Equities Analysts Set Expectations for MLYS FY2024 Earnings

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) – Investment analysts at HC Wainwright dropped their FY2024 earnings per share (EPS) estimates for shares of Mineralys Therapeutics in a research report issued to clients and investors on Tuesday, November 12th. HC Wainwright analyst M. Caufield now expects that the company will earn ($3.83) per share for the year, down from their prior estimate of ($3.22). HC Wainwright currently has a “Buy” rating and a $30.00 price objective on the stock. The consensus estimate for Mineralys Therapeutics’ current full-year earnings is ($3.08) per share. HC Wainwright also issued estimates for Mineralys Therapeutics’ Q4 2024 earnings at ($1.14) EPS, FY2025 earnings at ($4.10) EPS, FY2026 earnings at ($3.41) EPS, FY2027 earnings at ($3.54) EPS and FY2028 earnings at ($1.85) EPS.

Mineralys Therapeutics Price Performance

Shares of NASDAQ MLYS opened at $12.17 on Thursday. Mineralys Therapeutics has a 1 year low of $5.85 and a 1 year high of $16.91. The firm has a 50-day moving average of $12.99 and a 200 day moving average of $12.65. The stock has a market cap of $605.18 million, a P/E ratio of -3.81 and a beta of 1.71.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Monday, November 11th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.30). During the same quarter last year, the firm earned ($0.57) earnings per share.

Insider Buying and Selling at Mineralys Therapeutics

In other news, CEO Jon Congleton sold 15,271 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $13.52, for a total value 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 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David Malcom Rodman sold 25,482 shares of Mineralys Therapeutics stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $15.03, for a total value of $382,994.46. Following the completion of the transaction, the insider now directly owns 135,974 shares of the company’s stock, valued at approximately $2,043,689.22. This represents a 15.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,510 shares of company stock valued at $735,431. Corporate insiders own 33.24% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MLYS. China Universal Asset Management Co. Ltd. increased its position in shares of Mineralys Therapeutics by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock valued at $116,000 after acquiring an additional 3,732 shares in the last quarter. Vanguard Group Inc. boosted its stake in Mineralys Therapeutics by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 982,932 shares of the company’s stock valued at $12,690,000 after purchasing an additional 4,952 shares during the last quarter. Federated Hermes Inc. boosted its stake in Mineralys Therapeutics by 100.0% during the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock valued at $140,000 after purchasing an additional 6,000 shares during the last quarter. Verition Fund Management LLC increased its holdings in shares of Mineralys Therapeutics by 30.6% in the 3rd quarter. Verition Fund Management LLC now owns 27,361 shares of the company’s stock worth $331,000 after purchasing an additional 6,408 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Mineralys Therapeutics in the third quarter worth $110,000. Institutional investors own 84.46% of the company’s stock.

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.