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

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) has been assigned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $46.6667.

A number of research analysts have recently weighed in on the stock. The Goldman Sachs Group increased their target price 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. Wall Street Zen upgraded Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 22nd. Wells Fargo & Company increased their price objective on Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. Bank of America boosted their target price on Mineralys Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Wednesday, October 8th.

Insider Activity

In other Mineralys Therapeutics news, Director Ra Capital Management, L.P. acquired 1,176,470 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was bought at an average cost of $25.50 per share, with a total value of $29,999,985.00. Following the acquisition, the director 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 purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Srinivas Akkaraju acquired 588,235 shares of Mineralys Therapeutics stock in a transaction that occurred on Thursday, September 4th. The stock was acquired at an average price of $25.50 per share, with a total value of $14,999,992.50. Following the completion of the purchase, the director directly owned 588,235 shares in the company, valued at $14,999,992.50. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have sold 416,793 shares of company stock valued at $18,669,643. 25.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

Several hedge funds have recently made changes to their positions in MLYS. RA Capital Management L.P. lifted its holdings in Mineralys Therapeutics by 26.7% during the 1st quarter. RA Capital Management L.P. now owns 6,147,280 shares of the company’s stock worth $97,619,000 after purchasing an additional 1,296,296 shares in the last quarter. SR One Capital Management LP grew its holdings in Mineralys Therapeutics by 55.1% during the 1st quarter. SR One Capital Management LP now owns 3,127,933 shares of the company’s stock valued at $49,672,000 after buying an additional 1,111,111 shares in the last quarter. Jennison Associates LLC increased its position in shares of Mineralys Therapeutics by 82.9% during the first quarter. Jennison Associates LLC now owns 1,979,033 shares of the company’s stock valued at $31,427,000 after buying an additional 897,027 shares during the period. Orbimed Advisors LLC purchased a new stake in shares of Mineralys Therapeutics in the second quarter worth about $10,288,000. Finally, Stempoint Capital LP boosted its position in shares of Mineralys Therapeutics by 605.3% in the second quarter. Stempoint Capital LP now owns 631,586 shares of the company’s stock valued at $8,551,000 after acquiring an additional 756,586 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Mineralys Therapeutics Price Performance

NASDAQ MLYS opened at $40.85 on Tuesday. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of -13.85 and a beta of 0.40. Mineralys Therapeutics has a one year low of $8.24 and a one year high of $47.65. The business’s fifty day moving average is $40.17 and its 200-day moving average is $24.04.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.14. Research analysts expect that Mineralys Therapeutics will post -4.23 EPS for the current fiscal year.

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.