Brokerages Set Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Price Target at $49.14

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) have earned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $49.1429.

Several brokerages have commented on MLYS. Jefferies Financial Group restated a “hold” rating and set a $30.00 price objective on shares of Mineralys Therapeutics in a research note on Friday, March 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Thursday, January 22nd. HC Wainwright set a $56.00 target price on shares of Mineralys Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, March 10th. 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. Finally, Wall Street Zen raised shares of Mineralys Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, March 15th.

Insider Buying and Selling

In other news, insider David Malcom Rodman sold 192,715 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $35.02, for a total transaction of $6,748,879.30. Following the completion of the sale, the insider owned 61,804 shares in the company, valued at approximately $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 can be accessed through this link. Also, CEO Jon Congleton sold 16,236 shares of the firm’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $32.62, for a total value of $529,618.32. Following the sale, the chief executive officer owned 639,151 shares in the company, valued at approximately $20,849,105.62. The trade was a 2.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 363,325 shares of company stock valued at $12,298,347. Insiders own 25.56% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Navalign LLC bought a new stake in Mineralys Therapeutics during the fourth quarter valued at about $33,000. Smartleaf Asset Management LLC grew its stake in shares of Mineralys Therapeutics by 198.2% during the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock worth $40,000 after purchasing an additional 676 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of 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. Royal Bank of Canada increased its stake in Mineralys Therapeutics by 262.3% in the fourth quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock valued at $56,000 after purchasing an additional 1,107 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in 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 worth $76,000 after purchasing an additional 1,993 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Mineralys Therapeutics Stock Performance

NASDAQ:MLYS opened at $24.07 on Monday. Mineralys Therapeutics has a 52-week low of $10.44 and a 52-week high of $47.65. The firm has a market capitalization of $1.98 billion, a PE ratio of -10.16 and a beta of 0.57. The stock has a 50-day simple moving average of $29.43 and a two-hundred day simple moving average of $35.68.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.17. Equities analysts forecast that Mineralys Therapeutics will post -4.23 earnings per share 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.