Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Given Average Recommendation of “Moderate Buy” by Brokerages

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $47.4286.

MLYS has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price target on shares of Mineralys Therapeutics from $32.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, September 9th. Jefferies Financial Group increased their target price on Mineralys Therapeutics from $15.00 to $26.00 and gave the stock a “hold” rating in a research note on Wednesday, September 3rd. Stifel Nicolaus lifted their price target on Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their target price on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th.

Mineralys Therapeutics Trading Down 3.6%

Mineralys Therapeutics stock opened at $35.50 on Wednesday. Mineralys Therapeutics has a twelve month low of $8.24 and a twelve month high of $47.65. The stock has a 50 day moving average of $39.90 and a two-hundred day moving average of $29.42. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -12.03 and a beta of 0.40.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.14. Equities analysts predict that Mineralys Therapeutics will post -4.23 earnings per share for the current year.

Insider Transactions at Mineralys Therapeutics

In other news, Director Daphne Karydas sold 15,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $45.99, for a total value of $689,850.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian Taylor Slingsby sold 1,000,000 shares of Mineralys Therapeutics stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $43.35, for a total value of $43,350,000.00. Following the transaction, the director directly owned 7,903,838 shares of the company’s stock, valued at $342,631,377.30. This trade represents a 11.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,405,426 shares of company stock worth $61,610,431 over the last ninety days. 33.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Mineralys Therapeutics

Large investors have recently modified their holdings of the business. Hudson Bay Capital Management LP acquired a new position in shares of Mineralys Therapeutics during the 3rd quarter worth approximately $2,873,000. Armistice Capital LLC increased its position in Mineralys Therapeutics by 185.2% during the third quarter. Armistice Capital LLC now owns 507,650 shares of the company’s stock worth $19,250,000 after buying an additional 329,650 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Mineralys Therapeutics in the third quarter worth $714,000. Velan Capital Investment Management LP lifted its position in shares of Mineralys Therapeutics by 0.6% in the third quarter. Velan Capital Investment Management LP now owns 175,600 shares of the company’s stock valued at $6,659,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of Mineralys Therapeutics during the third quarter valued at $700,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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. The company was formerly known as Catalys SC1, Inc and changed its name to Mineralys Therapeutics, Inc in May 2020. The company was incorporated in 2019 and is headquartered in Radnor, Pennsylvania.