Mineralys Therapeutics Earnings Beat Expectations

Mineralys Therapeutics (NASDAQ:MLYS) released its quarterly earnings report on Wednesday. The company reported earnings of ($0.98) per share for the quarter, which surpassed the analysts' consensus estimate of ($1.00) by $0.02, according to Zacks reports.

Stock Performance of Mineralys Therapeutics

Following the earnings announcement, MLYS shares saw a notable increase of 4.6%. During midday trading, the stock rose by $0.45, reaching a price of $10.11. The trading volume was recorded at 67,507 shares, significantly lower than the average volume of 256,210 shares. Mineralys Therapeutics has a market capitalization of approximately $503.12 million. The company's price-to-earnings (PE) ratio currently stands at -3.06, with a beta of 1.44. The stock has a 50-day moving average price of $11.31 and a 200-day moving average price of $12.06. Notably, the stock has fluctuated within a 52-week range of $8.58 to $16.91.

Analysts' Insights and Recommendations

In related news, HC Wainwright reaffirmed a "buy" rating and set a price target of $30.00 for Mineralys Therapeutics shares in a research note dated November 12.

Insider Trading Activity

In other developments, CFO Adam Scott Levy sold 10,757 shares of the company's stock on January 13 at an average price of $9.10, totaling approximately $97,889. Following this transaction, he now holds 226,097 shares valued at about $2,057,483, reflecting a decrease of 4.54% in his ownership. Additionally, CEO Jon Congleton sold 18,333 shares on the same date at an average price of $9.06, amounting to around $166,097. After the sale, he retains ownership of 877,608 shares valued at roughly $7,951,128, marking a 2.05% reduction in his shares. Overall, insiders hold around 33.24% of the company's stock.

About Mineralys Therapeutics

Mineralys Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing treatments for hypertension and chronic kidney diseases. Their primary product candidate is lorundrostat, a proprietary oral drug designed to selectively inhibit aldosterone synthase, targeting cardiorenal conditions associated with elevated aldosterone levels.

Earnings, Stocks, Healthcare