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

HC Wainwright reissued their buy rating on shares of Mineralys Therapeutics (NASDAQ:MLYS) in a report published on Monday morning,Benzinga reports. The firm currently has a $30.00 price target on the stock.

MLYS has been the topic of a number of other research reports. The Goldman Sachs Group lowered their target price on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Guggenheim restated a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th.

Mineralys Therapeutics Trading Down 8.3 %

MLYS opened at $13.11 on Monday. The stock has a market capitalization of $653.35 million, a P/E ratio of -3.60 and a beta of 1.50. Mineralys Therapeutics has a 12 month low of $8.24 and a 12 month high of $18.29. The firm’s fifty day simple moving average is $10.37 and its 200 day simple moving average is $11.91.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02. On average, equities research analysts predict that Mineralys Therapeutics will post -4.23 EPS for the current fiscal year.

Insider Activity

In other news, CFO Adam Scott Levy sold 10,757 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $9.10, for a total value of $97,888.70. Following the transaction, the chief financial officer now owns 226,097 shares of the company’s stock, valued at approximately $2,057,482.70. This represents a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jon Congleton sold 18,333 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $9.06, for a total value of $166,096.98. Following the completion of the transaction, the chief executive officer now directly owns 877,608 shares in the company, valued at approximately $7,951,128.48. This represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 33.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of MLYS. BNP Paribas Financial Markets acquired a new stake in shares of Mineralys Therapeutics in the fourth quarter valued at approximately $48,000. ProShare Advisors LLC acquired a new position in Mineralys Therapeutics in the 4th quarter valued at $128,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Mineralys Therapeutics by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company’s stock valued at $130,000 after acquiring an additional 989 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in shares of Mineralys Therapeutics during the 4th quarter valued at $145,000. Finally, PDT Partners LLC acquired a new stake in shares of Mineralys Therapeutics during the 3rd quarter worth $148,000. 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.