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

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $47.4286.

A number of analysts recently commented on the company. HC Wainwright increased their price target on Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Stifel Nicolaus upped their price objective 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 note on Thursday. Finally, Wells Fargo & Company boosted their price target on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th.

Mineralys Therapeutics Price Performance

MLYS opened at $32.76 on Friday. Mineralys Therapeutics has a fifty-two week low of $8.24 and a fifty-two week high of $47.65. The firm has a market capitalization of $2.59 billion, a P/E ratio of -11.11 and a beta of 0.49. The company’s 50-day moving average is $37.18 and its 200 day moving average is $31.81.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.14. On average, equities research analysts expect that Mineralys Therapeutics will post -4.23 earnings per share for the current year.

Insiders Place Their Bets

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,758 shares of the business’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $32.14, for a total value of $345,762.12. Following the transaction, the chief financial officer directly owned 8,638 shares in the company, valued at $277,625.32. The trade was a 55.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Taylor Slingsby sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $43.35, for a total transaction 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 represents a 11.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,686,955 shares of company stock valued at $71,118,551. Company insiders own 25.56% of the company’s stock.

Institutional Trading of Mineralys Therapeutics

Large investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its stake in shares of Mineralys Therapeutics by 198.2% in the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock valued at $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% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock worth $34,000 after acquiring an additional 850 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Mineralys Therapeutics by 14,091.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock worth $124,000 after acquiring an additional 3,241 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Mineralys Therapeutics by 42.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,995 shares of the company’s stock valued at $54,000 after acquiring an additional 1,197 shares during the period. Finally, Victory Capital Management Inc. purchased a new stake in Mineralys Therapeutics during the third quarter valued at about $216,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.