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

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are presently covering the stock, MarketBeat.com reports. One 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 12 month target price among brokers that have issued ratings on the stock in the last year is $49.3333.

A number of research firms have recently commented on MLYS. Bank of America boosted their price objective on Mineralys Therapeutics from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Wall Street Zen cut shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Jefferies Financial Group restated a “hold” rating and set a $30.00 price objective on shares of Mineralys Therapeutics in a research report on Friday, March 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. Finally, TD Cowen began coverage on shares of Mineralys Therapeutics in a research report on Monday, April 27th. They set a “buy” rating for the company.

Insider Activity at Mineralys Therapeutics

In related news, Director Daphne Karydas sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $25.00, for a total value of $75,000.00. Following the transaction, the director directly owned 6,200 shares of the company’s stock, valued at approximately $155,000. This trade represents a 32.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ra Capital Management, L.P. purchased 310,700 shares of the stock in a transaction dated Friday, March 27th. The stock was purchased at an average cost of $23.67 per share, for a total transaction of $7,354,269.00. Following the completion of the purchase, the director directly owned 5,767,221 shares of the company’s stock, valued at approximately $136,510,121.07. The trade was a 5.69% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders sold 162,291 shares of company stock valued at $4,353,683. 18.94% of the stock is owned by corporate insiders.

Institutional Trading of Mineralys Therapeutics

A number of institutional investors have recently made changes to their positions in MLYS. State Street Corp boosted its stake in shares of Mineralys Therapeutics by 144.4% in the fourth quarter. State Street Corp now owns 3,184,999 shares of the company’s stock worth $115,584,000 after acquiring an additional 1,881,976 shares during the last quarter. Farallon Capital Management LLC purchased a new stake in shares of Mineralys Therapeutics during the third quarter worth $63,442,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Mineralys Therapeutics by 6,097.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,325,120 shares of the company’s stock worth $48,089,000 after buying an additional 1,303,737 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of Mineralys Therapeutics during the third quarter worth $45,708,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Mineralys Therapeutics by 6,012.8% during the fourth quarter. Janus Henderson Group PLC now owns 1,213,265 shares of the company’s stock worth $44,005,000 after buying an additional 1,193,417 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Mineralys Therapeutics Stock Down 0.1%

NASDAQ:MLYS opened at $31.50 on Friday. Mineralys Therapeutics has a 52 week low of $12.59 and a 52 week high of $47.65. The stock has a market capitalization of $2.60 billion, a PE ratio of -15.37 and a beta of 0.49. The stock’s 50-day moving average price is $27.65 and its 200-day moving average price is $31.91.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Wednesday, May 6th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.04. Sell-side analysts expect that Mineralys Therapeutics will post -2.3 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.