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

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $49.3333.

A number of research firms have recently commented on MLYS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Wall Street Zen lowered shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Jefferies Financial Group restated a “hold” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Finally, TD Cowen started coverage on shares of Mineralys Therapeutics in a research report on Monday, April 27th. They set a “buy” rating on the stock.

Mineralys Therapeutics Stock Down 1.1%

Shares of Mineralys Therapeutics stock opened at $26.71 on Friday. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -13.03 and a beta of 0.66. Mineralys Therapeutics has a twelve month low of $12.59 and a twelve month high of $47.65. The business has a 50-day moving average price of $27.05 and a 200-day moving average price of $28.24.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.04. On average, equities analysts expect that Mineralys Therapeutics will post -2.3 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider David Malcom Rodman sold 2,171 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $30.30, for a total value of $65,781.30. Following the completion of the sale, the insider directly owned 57,733 shares of the company’s stock, valued at $1,749,309.90. This trade represents a 3.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jon Congleton sold 75,000 shares of Mineralys Therapeutics stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $26.14, for a total value of $1,960,500.00. Following the completion of the transaction, the chief executive officer owned 614,321 shares of the company’s stock, valued at approximately $16,058,350.94. This trade represents a 10.88% 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. In the last three months, insiders have sold 230,280 shares of company stock valued at $6,018,442. 18.94% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Navalign LLC purchased a new position in shares of Mineralys Therapeutics during the 4th quarter worth about $33,000. KBC Group NV purchased a new stake in Mineralys Therapeutics in the 1st quarter worth about $33,000. Royal Bank of Canada raised its position in Mineralys Therapeutics by 262.3% in the 4th quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock worth $56,000 after purchasing an additional 1,107 shares during the period. FNY Investment Advisers LLC lifted its stake in Mineralys Therapeutics by 400.0% in the second 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 during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Mineralys Therapeutics by 1,845.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock worth $76,000 after purchasing an additional 1,993 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

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.