Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Given Average Rating of “Moderate Buy” by Brokerages

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) has received a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. One equities 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 target price among analysts that have issued ratings on the stock in the last year is $49.3333.

MLYS has been the subject of several analyst reports. Jefferies Financial Group reaffirmed a “hold” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. Bank of America boosted their target price on Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Wall Street Zen cut Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, HC Wainwright reiterated a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st.

Mineralys Therapeutics Stock Up 0.9%

MLYS opened at $25.61 on Wednesday. The business has a 50 day moving average price of $27.45 and a two-hundred day moving average price of $29.69. The company has a market cap of $2.11 billion, a PE ratio of -12.49 and a beta of 0.57. Mineralys Therapeutics has a 52 week low of $12.59 and a 52 week high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.51) by $0.04. As a group, sell-side analysts expect that Mineralys Therapeutics will post -2.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Daphne Karydas sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $25.00, for a total value of $75,000.00. Following the sale, the director owned 6,200 shares of the company’s stock, valued at approximately $155,000. This represents a 32.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jon Congleton sold 15,730 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $26.83, for a total value of $422,035.90. Following the completion of the sale, the chief executive officer directly owned 689,321 shares in the company, valued at approximately $18,494,482.43. The trade was a 2.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 165,707 shares of company stock worth $4,383,768 in the last quarter. Company insiders own 18.94% of the company’s stock.

Institutional Trading of Mineralys Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RA Capital Management L.P. increased its position in Mineralys Therapeutics by 19.1% during the 3rd quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company’s stock worth $277,717,000 after purchasing an additional 1,176,470 shares in the last quarter. Vanguard Group Inc. increased its position in Mineralys Therapeutics by 11.1% during the 4th quarter. Vanguard Group Inc. now owns 3,352,880 shares of the company’s stock worth $121,676,000 after purchasing an additional 333,881 shares in the last quarter. State Street Corp increased its position in Mineralys Therapeutics by 144.4% during the 4th quarter. State Street Corp now owns 3,184,999 shares of the company’s stock worth $115,584,000 after purchasing an additional 1,881,976 shares in the last quarter. Caligan Partners LP increased its position in Mineralys Therapeutics by 37.4% during the 3rd quarter. Caligan Partners LP now owns 2,772,654 shares of the company’s stock worth $105,139,000 after purchasing an additional 755,302 shares in the last quarter. Finally, Suvretta Capital Management LLC increased its position in Mineralys Therapeutics by 22.2% during the 3rd quarter. Suvretta Capital Management LLC now owns 2,132,133 shares of the company’s stock worth $80,850,000 after purchasing an additional 387,641 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

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.