Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Receives $46.67 Average PT from Brokerages

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) have earned an average rating of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. One equities research 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 12 month price objective among brokers that have updated their coverage on the stock in the last year is $46.6667.

MLYS has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Wednesday, October 8th. Bank of America raised their price target on Mineralys Therapeutics from $38.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 28th. The Goldman Sachs Group lifted their price objective on shares of Mineralys Therapeutics from $32.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, September 9th. HC Wainwright increased their target price on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Finally, Wall Street Zen upgraded shares of Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd.

Insider Activity

In other Mineralys Therapeutics news, Director Brian Taylor Slingsby sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $43.35, for a total value of $43,350,000.00. Following the completion of the sale, the director directly owned 7,903,838 shares in the company, valued at $342,631,377.30. This represents a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jon Congleton sold 200,000 shares of Mineralys Therapeutics stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $45.44, for a total value of $9,088,000.00. Following the transaction, the chief executive officer owned 631,305 shares in the company, valued at approximately $28,686,499.20. This trade represents a 24.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,416,793 shares of company stock valued at $62,019,643 over the last 90 days. Corporate insiders own 33.24% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Mineralys Therapeutics by 51.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock valued at $34,000 after buying an additional 850 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Mineralys Therapeutics by 198.2% during the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock valued at $40,000 after acquiring an additional 676 shares during the period. Ameritas Investment Partners Inc. boosted its stake in Mineralys Therapeutics by 42.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,995 shares of the company’s stock worth $54,000 after purchasing an additional 1,197 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Mineralys Therapeutics in the 2nd quarter worth approximately $91,000. Finally, Quarry LP purchased a new position in Mineralys Therapeutics during the 1st quarter worth approximately $111,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Mineralys Therapeutics Stock Down 0.8%

Mineralys Therapeutics stock opened at $38.20 on Friday. Mineralys Therapeutics has a 52-week low of $8.24 and a 52-week high of $47.65. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of -12.95 and a beta of 0.40. The firm has a 50-day moving average price of $41.22 and a two-hundred day moving average price of $27.04.

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