Mineralys Therapeutics, Inc. (MLYS) – What Are Brokerages Thinking About This Stock?

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) have been assigned an average recommendation of “Hold” from the nine ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $45.50.

MLYS has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Thursday, October 15th. Zacks Research raised shares of Mineralys Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, September 11th. Wall Street Zen downgraded shares of Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. UBS Group assumed coverage on shares of Mineralys Therapeutics in a research note on Sunday, October 11th. They issued a “neutral” rating and a $29.00 price target for the company. Finally, HC Wainwright reissued a “buy” rating and set a $56.00 price target on shares of Mineralys Therapeutics in a research report on Monday, October 12th.

Insiders Place Their Bets

In other Mineralys Therapeutics news, insider David Rodman sold 2,170 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $27.09, for a total value of $58,785.30. Following the sale, the insider owned 51,384 shares in the company, valued at approximately $1,391,992.56. This represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brian Slingsby sold 104,320 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $28.81, for a total transaction of $3,005,459.20. Following the transaction, the director directly 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 199,365 shares of company stock valued at $5,461,854. Insiders own 18.94% of the company’s stock.

Institutional Trading of Mineralys Therapeutics

A number of hedge funds have recently made changes to their positions in MLYS. Sterling Capital Management LLC grew its stake in shares of Mineralys Therapeutics by 902.0% in the 3rd quarter. Sterling Capital Management LLC now owns 2,024 shares of the company’s stock worth $51,000 after buying an additional 1,822 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new position in Mineralys Therapeutics during the second quarter valued at $2,298,000. WINTON GROUP Ltd purchased a new position in Mineralys Therapeutics during the second quarter valued at $912,000. Arizona State Retirement System raised its stake in Mineralys Therapeutics by 22.4% during the second 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, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Mineralys Therapeutics in the second quarter worth $333,000. 84.46% of the stock is owned by institutional investors.

Mineralys Therapeutics Trading Up 0.0%

NASDAQ MLYS opened at $20.56 on Tuesday. The company has a quick ratio of 34.46, a current ratio of 34.46 and a debt-to-equity ratio of 0.18. Mineralys Therapeutics has a twelve month low of $20.12 and a twelve month high of $47.65. The firm has a market capitalization of $1.82 billion, a PE ratio of -4.85 and a beta of 0.69. The stock’s 50 day moving average is $25.35 and its 200 day moving average is $27.37.

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

About Mineralys Therapeutics

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cardiovascular and kidney diseases associated with excess aldosterone activity. The company’s research centers on selectively targeting aldosterone production, a mechanism involved in blood-pressure regulation and organ damage.

Mineralys’ lead product candidate is lorundrostat, an oral, selective aldosterone synthase inhibitor being evaluated as a potential treatment for uncontrolled and resistant hypertension.