Mineralys Therapeutics Reports Earnings, Surpasses Estimates

Mineralys Therapeutics (NASDAQ:MLYS) released its quarterly earnings on Wednesday, revealing a loss of ($0.98) earnings per share (EPS). This performance exceeded the consensus estimate of ($1.00) by $0.02, according to reports from Zacks.

Mineralys Therapeutics Stock Performance

On Wednesday, shares of MLYS saw an increase of 4.6%, trading up $0.45 to reach $10.11. During midday trading, the company experienced a volume of 67,507 shares, in comparison to its average trading volume of 256,210 shares. The market capitalization for Mineralys Therapeutics stands at $503.12 million.

Current Stock Metrics

Mineralys Therapeutics has a price-to-earnings (PE) ratio of -3.06 and a beta coefficient of 1.44. The stock’s 50-day moving average price is noted at $11.31, while its 200-day moving average stands at $12.06. Over the past year, the stock has fluctuated between a low of $8.58 and a high of $16.91.

Analyst Price Targets for Mineralys Therapeutics

In a recent research note, HC Wainwright reaffirmed a "buy" rating on Mineralys Therapeutics with a price target set at $30.00 as of November 12th.

Insider Activity

In related news, CFO Adam Scott Levy sold 10,757 shares of Mineralys stock on January 13th, at an average price of $9.10, totaling $97,888.70. Following this sale, Levy retains 226,097 shares valued at approximately $2,057,482.70, marking a 4.54% decrease in ownership. CEO Jon Congleton also sold 18,333 shares on the same date for an average price of $9.06, amounting to $166,096.98. Post-sale, Congleton has 877,608 shares, worth roughly $7,951,128.48, reflecting a 2.05% reduction in his ownership stake. Insiders hold 33.24% of the company's stock overall.

Company Overview

Mineralys Therapeutics, Inc. is a clinical-stage biopharmaceutical firm focused on developing treatments for hypertension and chronic kidney diseases. Its main product candidate is lorundrostat, an orally administered, selective aldosterone synthase inhibitor targeting cardiorenal conditions caused by elevated aldosterone levels.

Mineralys, Earnings, Stock