price target on Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating for the company in a report on Thursday. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price objective on shares of Mineralys Therapeutics in a report on Thursday.

Insider Activity

In other news, CEO Jon Congleton sold 18,333 shares of Mineralys Therapeutics stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $9.06, for a total transaction of $166,096.98. Following the sale, the chief executive officer now directly owns 877,608 shares in the company, valued at approximately $7,951,128.48. The trade was a 2.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer now owns 226,097 shares in the company, valued at approximately $2,057,482.70. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 33.24% 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.