Brokerages Set Mineralys Therapeutics, Inc. (NASDAQ:MLYS) PT at $49.14

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) have earned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $49.1429.

A number of equities analysts have recently issued reports on MLYS shares. Wall Street Zen downgraded Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Jefferies Financial Group reissued a “hold” rating and set a $30.00 price target on shares of Mineralys Therapeutics in a research report on Friday, March 13th. TD Cowen started coverage on Mineralys Therapeutics in a research report on Monday, April 27th. They set a “buy” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research 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 research report on Tuesday, March 10th.

Insider Buying and Selling

In related news, Director Ra Capital Management, L.P. purchased 310,700 shares of Mineralys Therapeutics stock in a transaction dated Friday, March 27th. The stock was purchased at an average cost of $23.67 per share, with a total value of $7,354,269.00. Following the transaction, the director owned 5,767,221 shares in the company, valued at approximately $136,510,121.07. The trade was a 5.69% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jon Congleton sold 75,000 shares of the business’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $26.27, for a total value of $1,970,250.00. Following the completion of the transaction, the chief executive officer directly owned 705,051 shares of the company’s stock, valued at approximately $18,521,689.77. The trade was a 9.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 160,120 shares of company stock valued at $4,270,828. 18.94% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Navalign LLC bought a new position in shares of Mineralys Therapeutics in the 4th quarter worth $33,000. KBC Group NV bought a new position in shares of Mineralys Therapeutics in the 1st quarter worth $33,000. Smartleaf Asset Management LLC raised its position in shares of Mineralys Therapeutics by 198.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock worth $40,000 after acquiring an additional 676 shares in the last quarter. Royal Bank of Canada grew its stake in Mineralys Therapeutics by 262.3% during the 4th quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock worth $56,000 after buying an additional 1,107 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in Mineralys Therapeutics by 1,845.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock worth $76,000 after buying an additional 1,993 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Mineralys Therapeutics Stock Up 0.6%

Shares of NASDAQ MLYS opened at $29.73 on Tuesday. Mineralys Therapeutics has a twelve month low of $12.59 and a twelve month high of $47.65. The business has a fifty day simple moving average of $27.17 and a two-hundred day simple moving average of $32.94. The firm has a market cap of $2.45 billion, a PE ratio of -14.50 and a beta of 0.49.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.04. On average, research analysts expect that Mineralys Therapeutics will post -2.29 earnings per share for the current 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.