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

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) have earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $47.4286.

Several brokerages have recently issued reports on MLYS. HC Wainwright lifted their price objective on Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Stifel Nicolaus lifted their price target on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Thursday, January 22nd. Finally, Wells Fargo & Company raised their price objective on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th.

Mineralys Therapeutics Stock Down 3.7%

Shares of MLYS stock opened at $30.89 on Friday. The firm has a 50 day moving average of $36.13 and a two-hundred day moving average of $32.43. The stock has a market capitalization of $2.44 billion, a PE ratio of -10.47 and a beta of 0.49. Mineralys Therapeutics has a 52 week low of $8.24 and a 52 week high of $47.65.

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

Insider Buying and Selling

In related news, insider David Malcom Rodman sold 11,367 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $32.61, for a total value of $370,677.87. Following the completion of the transaction, the insider directly owned 50,437 shares of the company’s stock, valued at $1,644,750.57. This represents a 18.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian Taylor Slingsby sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $43.35, for a total transaction of $43,350,000.00. Following the completion of the transaction, the director 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 disclosure for this sale is available in the SEC filing. Insiders sold 1,686,955 shares of company stock valued at $71,118,551 over the last 90 days. 25.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its stake in Mineralys Therapeutics by 198.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock worth $40,000 after acquiring an additional 676 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 worth $34,000 after purchasing an additional 850 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Mineralys Therapeutics by 14,091.3% during the third quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock worth $124,000 after purchasing an additional 3,241 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Mineralys Therapeutics by 42.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,995 shares of the company’s stock valued at $54,000 after purchasing an additional 1,197 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in shares of Mineralys Therapeutics in the 3rd quarter valued at about $216,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

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. 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.