Mineralys Therapeutics (NASDAQ:MLYS) Shares Fall Following Analyst Downgrade

On February 14, 2025, shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) gapped down in pre-market trading after The Goldman Sachs Group lowered its price target for the stock from $28.00 to $24.00. Previously, the stock closed at $10.63, but opened lower at $10.15. Despite this downgrade, Goldman Sachs maintains a buy rating for the stock. At the last check, Mineralys Therapeutics shares traded at $10.28, with a trading volume of 14,179 shares.

In a separate report, HC Wainwright reaffirmed a “buy” rating for Mineralys Therapeutics and set a price target of $30.00.

Insider Transactions at Mineralys Therapeutics

In other news regarding Mineralys Therapeutics, CEO Jon Congleton sold 18,333 shares on January 13, 2025, at an average price of $9.06, totaling approximately $166,096.98. After this sale, Congleton owns 877,608 shares, valued at about $7.95 million, marking a 2.05% reduction in his holdings. This transaction was detailed in a filing with the SEC. Additionally, CFO Adam Scott Levy sold 10,757 shares on the same day at an average price of $9.10, totaling around $97,888.70. Following this sale, Levy holds 226,097 shares worth roughly $2.06 million, which is a 4.54% decrease in his position. Corporate insiders collectively own 33.24% of the company's stock.

Recent Institutional Activity

Several institutional investors have recently adjusted their stakes in Mineralys Therapeutics. The Manufacturers Life Insurance Company entered a new position in the second quarter, valued at around $145,000. SG Americas Securities LLC acquired a new stake during the third quarter, worth about $110,000. Meanwhile, China Universal Asset Management Co. Ltd. increased its holdings by 64% in the third quarter, owning 9,564 shares valued at $116,000 after an additional purchase of 3,732 shares. Jennison Associates LLC boosted its position by 1.9% in the same period, owning 696,280 shares valued at approximately $8.43 million after acquiring an extra 13,023 shares. Lastly, Charles Schwab Investment Management Inc. expanded its holdings by 4.7%, now owning 213,599 shares valued at roughly $2.59 million. Overall, institutional and hedge fund investors own 84.46% of the stock.

Stock Performance Overview

Mineralys Therapeutics shares are down 4.0% following the analyst downgrade. The company’s fifty-day moving average stands at $11.21, and its two-hundred-day moving average is $12.03. The company has a market capitalization of $507.65 million, a P/E ratio of -3.12, and a beta of 1.44.

Recently, the company announced its earnings for the quarter ending February 12, 2025, reporting an earnings per share (EPS) of -$0.98, which surpassed analysts’ expectations of -$1.00. Analysts anticipate that Mineralys Therapeutics will post an EPS of -3.63 for the current year.

About Mineralys Therapeutics

Mineralys Therapeutics, Inc. is a clinical-stage biopharmaceutical company dedicated to developing treatments for hypertension and chronic kidney diseases. Its lead candidate, lorundrostat, is an orally administered, highly selective aldosterone synthase inhibitor aimed at addressing cardiorenal conditions that feature elevated aldosterone levels.

Mineralys, Therapeutics, Analyst