Mineralys Therapeutics (NASDAQ:MLYS) Stock Bumped Up to “Hold” by UBS Group

UBS Group upgraded shares of Mineralys Therapeutics (NASDAQ:MLYS) to a hold rating in a research report released on Sunday,Zacks reports.

MLYS has been the subject of a number of other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. Zacks Research upgraded Mineralys Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, September 11th. HC Wainwright reissued a “buy” rating and set a $56.00 price objective on shares of Mineralys Therapeutics in a research note on Monday. Finally, Wall Street Zen lowered Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Mineralys Therapeutics presently has a consensus rating of “Hold” and an average target price of $45.50.

Mineralys Therapeutics Price Performance

Shares of NASDAQ:MLYS opened at $21.00 on Friday. The company has a 50 day moving average of $26.32 and a 200 day moving average of $26.92. The stock has a market cap of $1.86 billion, a P/E ratio of -4.95 and a beta of 0.69. Mineralys Therapeutics has a 12 month low of $20.41 and a 12 month high of $47.65. The company has a current ratio of 34.46, a quick ratio of 34.46 and a debt-to-equity ratio of 0.18.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results 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). As a group, sell-side analysts forecast that Mineralys Therapeutics will post -4.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Mineralys Therapeutics news, insider Eric Warren sold 7,438 shares of the business’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $26.87, for a total value of $199,859.06. Following the completion of the transaction, the insider owned 38,400 shares of the company’s stock, valued at $1,031,808. The trade was a 16.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jon Congleton sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $25.46, for a total transaction of $1,909,500.00. Following the completion of the transaction, the chief executive officer directly owned 528,621 shares of the company’s stock, valued at approximately $13,458,690.66. This represents a 12.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 206,803 shares of company stock valued at $5,661,713 in the last 90 days. 18.94% of the stock is owned by company insiders.

Institutional Trading of Mineralys Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. KBC Group NV purchased a new position in shares of Mineralys Therapeutics during the 1st quarter valued at about $33,000. FNY Investment Advisers LLC lifted its position in Mineralys Therapeutics by 400.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company’s stock worth $67,000 after buying an additional 2,000 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Mineralys Therapeutics by 3,439.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,823 shares of the company’s stock worth $139,000 after buying an additional 3,715 shares during the last quarter. Capstone Investment Advisors LLC purchased a new stake in Mineralys Therapeutics in the second quarter worth approximately $226,000. Finally, Walleye Capital LLC purchased a new stake in Mineralys Therapeutics in the second quarter worth approximately $271,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

About Mineralys Therapeutics

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.