Mineralys Therapeutics (NASDAQ:MLYS) Releases Quarterly Earnings Results, Beats Estimates By $0.23 EPS

Mineralys Therapeutics (NASDAQ:MLYS) issued its quarterly earnings results on Monday. The company reported ($0.79) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.02) by $0.23, Zacks reports.

Mineralys Therapeutics Price Performance

Shares of NASDAQ:MLYS traded up $0.36 during trading on Monday, hitting $15.01. The company’s stock had a trading volume of 873,842 shares, compared to its average volume of 450,036. The company has a 50-day moving average of $13.98 and a 200-day moving average of $12.41. Mineralys Therapeutics has a 12 month low of $8.24 and a 12 month high of $18.38. The firm has a market cap of $973.79 million, a price-to-earnings ratio of -4.12 and a beta of -0.30.

Wall Street Analyst Weigh In

Several analysts recently commented on MLYS shares. Guggenheim reissued a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, February 24th. HC Wainwright increased their price objective on shares of Mineralys Therapeutics from $30.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 2nd. Finally, The Goldman Sachs Group lowered their price objective on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th.

Insider Buying and Selling at Mineralys Therapeutics

In related news, Director Ra Capital Management, L.P. acquired 1,296,296 shares of Mineralys Therapeutics stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $13.50 per share, for a total transaction of $17,499,996.00. Following the completion of the transaction, the director now directly owns 4,280,051 shares in the company, valued at approximately $57,780,688.50. This represents a 43.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jon Congleton sold 15,319 shares of Mineralys Therapeutics stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $12.19, for a total transaction of $186,738.61. Following the sale, the chief executive officer now owns 862,289 shares in the company, valued at approximately $10,511,302.91. The trade was a 1.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,213 shares of company stock valued at $1,360,567 over the last 90 days. 25.56% of the stock is currently owned by corporate insiders.

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.