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

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $43.50.

Several research analysts have weighed in on MLYS shares. Wall Street Zen upgraded Mineralys Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 22nd. Wells Fargo & Company lifted their price target on shares of Mineralys Therapeutics from $26.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. HC Wainwright reaffirmed a “buy” rating and issued a $42.00 price target on shares of Mineralys Therapeutics in a research note on Monday, September 8th. Bank of America boosted their price objective on shares of Mineralys Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Finally, The Goldman Sachs Group boosted their price objective on shares of Mineralys Therapeutics from $32.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th.

Insider Transactions at Mineralys Therapeutics

In other Mineralys Therapeutics news, Director Srinivas Akkaraju acquired 588,235 shares of the business’s stock in a transaction dated Thursday, September 4th. The shares were acquired at an average price of $25.50 per share, with a total value of $14,999,992.50. Following the completion of the transaction, the director directly owned 588,235 shares in the company, valued at $14,999,992.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ra Capital Management, L.P. purchased 1,176,470 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were acquired at an average cost of $25.50 per share, for a total transaction of $29,999,985.00. Following the completion of the transaction, the director directly owned 5,456,521 shares in the company, valued at approximately $139,141,285.50. This represents a 27.49% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 132,637 shares of company stock worth $3,175,946. Corporate insiders own 25.56% of the company’s stock.

Institutional Trading of Mineralys Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of MLYS. GAMMA Investing LLC raised its holdings in Mineralys Therapeutics by 9,602.2% during the first quarter. GAMMA Investing LLC now owns 8,829 shares of the company’s stock worth $140,000 after acquiring an additional 8,738 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Mineralys Therapeutics by 3.9% during the 1st quarter. Bank of New York Mellon Corp now owns 67,868 shares of the company’s stock worth $1,078,000 after purchasing an additional 2,550 shares in the last quarter. CWM LLC raised its stake 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 purchasing an additional 3,105 shares in the last quarter. SBI Securities Co. Ltd. raised its stake 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 purchasing an additional 1,190 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Mineralys Therapeutics by 82.9% during the first quarter. Jennison Associates LLC now owns 1,979,033 shares of the company’s stock worth $31,427,000 after acquiring an additional 897,027 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Trading Down 0.9%

Shares of MLYS opened at $42.97 on Friday. Mineralys Therapeutics has a 1 year low of $8.24 and a 1 year high of $44.80. The stock has a market cap of $2.85 billion, a P/E ratio of -12.07 and a beta of 0.40. The stock’s 50-day moving average price is $30.15 and its two-hundred day moving average price is $19.76.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.12. As a group, equities analysts forecast that Mineralys Therapeutics will post -4.23 EPS for the current 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.