Mineralys Therapeutics (NASDAQ:MLYS) Given Buy Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Mineralys Therapeutics (NASDAQ:MLYS) in a research report report published on Monday morning, Marketbeat.com reports. HC Wainwright currently has a $56.00 target price on the stock.

MLYS has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Friday, July 17th. Zacks Research upgraded Mineralys Therapeutics from a “strong sell” rating to a “hold” rating in a report on Friday, September 11th. Wall Street Zen downgraded Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Finally, UBS Group started coverage on Mineralys Therapeutics in a research note on Sunday. They issued a “neutral” rating and a $29.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $45.50.

Mineralys Therapeutics Stock Performance

Shares of MLYS opened at $22.23 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 34.46 and a current ratio of 34.46. Mineralys Therapeutics has a twelve month low of $21.46 and a twelve month high of $47.65. The firm’s 50 day moving average price is $26.43 and its two-hundred day moving average price is $26.95. The firm has a market cap of $1.97 billion, a P/E ratio of -5.24 and a beta of 0.69.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($2.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($2.30). On average, analysts forecast that Mineralys Therapeutics will post -4.45 EPS for the current fiscal year.

Insider Activity

In other Mineralys Therapeutics news, Director Brian Slingsby sold 104,320 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $28.81, for a total transaction of $3,005,459.20. Following the completion of the transaction, the director owned 7,805,718 shares of the company’s stock, valued at $224,882,735.58. This represents a 1.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David Rodman sold 2,170 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $27.09, for a total transaction of $58,785.30. Following the transaction, the insider directly owned 51,384 shares of the company’s stock, valued at $1,391,992.56. This represents a 4.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 206,803 shares of company stock worth $5,661,713. 18.94% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MLYS. KBC Group NV acquired a new position in shares of Mineralys Therapeutics during the 1st quarter worth approximately $33,000. FNY Investment Advisers LLC raised its stake in shares of Mineralys Therapeutics by 400.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company’s stock worth $67,000 after purchasing an additional 2,000 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Mineralys Therapeutics by 12.6% in the 1st quarter. Quantinno Capital Management LP now owns 20,541 shares of the company’s stock valued at $556,000 after buying an additional 2,298 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Mineralys Therapeutics by 22.4% in the 2nd quarter. Arizona State Retirement System now owns 15,357 shares of the company’s stock valued at $414,000 after buying an additional 2,815 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Mineralys Therapeutics by 33.2% in the 1st quarter. Sei Investments Co. now owns 11,692 shares of the company’s stock valued at $317,000 after buying an additional 2,912 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Mineralys Therapeutics Company Profile

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for hypertension and other cardiovascular and kidney-related conditions associated with excess aldosterone activity. The company is headquartered in Radnor, Pennsylvania.

Mineralys’ lead product candidate is lorundrostat, an oral, highly selective aldosterone synthase inhibitor designed to reduce the production of aldosterone. The company is evaluating lorundrostat as a potential treatment for uncontrolled or resistant hypertension, including hypertension linked to abnormal activation of the renin-angiotensin-aldosterone system.

Mineralys was established to advance therapies targeting aldosterone-driven disease and became a publicly traded company on the Nasdaq exchange in 2023.