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

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The average twelve-month price objective 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 analyst reports. Wells Fargo & Company boosted their price objective on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. Stifel Nicolaus raised their target price on Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Thursday, January 22nd. Finally, HC Wainwright increased their price objective on Mineralys Therapeutics from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th.

Insider Buying and Selling

In other news, insider David Malcom Rodman sold 14,055 shares of Mineralys Therapeutics stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $27.44, for a total transaction of $385,669.20. Following the sale, the insider owned 44,089 shares of the company’s stock, valued at approximately $1,209,802.16. The trade was a 24.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Adam Scott Levy sold 10,758 shares of the stock in a transaction dated 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 transaction, the chief financial officer directly owned 8,638 shares of the company’s stock, valued at approximately $277,625.32. The trade was a 55.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 340,748 shares of company stock valued at $11,697,169 over the last quarter. 25.56% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Simplify Asset Management Inc. bought a new position in Mineralys Therapeutics during the 3rd quarter valued at approximately $8,294,000. Geode Capital Management LLC grew its stake 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 worth $12,917,000 after acquiring an additional 152,560 shares during the last quarter. 22NW LP increased its holdings 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 acquiring an additional 98,698 shares in the last quarter. Pale Fire Capital SE increased its holdings in shares of Mineralys Therapeutics by 11.8% during the second quarter. Pale Fire Capital SE now owns 446,626 shares of the company’s stock valued at $6,043,000 after acquiring an additional 47,128 shares in the last quarter. Finally, Voya Investment Management LLC raised its position 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. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Price Performance

Shares of NASDAQ MLYS opened at $27.94 on Thursday. The firm’s fifty day moving average is $33.34 and its 200 day moving average is $33.83. Mineralys Therapeutics has a 52 week low of $8.24 and a 52 week high of $47.65. The company has a market cap of $2.21 billion, a price-to-earnings ratio of -9.47 and a beta of 0.51.

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.