Mineralys Therapeutics (NASDAQ:MLYS) Stock Price Up 5.6% – Should You Buy?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) rose 5.6% on Tuesday . The company traded as high as $14.15 and last traded at $14.21. Approximately 730,506 shares traded hands during trading, an increase of 42% from the average daily volume of 513,387 shares. The stock had previously closed at $13.45.

Analyst Upgrades and Downgrades

MLYS has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and set a $42.00 price target on shares of Mineralys Therapeutics in a research report on Tuesday. Wall Street Zen cut shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Jefferies Financial Group initiated coverage on shares of Mineralys Therapeutics in a research report on Tuesday, June 10th. They issued a “hold” rating and a $15.00 price objective on the stock. Finally, Guggenheim set a $48.00 price objective on shares of Mineralys Therapeutics and gave the company a “buy” rating in a research report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.25.

Mineralys Therapeutics Trading Up 3.7%

The firm has a market cap of $909.19 million, a price-to-earnings ratio of -3.82 and a beta of -0.17. The stock’s 50 day moving average is $14.77 and its 200 day moving average is $12.85.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.79) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.23. On average, equities research analysts predict that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 55,771 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $15.76, for a total transaction of $878,950.96. Following the transaction, the insider now owns 116,704 shares in the company, valued at $1,839,255.04. This represents a 32.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jon Congleton sold 15,319 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $12.19, for a total transaction of $186,738.61. Following the transaction, the chief executive officer now owns 862,289 shares in the company, valued at approximately $10,511,302.91. The trade was a 1.75% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,579 shares of company stock worth $1,534,353. Insiders own 25.56% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. lifted its holdings in shares of Mineralys Therapeutics by 297.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company’s stock worth $25,000 after acquiring an additional 1,190 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Mineralys Therapeutics during the 4th quarter worth approximately $48,000. Quarry LP bought a new stake in shares of Mineralys Therapeutics during the 1st quarter worth approximately $111,000. ProShare Advisors LLC bought a new stake in shares of Mineralys Therapeutics during the 4th quarter worth approximately $128,000. Finally, CWM LLC lifted its holdings in shares of Mineralys Therapeutics by 59.3% during the 1st quarter. CWM LLC now owns 8,342 shares of the company’s stock worth $132,000 after acquiring an additional 3,105 shares during the period. Institutional investors and hedge funds 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.