Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Stock Has Average Price Target of $48.80

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) has earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $48.80.

Several equities analysts have recently issued reports on the company. Zacks Research raised 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Friday, July 17th.

Mineralys Therapeutics Price Performance

MLYS stock opened at $23.63 on Friday. Mineralys Therapeutics has a twelve month low of $22.30 and a twelve month high of $47.65. 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 firm has a market cap of $2.09 billion, a PE ratio of -5.57 and a beta of 0.69. The business has a 50 day moving average of $26.89 and a 200 day moving average of $27.00.

Mineralys Therapeutics (NASDAQ:MLYS) last released its 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). On average, research analysts forecast that Mineralys Therapeutics will post -4.45 EPS for the current fiscal year.

Insider Transactions at Mineralys Therapeutics

In related news, Director Brian Slingsby sold 104,320 shares of the business’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 value of $3,005,459.20. Following the completion of the transaction, the director directly owned 7,805,718 shares in the company, valued at $224,882,735.58. The trade was a 1.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Warren sold 7,438 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $28.12, for a total transaction of $209,156.56. Following the completion of the transaction, the insider owned 38,400 shares of the company’s stock, valued at approximately $1,079,808. The trade was a 16.23% 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 have sold 208,974 shares of company stock valued at $5,727,495. 18.94% of the stock is currently owned by insiders.

Institutional Trading of Mineralys Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. KBC Group NV bought a new position in shares of Mineralys Therapeutics during the first quarter valued at $33,000. FNY Investment Advisers LLC increased its holdings in Mineralys Therapeutics by 400.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company’s stock worth $67,000 after buying an additional 2,000 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Mineralys Therapeutics by 1,845.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock worth $76,000 after buying an additional 1,993 shares in the last quarter. Capstone Investment Advisors LLC purchased a new position in Mineralys Therapeutics in the 2nd quarter worth about $226,000. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in Mineralys Therapeutics in the 4th quarter worth about $232,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

About Mineralys Therapeutics

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for hypertension and other cardiovascular and kidney-related conditions associated with excess aldosterone activity. The company is headquartered in Radnor, Pennsylvania.

Mineralys’ lead product candidate is lorundrostat, an oral, highly selective aldosterone synthase inhibitor designed to reduce the production of aldosterone. The company is evaluating lorundrostat as a potential treatment for uncontrolled or resistant hypertension, including hypertension linked to abnormal activation of the renin-angiotensin-aldosterone system.

Mineralys was established to advance therapies targeting aldosterone-driven disease and became a publicly traded company on the Nasdaq exchange in 2023.