Mineralys Therapeutics (NASDAQ:MLYS) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Mineralys Therapeutics (NASDAQ:MLYS) in a report released on Tuesday morning,Benzinga reports. HC Wainwright currently has a $42.00 target price on the stock.

Other analysts have also issued research reports about the company. Guggenheim set a $48.00 target price on Mineralys Therapeutics and gave the company a “buy” rating in a report on Wednesday, May 14th. Jefferies Financial Group started coverage on shares of Mineralys Therapeutics in a research report on Tuesday, June 10th. They issued a “hold” rating and a $15.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $32.25.

Mineralys Therapeutics Trading Up 2.5%

Shares of MLYS opened at $13.78 on Tuesday. Mineralys Therapeutics has a twelve month low of $8.24 and a twelve month high of $18.38. The firm has a market capitalization of $898.18 million, a P/E ratio of -3.69 and a beta of -0.17. The firm’s 50-day moving average is $14.79 and its two-hundred day moving average is $12.86.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.79) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.23. Analysts predict that Mineralys Therapeutics will post -4.23 EPS for the current year.

Insiders Place Their Bets

In related news, insider David Malcom Rodman sold 11,366 shares of Mineralys Therapeutics stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $15.29, for a total transaction of $173,786.14. Following the completion of the sale, the insider now owns 106,669 shares in the company, valued at approximately $1,630,969.01. This trade represents a 9.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jon Congleton sold 15,319 shares of the company’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $12.19, for a total transaction of $186,738.61. Following the completion of the transaction, the chief executive officer now owns 862,289 shares in the company, valued at approximately $10,511,302.91. This trade represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,579 shares of company stock valued at $1,534,353. Corporate insiders own 33.24% of the company’s stock.

Hedge Funds Weigh In On Mineralys Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. grew its stake in Mineralys Therapeutics by 297.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company’s stock worth $25,000 after acquiring an additional 1,190 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Mineralys Therapeutics during the fourth quarter worth $48,000. Quarry LP purchased a new stake in shares of Mineralys Therapeutics in the first quarter valued at $111,000. ProShare Advisors LLC purchased a new stake in shares of Mineralys Therapeutics in the fourth quarter valued at $128,000. Finally, CWM LLC increased its stake in Mineralys Therapeutics by 59.3% in the first quarter. CWM LLC now owns 8,342 shares of the company’s stock valued at $132,000 after purchasing an additional 3,105 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Company Profile

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.