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

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) have earned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $49.1429.

Several equities research analysts recently issued reports on MLYS shares. Bank of America upped their price target on Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Wall Street Zen upgraded Mineralys Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 price target on shares of Mineralys Therapeutics in a report on Friday, March 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. Finally, HC Wainwright set a $56.00 price target on Mineralys Therapeutics and gave the stock a “buy” rating in a report on Tuesday, March 10th.

Insiders Place Their Bets

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 14,058 shares of the business’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $26.54, for a total value of $373,099.32. Following the transaction, the insider owned 76,140 shares of the company’s stock, valued at approximately $2,020,755.60. The trade was a 15.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daphne Karydas sold 3,000 shares of the business’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $25.00, for a total value of $75,000.00. Following the completion of the transaction, the director directly owned 6,200 shares in the company, valued at approximately $155,000. This represents a 32.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 162,291 shares of company stock worth $4,336,414 in the last ninety days. Company insiders own 18.94% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Candriam S.C.A. boosted its position in Mineralys Therapeutics by 18.2% in the first quarter. Candriam S.C.A. now owns 801,904 shares of the company’s stock worth $21,724,000 after purchasing an additional 123,517 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in Mineralys Therapeutics by 321.2% in the first quarter. Y Intercept Hong Kong Ltd now owns 132,099 shares of the company’s stock worth $3,579,000 after purchasing an additional 100,740 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in Mineralys Therapeutics by 21.3% in the first quarter. Pictet Asset Management Holding SA now owns 1,034,438 shares of the company’s stock worth $28,023,000 after purchasing an additional 181,555 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Mineralys Therapeutics by 3,439.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,823 shares of the company’s stock worth $139,000 after purchasing an additional 3,715 shares during the last quarter. Finally, Seven Fleet Capital Management LP purchased a new position in Mineralys Therapeutics in the fourth quarter worth $553,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Trading Up 1.3%

Shares of Mineralys Therapeutics stock opened at $29.65 on Tuesday. The stock has a fifty day simple moving average of $27.11 and a 200 day simple moving average of $33.43. Mineralys Therapeutics has a 12-month low of $12.59 and a 12-month high of $47.65. The company has a market capitalization of $2.44 billion, a P/E ratio of -12.51 and a beta of 0.49.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.17. On average, analysts predict that Mineralys Therapeutics will post -2.23 EPS 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. 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.