Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Receives Average Recommendation of “Hold” from Analysts

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) have been assigned a consensus rating of “Hold” from the eight ratings firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $48.80.

Several equities analysts have weighed in on the company. Zacks Research downgraded Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 13th. Wall Street Zen lowered shares of Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Jefferies Financial Group restated a “hold” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. HC Wainwright reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Friday, July 17th.

Insider Buying and Selling

In related news, CEO Jon Congleton sold 75,000 shares of Mineralys Therapeutics stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $26.14, for a total value of $1,960,500.00. Following the completion of the transaction, the chief executive officer directly owned 614,321 shares in the company, valued at approximately $16,058,350.94. This trade represents a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 7,437 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $25.98, for a total value of $193,213.26. Following the transaction, the insider directly owned 38,400 shares of the company’s stock, valued at $997,632. The trade was a 16.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 205,924 shares of company stock worth $5,364,551 over the last ninety days. Insiders own 18.94% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLYS. Timothy G. Youngquist 2020 Irrevocable Trust acquired a new position in Mineralys Therapeutics in the second quarter valued at $2,721,000. TimesSquare Capital Management LLC purchased a new position in shares of Mineralys Therapeutics during the second quarter worth about $6,363,000. Bank of America Corp DE increased its position in Mineralys Therapeutics by 11.5% in the 1st quarter. Bank of America Corp DE now owns 1,100,372 shares of the company’s stock valued at $29,809,000 after acquiring an additional 113,092 shares during the period. Man Group plc acquired a new position in Mineralys Therapeutics in the 2nd quarter valued at about $1,609,000. Finally, Artia Global Partners LP increased its position in Mineralys Therapeutics by 143.5% in the 4th quarter. Artia Global Partners LP now owns 137,800 shares of the company’s stock valued at $5,001,000 after acquiring an additional 81,200 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Mineralys Therapeutics Price Performance

Shares of NASDAQ MLYS opened at $28.20 on Monday. The company has a quick ratio of 34.46, a current ratio of 34.46 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $27.24 and its two-hundred day moving average is $27.14. Mineralys Therapeutics has a 52-week low of $22.30 and a 52-week high of $47.65. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of -6.65 and a beta of 0.68.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($2.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($2.30). Research analysts predict that Mineralys Therapeutics will post -4.45 EPS for the current year.

Mineralys Therapeutics Company Profile

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cardiovascular and kidney-related diseases. The company’s research is centered on conditions associated with excess aldosterone activity, including uncontrolled and resistant hypertension.

Mineralys’ lead investigational product is lorundrostat, also known as MLS-101, an oral, highly selective aldosterone synthase inhibitor. The company is evaluating lorundrostat in clinical studies as a potential treatment for patients whose blood pressure remains inadequately controlled despite existing therapy.