HC Wainwright Reaffirms “Buy” Rating for Mineralys Therapeutics (NASDAQ:MLYS)

Mineralys Therapeutics (NASDAQ:MLYS)‘s stock had its “buy” rating reiterated by HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $30.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 70.49% from the company’s current price.

Several other analysts also recently weighed in on MLYS. The Goldman Sachs Group decreased their price target on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Guggenheim reiterated a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, February 24th.

Mineralys Therapeutics Trading Up 67.3 %

NASDAQ MLYS traded up $7.08 on Monday, reaching $17.60. 11,311,328 shares of the stock were exchanged, compared to its average volume of 551,332. Mineralys Therapeutics has a one year low of $8.24 and a one year high of $18.19. The company’s 50-day simple moving average is $10.26 and its two-hundred day simple moving average is $11.86. The firm has a market capitalization of $876.91 million, a PE ratio of -4.80 and a beta of 1.50.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02. Sell-side analysts forecast that Mineralys Therapeutics will post -4.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Mineralys Therapeutics

In other news, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction on Monday, January 13th. The shares were sold at an average price of $9.10, for a total transaction of $97,888.70. Following the completion of the sale, the chief financial officer now directly owns 226,097 shares of the company’s stock, valued at approximately $2,057,482.70. The trade was a 4.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jon Congleton sold 18,333 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $9.06, for a total transaction of $166,096.98. Following the completion of the transaction, the chief executive officer now owns 877,608 shares of the company’s stock, valued at $7,951,128.48. This represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 33.24% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Polar Asset Management Partners Inc. purchased a new position in Mineralys Therapeutics in the 3rd quarter valued at about $490,000. Jennison Associates LLC grew its stake in shares of Mineralys Therapeutics by 55.4% in the fourth quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock valued at $13,319,000 after buying an additional 385,726 shares in the last quarter. Barclays PLC raised its stake in shares of Mineralys Therapeutics by 281.8% during the third quarter. Barclays PLC now owns 38,218 shares of the company’s stock valued at $463,000 after purchasing an additional 28,208 shares during the period. Wellington Management Group LLP purchased a new position in Mineralys Therapeutics in the 3rd quarter valued at about $775,000. Finally, State Street Corp increased its holdings in Mineralys Therapeutics by 4.0% during the 3rd quarter. State Street Corp now owns 483,766 shares of the company’s stock worth $5,858,000 after purchasing an additional 18,627 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

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.