Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Receives $43.50 Average Price Target from Brokerages

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) have been given an average recommendation of “Moderate Buy” by the seven research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $43.50.

A number of research analysts recently commented on the company. HC Wainwright reissued a “buy” rating and issued a $42.00 price target on shares of Mineralys Therapeutics in a report on Monday, September 8th. Wall Street Zen upgraded Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 22nd. The Goldman Sachs Group upped their price objective on Mineralys Therapeutics from $32.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, September 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group upped their price objective on Mineralys Therapeutics from $15.00 to $26.00 and gave the company a “hold” rating in a research note on Wednesday, September 3rd.

Mineralys Therapeutics Stock Performance

Shares of MLYS opened at $43.56 on Friday. The company has a market capitalization of $2.89 billion, a P/E ratio of -12.24 and a beta of 0.40. Mineralys Therapeutics has a one year low of $8.24 and a one year high of $44.80. The stock has a 50-day moving average price of $30.76 and a 200 day moving average price of $20.06.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.66) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.12. As a group, equities research analysts forecast that Mineralys Therapeutics will post -4.23 earnings per share for the current fiscal year.

Insider Activity

In other Mineralys Therapeutics news, CEO Jon Congleton sold 15,100 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $42.67, for a total transaction of $644,317.00. Following the sale, the chief executive officer owned 831,305 shares in the company, valued at $35,471,784.35. This represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider David Malcom Rodman sold 10,369 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $43.01, for a total value of $445,970.69. Following the sale, the insider owned 71,155 shares in the company, valued at $3,060,376.55. The trade was a 12.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 132,637 shares of company stock valued at $3,175,946 over the last three months. Company insiders own 33.24% of the company’s stock.

Institutional Trading of Mineralys Therapeutics

Several hedge funds have recently made changes to their positions in the stock. Voya Investment Management LLC lifted its holdings in shares of Mineralys Therapeutics by 174.4% in the 3rd quarter. Voya Investment Management LLC now owns 138,526 shares of the company’s stock worth $5,253,000 after purchasing an additional 88,050 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Mineralys Therapeutics by 31.0% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 13,090 shares of the company’s stock worth $177,000 after purchasing an additional 3,094 shares during the last quarter. Rafferty Asset Management LLC bought a new stake in shares of Mineralys Therapeutics in the 2nd quarter worth approximately $776,000. Man Group plc lifted its holdings in shares of Mineralys Therapeutics by 50.1% in the 2nd quarter. Man Group plc now owns 21,852 shares of the company’s stock worth $296,000 after purchasing an additional 7,293 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of Mineralys Therapeutics by 37.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 205,723 shares of the company’s stock worth $2,783,000 after purchasing an additional 56,450 shares during the last quarter. 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.