Mineralys Therapeutics (NASDAQ:MLYS) Announces Earnings Results

Mineralys Therapeutics (NASDAQ:MLYS) announced its quarterly earnings data on Monday. The company reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.30), Zacks reports. During the same period in the previous year, the business earned ($0.57) earnings per share.

Mineralys Therapeutics Trading Down 10.3 %

Shares of Mineralys Therapeutics stock traded down $1.54 during trading hours on Tuesday, reaching $13.38. The stock had a trading volume of 397,621 shares, compared to its average volume of 179,600. The firm has a 50 day simple moving average of $12.95 and a two-hundred day simple moving average of $12.64. The firm has a market capitalization of $665.39 million, a price-to-earnings ratio of -5.51 and a beta of 1.71. Mineralys Therapeutics has a 1 year low of $5.85 and a 1 year high of $16.91.

Insider Activity

In related news, CEO Jon Congleton sold 15,271 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $13.52, for a total transaction of $206,463.92. Following the sale, the chief executive officer now directly owns 895,941 shares of the company’s stock, valued at approximately $12,113,122.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Adam Scott Levy sold 10,757 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $13.57, for a total transaction of $145,972.49. Following the completion of the transaction, the chief financial officer now owns 236,854 shares in the company, valued at $3,214,108.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jon Congleton sold 15,271 shares of Mineralys Therapeutics stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $13.52, for a total transaction of $206,463.92. Following the completion of the transaction, the chief executive officer now owns 895,941 shares of the company’s stock, valued at $12,113,122.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,510 shares of company stock worth $735,431. 33.24% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Mineralys Therapeutics in a research note on Tuesday.

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.