Mineralys Therapeutics (NASDAQ:MLYS) Rating Lowered to Sell at Wall Street Zen

Mineralys Therapeutics (NASDAQ:MLYS) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other research analysts have also commented on MLYS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Thursday, January 22nd. Stifel Nicolaus raised their price objective on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Wells Fargo & Company boosted their price objective on Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Finally, HC Wainwright upped their target price on Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.43.

Mineralys Therapeutics Price Performance

Shares of MLYS opened at $26.59 on Friday. The company’s 50-day moving average is $31.33 and its 200-day moving average is $34.93. The firm has a market capitalization of $2.10 billion, a PE ratio of -9.01 and a beta of 0.57. Mineralys Therapeutics has a fifty-two week low of $10.19 and a fifty-two week high of $47.65.

Insider Buying and Selling

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 192,715 shares of Mineralys Therapeutics stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $35.02, for a total value of $6,748,879.30. Following the completion of the sale, the insider owned 61,804 shares in the company, valued at $2,164,376.08. The trade was a 75.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $345,762.12. Following the completion of the sale, the chief financial officer directly owned 8,638 shares of the company’s stock, valued at $277,625.32. This represents a 55.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 340,748 shares of company stock valued at $11,697,169. 25.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

Institutional investors have recently made changes to their positions in the stock. Navalign LLC acquired a new stake in Mineralys Therapeutics during the fourth quarter worth approximately $33,000. 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 acquiring an additional 676 shares during the period. Ameritas Investment Partners Inc. raised its holdings 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 in the last quarter. Royal Bank of Canada raised its holdings in Mineralys Therapeutics by 262.3% in the 4th quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock valued at $56,000 after acquiring an additional 1,107 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Mineralys Therapeutics by 1,845.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock valued at $76,000 after acquiring an additional 1,993 shares during the period. 84.46% of the stock is currently owned by institutional investors.

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.