Brokerages Set Mineralys Therapeutics, Inc. (NASDAQ:MLYS) PT at $49.33

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $49.3333.

Several research firms recently issued reports on MLYS. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. HC Wainwright reissued a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday. TD Cowen initiated coverage on shares of Mineralys Therapeutics in a report on Monday, April 27th. They set a “buy” rating on the stock. Wall Street Zen lowered shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Bank of America upped their target price on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, March 13th.

Mineralys Therapeutics Stock Down 13.1%

NASDAQ:MLYS opened at $25.06 on Friday. The company has a fifty day moving average of $27.93 and a 200-day moving average of $31.44. The firm has a market capitalization of $2.07 billion, a P/E ratio of -12.22 and a beta of 0.57. Mineralys Therapeutics has a twelve month low of $12.59 and a twelve month high of $47.65.

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

Insider Activity

In other news, Director Ra Capital Management, L.P. bought 310,700 shares of Mineralys Therapeutics stock in a transaction dated Friday, March 27th. The stock was purchased at an average price of $23.67 per share, for a total transaction of $7,354,269.00. Following the purchase, the director directly owned 5,767,221 shares in the company, valued at $136,510,121.07. The trade was a 5.69% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David Malcom Rodman sold 14,056 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $28.58, for a total transaction of $401,720.48. Following the completion of the sale, the insider owned 63,443 shares of the company’s stock, valued at approximately $1,813,200.94. The trade was a 18.14% 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 90 days, insiders have sold 162,291 shares of company stock worth $4,353,683. 18.94% of the stock is owned by insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of hedge funds have recently made changes to their positions in MLYS. State Street Corp raised its stake in shares of 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 during the period. Farallon Capital Management LLC bought a new stake in shares of Mineralys Therapeutics during the 3rd quarter worth $63,442,000. Price T Rowe Associates Inc. MD raised its stake in shares of Mineralys Therapeutics by 6,097.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,325,120 shares of the company’s stock worth $48,089,000 after purchasing an additional 1,303,737 shares during the period. Holocene Advisors LP bought a new stake in shares of Mineralys Therapeutics during the 3rd quarter worth $45,708,000. Finally, Janus Henderson Group PLC raised its stake in shares of Mineralys Therapeutics by 6,012.8% during the 4th quarter. Janus Henderson Group PLC now owns 1,213,265 shares of the company’s stock worth $44,005,000 after purchasing an additional 1,193,417 shares during the period. 84.46% of the stock is currently owned by institutional investors.

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.