Mineralys Therapeutics’ (MLYS) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Mineralys Therapeutics (NASDAQ:MLYS) in a research note released on Monday, MarketBeat Ratings reports. HC Wainwright currently has a $56.00 target price on the stock.

Other equities research analysts have also issued reports about the company. Wall Street Zen lowered Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. UBS Group initiated coverage on Mineralys Therapeutics in a report on Sunday. They set a “neutral” rating and a $29.00 price target for the company. Zacks Research upgraded Mineralys Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, September 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $45.50.

Mineralys Therapeutics Price Performance

NASDAQ:MLYS opened at $20.76 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 firm has a market cap of $1.84 billion, a PE ratio of -4.90 and a beta of 0.69. Mineralys Therapeutics has a 12 month low of $20.41 and a 12 month high of $47.65. The company’s 50-day moving average price is $26.20 and its two-hundred day moving average price is $26.90.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($2.85) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($2.30). On average, equities analysts anticipate that Mineralys Therapeutics will post -4.45 EPS for the current fiscal year.

Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, Director Daphne Karydas sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $28.58, for a total value of $85,740.00. Following the completion of the sale, the director owned 6,200 shares in the company, valued at approximately $177,196. This trade represents a 32.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 7,438 shares of the business’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $26.87, for a total transaction of $199,859.06. Following the completion of the transaction, the insider directly owned 38,400 shares of the company’s stock, valued at approximately $1,031,808. This represents a 16.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 206,803 shares of company stock worth $5,661,713 over the last quarter. Corporate insiders own 18.94% of the company’s stock.

Institutional Trading of Mineralys Therapeutics

Hedge funds have recently modified their holdings of the stock. BlueCrest Capital Management Ltd acquired a new position in Mineralys Therapeutics during the 2nd quarter worth $2,298,000. WINTON GROUP Ltd bought a new position in Mineralys Therapeutics in the 2nd quarter valued at $912,000. Arizona State Retirement System boosted its position in Mineralys Therapeutics by 22.4% in the 2nd quarter. Arizona State Retirement System now owns 15,357 shares of the company’s stock valued at $414,000 after buying an additional 2,815 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Mineralys Therapeutics in the 2nd quarter valued at $333,000. Finally, Pale Fire Capital SE increased its stake in shares of Mineralys Therapeutics by 68.0% in the 2nd quarter. Pale Fire Capital SE now owns 614,284 shares of the company’s stock valued at $16,573,000 after buying an additional 248,658 shares during the period. 84.46% of the stock is owned by institutional investors.

Mineralys Therapeutics Company Profile

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for hypertension and other cardiovascular and kidney-related conditions associated with excess aldosterone activity. The company is headquartered in Radnor, Pennsylvania.

Mineralys’ lead product candidate is lorundrostat, an oral, highly selective aldosterone synthase inhibitor designed to reduce the production of aldosterone. The company is evaluating lorundrostat as a potential treatment for uncontrolled or resistant hypertension, including hypertension linked to abnormal activation of the renin-angiotensin-aldosterone system.

Mineralys was established to advance therapies targeting aldosterone-driven disease and became a publicly traded company on the Nasdaq exchange in 2023.