Mineralys Therapeutics (NASDAQ:MLYS) Hits New 1-Year Low – Here’s What Happened

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) reached a new 52-week low on Tuesday. The company traded as low as $21.22 and last traded at $21.1750, with a volume of 1,234,950 shares changing hands. The stock had previously closed at $22.23.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MLYS shares. UBS Group assumed coverage on shares of Mineralys Therapeutics in a research note on Sunday. They set a “neutral” rating and a $29.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $56.00 price objective on shares of Mineralys Therapeutics in a research note on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Zacks Research upgraded shares of Mineralys Therapeutics from a “strong sell” rating to a “hold” rating in a report on Friday, September 11th. Finally, Wall Street Zen cut shares of Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $45.50.

Mineralys Therapeutics Trading Down 1.1%

The company has a 50-day moving average price of $26.20 and a two-hundred day moving average price of $26.90. The stock has a market cap of $1.84 billion, a P/E ratio of -4.90 and a beta of 0.69. The company has a current ratio of 34.46, a quick ratio of 34.46 and a debt-to-equity ratio of 0.18.

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). On average, research analysts expect that Mineralys Therapeutics, Inc. will post -4.45 EPS for the current fiscal year.

Insider Transactions at Mineralys Therapeutics

In related news, Director Brian Slingsby sold 104,320 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $28.81, for a total transaction of $3,005,459.20. Following the transaction, the director directly owned 7,805,718 shares in the company, valued at approximately $224,882,735.58. This represents a 1.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric Warren sold 7,438 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $28.12, for a total transaction of $209,156.56. Following the transaction, the insider owned 38,400 shares in the company, valued at $1,079,808. The trade was a 16.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 206,803 shares of company stock worth $5,661,713. 18.94% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. KBC Group NV purchased a new position in Mineralys Therapeutics during the 1st quarter valued at $33,000. FNY Investment Advisers LLC increased its stake in Mineralys Therapeutics by 400.0% in the second quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company’s stock worth $67,000 after purchasing an additional 2,000 shares during the period. 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 worth $556,000 after purchasing an additional 2,298 shares during the period. Arizona State Retirement System increased its stake in Mineralys Therapeutics by 22.4% in 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 during the period. Finally, Sei Investments Co. lifted its position in shares of Mineralys Therapeutics by 33.2% during the first quarter. Sei Investments Co. now owns 11,692 shares of the company’s stock worth $317,000 after purchasing an additional 2,912 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Company Profile

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.