Wall Street Zen Upgrades Mineralys Therapeutics (NASDAQ:MLYS) to Hold

Mineralys Therapeutics (NASDAQ:MLYS) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

A number of other equities analysts also recently weighed in on the company. HC Wainwright set a $56.00 target price on Mineralys Therapeutics and gave the company a “buy” rating in a report on Tuesday, March 10th. Stifel Nicolaus boosted their price objective on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Bank of America upped their price objective on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday. Jefferies Financial Group reissued a “hold” rating and set a $30.00 target price on shares of Mineralys Therapeutics in a research note on Friday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.14.

Mineralys Therapeutics Trading Down 1.8%

NASDAQ MLYS opened at $25.73 on Friday. Mineralys Therapeutics has a 1 year low of $10.44 and a 1 year high of $47.65. The stock’s 50-day moving average price is $30.25 and its two-hundred day moving average price is $35.73. The company has a market cap of $2.12 billion, a PE ratio of -10.86 and a beta of 0.57.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.17. Research analysts forecast that Mineralys Therapeutics will post -4.23 EPS for the current fiscal year.

Insider Activity

In other news, insider David Malcom Rodman sold 192,715 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $35.02, for a total value of $6,748,879.30. Following the completion of the sale, the insider directly owned 61,804 shares in the company, valued at approximately $2,164,376.08. The trade was a 75.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jon Congleton sold 16,236 shares of Mineralys Therapeutics stock in a transaction on Monday, January 12th. The stock was sold at an average price of $32.62, for a total transaction of $529,618.32. Following the completion of the transaction, the chief executive officer owned 639,151 shares in the company, valued at $20,849,105.62. This trade represents a 2.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 363,325 shares of company stock valued at $12,298,347 over the last 90 days. 33.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

Hedge funds have recently modified their holdings of the business. Navalign LLC bought a new stake in Mineralys Therapeutics in the 4th quarter valued at $33,000. Smartleaf Asset Management LLC grew its stake in shares of Mineralys Therapeutics by 198.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock valued at $40,000 after purchasing an additional 676 shares during the period. Royal Bank of Canada grew its position in Mineralys Therapeutics by 262.3% in the fourth quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock valued at $56,000 after acquiring an additional 1,107 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Mineralys Therapeutics by 1,845.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock valued at $76,000 after purchasing an additional 1,993 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Mineralys Therapeutics by 14,091.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock valued at $124,000 after purchasing an additional 3,241 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

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.