Mineralys Therapeutics (NASDAQ:MLYS) Shares Gap Down - What's Next?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) gapped down prior to trading 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 traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Guggenheim reissued a "buy" rating on shares of Mineralys Therapeutics in a research report on Monday, February 24th. HC Wainwright increased their price target on shares of Mineralys Therapeutics from $30.00 to $42.00 and gave the company a "buy" rating in a report on Wednesday, April 2nd. Finally, The Goldman Sachs Group decreased their price target on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th.

Mineralys Therapeutics Trading Up 9.9 %

The company has a fifty day moving average price of $12.21 and a two-hundred day moving average price of $12.31. The company has a market cap of $841.32 million, a price-to-earnings ratio of -3.68 and a beta of -0.39.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.00) by $0.02. Sell-side analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

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Insiders Place Their Bets

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 55,771 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $15.76, for a total transaction of $878,950.96. Following the transaction, the insider now directly owns 116,704 shares in the company, valued at approximately $1,839,255.04. This represents a 32.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction on Monday, January 13th. The stock was sold at an average price of $9.10, for a total transaction of $97,888.70. Following the sale, the chief financial officer now directly owns 226,097 shares of the company's stock, valued at $2,057,482.70. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,861 shares of company stock worth $1,142,937 over the last quarter. Company insiders own 33.24% of the company's stock.

Institutional Investors Weigh In On Mineralys Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. grew its holdings in shares of Mineralys Therapeutics by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company's stock valued at $130,000 after acquiring an additional 989 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Mineralys Therapeutics by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 214,906 shares of the company's stock worth $2,645,000 after buying an additional 1,307 shares during the last quarter. Northern Trust Corp raised its position in Mineralys Therapeutics by 0.7% during the fourth quarter. Northern Trust Corp now owns 246,113 shares of the company's stock worth $3,030,000 after acquiring an additional 1,688 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Mineralys Therapeutics by 2.7% in the fourth quarter. Bank of New York Mellon Corp now owns 65,318 shares of the company's stock valued at $804,000 after acquiring an additional 1,711 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Mineralys Therapeutics by 19.1% in the 4th quarter. Wells Fargo & Company MN now owns 23,714 shares of the company's stock valued at $292,000 after acquiring an additional 3,802 shares during the period. 84.46% of the stock is owned by institutional investors.

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.