Analysts Set Mineralys Therapeutics, Inc. (NASDAQ:MLYS) PT at $47.43

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) have received an average rating of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $47.4286.

Several research analysts recently weighed in on MLYS shares. Wells Fargo & Company upped their target price on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Thursday, January 22nd. HC Wainwright raised their target price on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Finally, Stifel Nicolaus boosted their price target on Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a report on Friday, December 19th.

Insider Transactions at Mineralys Therapeutics

In other news, Director Alexander M. Gold sold 15,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $43.98, for a total transaction of $659,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Adam Scott Levy sold 119,524 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $44.88, for a total transaction of $5,364,237.12. Following the transaction, the chief financial officer owned 19,396 shares in the company, valued at approximately $870,492.48. The trade was a 86.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,686,955 shares of company stock valued at $71,118,551. Corporate insiders own 25.56% of the company’s stock.

Hedge Funds Weigh In On Mineralys Therapeutics

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC purchased a new stake in shares of Mineralys Therapeutics during the 1st quarter valued at $550,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Mineralys Therapeutics by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock valued at $271,000 after acquiring an additional 702 shares during the period. Goldman Sachs Group Inc. increased its stake in Mineralys Therapeutics by 166.6% during the first quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company’s stock worth $4,739,000 after acquiring an additional 186,480 shares during the last quarter. Woodline Partners LP acquired a new position in shares of Mineralys Therapeutics in the 1st quarter valued at about $757,000. Finally, Voya Investment Management LLC purchased a new stake in shares of Mineralys Therapeutics during the 1st quarter worth about $255,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Mineralys Therapeutics Stock Performance

Shares of NASDAQ:MLYS opened at $32.09 on Friday. The business’s fifty day moving average price is $36.35 and its two-hundred day moving average price is $32.19. The stock has a market cap of $2.54 billion, a PE ratio of -10.88 and a beta of 0.49. Mineralys Therapeutics has a one year low of $8.24 and a one year high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.14. As a group, equities research analysts predict that Mineralys Therapeutics will post -4.23 earnings per share for the current fiscal year.

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.