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

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) has earned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat.com reports. One research 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 target among brokerages that have issued ratings on the stock in the last year is $47.4286.

Several equities analysts recently weighed in on the company. Wells Fargo & Company increased their target price on Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Jefferies Financial Group raised their target price on shares of Mineralys Therapeutics from $15.00 to $26.00 and gave the stock a “hold” rating in a research report on Wednesday, September 3rd. Stifel Nicolaus increased their price target on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. The Goldman Sachs Group lifted their price target on shares of Mineralys Therapeutics from $32.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. Finally, HC Wainwright upped 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 Activity

In other Mineralys Therapeutics news, Director Daphne Karydas sold 15,000 shares of Mineralys Therapeutics stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $45.99, for a total transaction of $689,850.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jon Congleton sold 200,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $45.44, for a total transaction of $9,088,000.00. Following the completion of the transaction, the chief executive officer directly owned 631,305 shares in the company, valued at approximately $28,686,499.20. This represents a 24.06% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,405,426 shares of company stock worth $61,610,431. Insiders own 33.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MLYS. Smartleaf Asset Management LLC increased its stake in Mineralys Therapeutics by 198.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock worth $40,000 after buying an additional 676 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Mineralys Therapeutics by 51.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock worth $34,000 after purchasing an additional 850 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Mineralys Therapeutics by 14,091.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock valued at $124,000 after purchasing an additional 3,241 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Mineralys Therapeutics by 42.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,995 shares of the company’s stock valued at $54,000 after buying an additional 1,197 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in shares of Mineralys Therapeutics during the third quarter worth approximately $216,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Mineralys Therapeutics Stock Performance

Shares of MLYS opened at $35.50 on Wednesday. Mineralys Therapeutics has a 1 year low of $8.24 and a 1 year high of $47.65. The company’s 50 day simple moving average is $39.90 and its 200 day simple moving average is $29.42. The company 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, beating the consensus estimate of ($0.66) by $0.14. Equities analysts expect 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.