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

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) have been given an average recommendation of “Moderate Buy” by the eight analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $49.3333.

Several research firms have recently weighed in on MLYS. Wall Street Zen downgraded Mineralys Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. TD Cowen began coverage on Mineralys Therapeutics in a report on Monday, April 27th. They issued a “buy” rating for the company. Bank of America boosted their target price on Mineralys Therapeutics from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, March 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st.

Mineralys Therapeutics Price Performance

Shares of NASDAQ MLYS opened at $25.61 on Wednesday. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -12.49 and a beta of 0.57. The business has a 50-day moving average of $27.45 and a two-hundred day moving average of $29.69. Mineralys Therapeutics has a 1 year low of $12.59 and a 1 year high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.04. As a group, equities research analysts expect that Mineralys Therapeutics will post -2.3 earnings per share for the current year.

Insider Activity

In other news, Director Daphne Karydas sold 3,000 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $25.00, for a total value of $75,000.00. Following the completion of the sale, the director directly owned 6,200 shares of the company’s stock, valued at approximately $155,000. The trade was a 32.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Malcom Rodman sold 4,584 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $25.00, for a total value of $114,600.00. Following the completion of the sale, the insider directly owned 57,095 shares of the company’s stock, valued at $1,427,375. The trade was a 7.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 165,707 shares of company stock valued at $4,383,768. Insiders own 18.94% of the company’s stock.

Institutional Trading of Mineralys Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Seven Fleet Capital Management LP lifted its holdings in shares of Mineralys Therapeutics by 65.5% in the 1st quarter. Seven Fleet Capital Management LP now owns 69,571 shares of the company’s stock valued at $1,885,000 after purchasing an additional 27,546 shares during the last quarter. Bank of America Corp DE raised its stake in Mineralys Therapeutics by 11.5% during the 1st quarter. Bank of America Corp DE now owns 1,100,372 shares of the company’s stock valued at $29,809,000 after acquiring an additional 113,092 shares during the last quarter. Stempoint Capital LP raised its stake in Mineralys Therapeutics by 83.9% during the 1st quarter. Stempoint Capital LP now owns 533,378 shares of the company’s stock valued at $14,449,000 after acquiring an additional 243,329 shares during the last quarter. ADAR1 Capital Management LLC raised its stake in Mineralys Therapeutics by 13.5% during the 1st quarter. ADAR1 Capital Management LLC now owns 154,686 shares of the company’s stock valued at $4,190,000 after acquiring an additional 18,455 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in Mineralys Therapeutics by 41.3% during the 1st quarter. California State Teachers Retirement System now owns 61,266 shares of the company’s stock valued at $1,660,000 after acquiring an additional 17,918 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other 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.