Mineralys Therapeutics, Inc. (MLYS) – What Are Investment Firms Saying About This Stock?

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) have earned a consensus recommendation of “Hold” from the nine analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $45.50.

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

Mineralys Therapeutics Price Performance

Shares of NASDAQ MLYS opened at $18.18 on Tuesday. The company has a market cap of $1.61 billion, a PE ratio of -4.29 and a beta of 0.69. The stock has a fifty day moving average price of $24.78 and a 200 day moving average price of $27.03. The company has a debt-to-equity ratio of 0.18, a current ratio of 34.46 and a quick ratio of 34.46. Mineralys Therapeutics has a 1-year low of $18.11 and a 1-year high of $47.65.

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

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, CEO Jon Congleton sold 75,000 shares of the company’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $25.46, for a total transaction of $1,909,500.00. Following the transaction, the chief executive officer directly owned 528,621 shares in the company, valued at approximately $13,458,690.66. This represents a 12.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 7,438 shares of the stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $28.12, for a total transaction of $209,156.56. Following the completion of the transaction, the insider directly owned 38,400 shares of the company’s stock, valued at approximately $1,079,808. This trade represents a 16.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 199,365 shares of company stock worth $5,461,854. 18.94% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Mineralys Therapeutics in the 2nd quarter valued at approximately $158,832,000. Bank of America Corp DE acquired a new stake in Mineralys Therapeutics during the 2nd quarter valued at $40,620,000. Orbimed Advisors LLC grew its holdings in Mineralys Therapeutics by 109.4% during the 1st quarter. Orbimed Advisors LLC now owns 2,052,900 shares of the company’s stock valued at $55,613,000 after buying an additional 1,072,500 shares during the last quarter. Nantahala Capital Management LLC purchased a new position in Mineralys Therapeutics during the second quarter worth $22,136,577. Finally, Troluce Capital Advisors LLC acquired a new stake in Mineralys Therapeutics during the first quarter worth approximately $17,744,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Mineralys Therapeutics Company Profile

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.