Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) have been given an average recommendation of “Hold” by the eight research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $48.80.

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group reissued 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 report on Friday, July 17th. Wall Street Zen cut shares of Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. HC Wainwright reissued a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Finally, Zacks Research lowered shares of Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 13th.

Mineralys Therapeutics Trading Down 3.8%

NASDAQ MLYS opened at $28.20 on Monday. Mineralys Therapeutics has a 52 week low of $22.30 and a 52 week high of $47.65. The firm has a 50 day moving average of $27.24 and a two-hundred day moving average of $27.15. The company has a quick ratio of 34.46, a current ratio of 34.46 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $2.49 billion, a PE ratio of -6.65 and a beta of 0.68.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($2.85) EPS for the quarter, missing the consensus estimate of ($0.55) by ($2.30). As a group, research analysts expect that Mineralys Therapeutics will post -4.45 EPS for the current fiscal year.

Insider Transactions at Mineralys Therapeutics

In related news, insider David Rodman sold 2,170 shares of the firm’s stock in a transaction 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 in the company, valued at $1,391,992.56. This trade represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daphne Karydas sold 3,000 shares of Mineralys Therapeutics stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $25.00, for a total value of $75,000.00. Following the completion of the transaction, the director owned 6,200 shares of the company’s stock, valued at approximately $155,000. The trade was a 32.61% 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 215,814 shares of company stock valued at $5,600,031. 18.94% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MLYS. AQR Capital Management LLC purchased a new position in Mineralys Therapeutics in the 1st quarter worth about $550,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Mineralys Therapeutics by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock worth $271,000 after purchasing an additional 702 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Mineralys Therapeutics by 166.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company’s stock worth $4,739,000 after purchasing an additional 186,480 shares during the period. Woodline Partners LP acquired a new stake in shares of Mineralys Therapeutics during the 1st quarter valued at about $757,000. Finally, Creative Planning acquired a new stake in shares of Mineralys Therapeutics in the 2nd quarter valued at $336,000. 84.46% of the stock is owned by institutional investors.

About Mineralys Therapeutics

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cardiovascular and kidney-related diseases. The company’s research is centered on conditions associated with excess aldosterone activity, including uncontrolled and resistant hypertension.

Mineralys’ lead investigational product is lorundrostat, also known as MLS-101, an oral, highly selective aldosterone synthase inhibitor. The company is evaluating lorundrostat in clinical studies as a potential treatment for patients whose blood pressure remains inadequately controlled despite existing therapy.