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

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $49.3333.

MLYS has been the topic of a number of analyst reports. TD Cowen assumed coverage on shares of Mineralys Therapeutics in a research report on Monday, April 27th. They set a “buy” rating on the stock. HC Wainwright reissued a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. Jefferies Financial Group restated a “hold” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Finally, Wall Street Zen downgraded Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th.

Mineralys Therapeutics Price Performance

Shares of NASDAQ MLYS opened at $27.09 on Friday. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -13.21 and a beta of 0.66. Mineralys Therapeutics has a fifty-two week low of $12.59 and a fifty-two week high of $47.65. The business has a 50-day moving average of $27.16 and a 200-day moving average of $28.56.

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

Insider Buying and Selling at Mineralys Therapeutics

In other news, Director Daphne Karydas sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $25.00, for a total transaction of $75,000.00. Following the completion of the transaction, the director owned 6,200 shares of the company’s stock, valued at approximately $155,000. This trade represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Malcom Rodman sold 2,171 shares of Mineralys Therapeutics stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $30.30, for a total transaction of $65,781.30. Following the transaction, the insider owned 57,733 shares in the company, valued at approximately $1,749,309.90. This trade represents a 3.62% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 230,280 shares of company stock valued at $6,018,442. 18.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MLYS. Handelsbanken Fonder AB raised its position in Mineralys Therapeutics by 92.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 27,200 shares of the company’s stock worth $734,000 after purchasing an additional 13,100 shares during the last quarter. FNY Investment Advisers LLC grew its position in shares of Mineralys Therapeutics by 400.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company’s stock valued at $67,000 after buying an additional 2,000 shares during the last quarter. Seven Fleet Capital Management LP grew its position 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 buying an additional 27,546 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Mineralys Therapeutics by 11.5% in the first quarter. Bank of America Corp DE now owns 1,100,372 shares of the company’s stock valued at $29,809,000 after buying an additional 113,092 shares during the period. Finally, Stempoint Capital LP increased its stake in shares of Mineralys Therapeutics by 83.9% in the first quarter. Stempoint Capital LP now owns 533,378 shares of the company’s stock valued at $14,449,000 after buying an additional 243,329 shares during the period. 84.46% of the stock is owned by institutional investors.

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. 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.