Mineralys Therapeutics (NASDAQ:MLYS) Shares Gap Up After Better-Than-Expected Earnings

Mineralys Therapeutics, Inc. (NASDAQ:MLYS)’s stock price gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $9.66, but opened at $10.61. Mineralys Therapeutics shares last traded at $10.33, with a volume of 167,520 shares trading hands.

The company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.00) by $0.02.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Mineralys Therapeutics in a research report on Tuesday, November 12th.

Insider Activity at Mineralys Therapeutics

In other news, CEO Jon Congleton sold 18,333 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $9.06, for a total transaction of $166,096.98. Following the completion of the sale, the chief executive officer now owns 877,608 shares of the company’s stock, valued at approximately $7,951,128.48. This represents a 2.05 % decrease in their position. The sale was disclosed in a legal filing 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 shares were sold at an average price of $9.10, for a total value 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. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. 33.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Mineralys Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of Mineralys Therapeutics during the 3rd quarter valued at approximately $110,000. China Universal Asset Management Co. Ltd. boosted its position in Mineralys Therapeutics by 64.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock valued at $116,000 after buying an additional 3,732 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Mineralys Therapeutics during the second quarter worth $145,000. PDT Partners LLC acquired a new position in shares of Mineralys Therapeutics during the third quarter worth $148,000. Finally, EntryPoint Capital LLC bought a new position in shares of Mineralys Therapeutics in the 4th quarter valued at $154,000. 84.46% of the stock is currently owned by institutional investors.

Mineralys Therapeutics Stock Performance

The company has a market cap of $529.06 million, a price-to-earnings ratio of -3.25 and a beta of 1.44. The company has a fifty day moving average of $11.25 and a two-hundred day moving average of $12.04.

About Mineralys Therapeutics

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.