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

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) have been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $49.3333.

A number of research firms have commented on MLYS. HC Wainwright reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Wall Street Zen cut shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. TD Cowen began coverage on shares of Mineralys Therapeutics in a research report on Monday, April 27th. They issued a “buy” rating on the stock. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st.

Mineralys Therapeutics Stock Performance

Shares of MLYS stock opened at $26.68 on Wednesday. The company’s 50-day moving average price is $27.33 and its 200-day moving average price is $29.44. Mineralys Therapeutics has a twelve month low of $12.59 and a twelve month high of $47.65. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -13.01 and a beta of 0.56.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Wednesday, May 6th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.04. As a group, equities research analysts predict that Mineralys Therapeutics will post -2.3 EPS for the current year.

Insider Transactions at Mineralys Therapeutics

In other news, Director Daphne Karydas sold 3,000 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $25.00, for a total transaction of $75,000.00. Following the sale, the director owned 6,200 shares of the company’s stock, valued at approximately $155,000. This represents a 32.61% 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Malcom Rodman sold 4,584 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $25.00, for a total transaction of $114,600.00. Following the sale, the insider directly owned 57,095 shares in the company, valued at $1,427,375. This represents a 7.43% 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. Over the last quarter, insiders have sold 165,707 shares of company stock valued at $4,383,768. 18.94% of the stock is currently owned by corporate insiders.

Institutional Trading of Mineralys Therapeutics

Several hedge funds have recently made changes to their positions in MLYS. AQR Capital Management LLC acquired a new stake in shares of Mineralys Therapeutics during the first quarter worth about $550,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Mineralys Therapeutics by 4.3% during the first 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 in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Mineralys Therapeutics by 166.6% during the first 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 in the last quarter. Woodline Partners LP acquired a new stake in shares of Mineralys Therapeutics during the first quarter worth about $757,000. Finally, Creative Planning acquired a new stake in shares of Mineralys Therapeutics during the second quarter worth about $336,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.