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

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat Ratings 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 objective among brokerages that have issued ratings on the stock in the last year is $47.4286.

A number of brokerages have weighed in on MLYS. Wells Fargo & Company increased their price target on Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Stifel Nicolaus upped their target price on Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Thursday. Finally, HC Wainwright boosted their price target on Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th.

Insider Buying and Selling

In related news, CEO Jon Congleton sold 16,236 shares of the business’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $32.62, for a total transaction of $529,618.32. Following the transaction, the chief executive officer owned 639,151 shares in the company, valued at $20,849,105.62. The trade was a 2.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adam Scott Levy sold 10,758 shares of the firm’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $32.14, for a total transaction of $345,762.12. Following the completion of the sale, the chief financial officer owned 8,638 shares of the company’s stock, valued at $277,625.32. The trade was a 55.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,686,955 shares of company stock worth $71,118,551 over the last ninety days. 25.56% of the stock is owned by company insiders.

Institutional Trading of Mineralys Therapeutics

Several large investors have recently made changes to their positions in the company. Simplify Asset Management Inc. bought a new position in Mineralys Therapeutics in the 3rd quarter valued at about $8,294,000. Geode Capital Management LLC lifted its holdings in shares of Mineralys Therapeutics by 19.0% in the second quarter. Geode Capital Management LLC now owns 954,560 shares of the company’s stock valued at $12,917,000 after purchasing an additional 152,560 shares in the last quarter. Voya Investment Management LLC purchased a new position in shares of Mineralys Therapeutics during the first quarter valued at approximately $255,000. 22NW LP boosted its position in shares of Mineralys Therapeutics by 21.4% during the second quarter. 22NW LP now owns 560,042 shares of the company’s stock valued at $7,577,000 after buying an additional 98,698 shares during the last quarter. Finally, Pale Fire Capital SE grew its holdings in Mineralys Therapeutics by 11.8% during the second quarter. Pale Fire Capital SE now owns 446,626 shares of the company’s stock worth $6,043,000 after buying an additional 47,128 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Mineralys Therapeutics Stock Performance

Mineralys Therapeutics stock opened at $32.76 on Friday. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of -11.11 and a beta of 0.49. Mineralys Therapeutics has a 52-week low of $8.24 and a 52-week high of $47.65. The firm has a 50 day moving average price of $37.18 and a two-hundred day moving average price of $31.81.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data 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. As a group, equities research analysts predict that Mineralys Therapeutics will post -4.23 EPS for the current fiscal year.

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. 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.