Mineralys Therapeutics (NASDAQ:MLYS) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Mineralys Therapeutics (NASDAQ:MLYS) from a hold rating to a sell rating in a research note published on Saturday morning.

Several other equities research analysts have also issued reports on MLYS. Wells Fargo & Company lifted their price objective on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Stifel Nicolaus increased their target price on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. HC Wainwright raised their target price on Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.43.

Mineralys Therapeutics Stock Up 2.4%

MLYS stock opened at $27.24 on Friday. The firm has a 50 day moving average of $31.14 and a two-hundred day moving average of $35.30. Mineralys Therapeutics has a 12 month low of $10.44 and a 12 month high of $47.65. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of -9.23 and a beta of 0.57.

Insider Transactions at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 16,236 shares of the company’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $32.62, for a total transaction of $529,618.32. Following the completion of the sale, the chief executive officer directly owned 639,151 shares of the company’s stock, valued at approximately $20,849,105.62. This represents a 2.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Adam Scott Levy sold 10,758 shares of the firm’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $32.14, for a total transaction of $345,762.12. Following the completion of the transaction, the chief financial officer owned 8,638 shares in the company, valued at $277,625.32. The trade was a 55.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 340,748 shares of company stock worth $11,697,169. 33.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC bought a new position in shares of Mineralys Therapeutics in the first quarter worth about $550,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Mineralys Therapeutics by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock valued at $271,000 after purchasing an additional 702 shares during the period. Goldman Sachs Group Inc. grew its holdings in Mineralys Therapeutics by 166.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company’s stock valued at $4,739,000 after buying an additional 186,480 shares during the last quarter. Woodline Partners LP acquired a new stake in Mineralys Therapeutics in the 1st quarter valued at approximately $757,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Mineralys Therapeutics in the 2nd quarter worth approximately $288,000. 84.46% of the stock is owned by institutional investors and hedge funds.

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. 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.