Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Receives $47.43 Consensus Target Price from Brokerages

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) has been given an average rating of “Moderate Buy” by the eight analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $47.4286.

Several research firms recently commented on MLYS. HC Wainwright lifted their price target on Mineralys Therapeutics from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Wells Fargo & Company raised their price target on Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Stifel Nicolaus boosted their price objective on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Thursday, January 22nd.

Insider Activity at Mineralys Therapeutics

In related news, Director Alexander M. Gold sold 12,742 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $46.50, for a total transaction of $592,503.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Malcom Rodman sold 11,367 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $32.61, for a total value of $370,677.87. Following the sale, the insider owned 50,437 shares in the company, valued at $1,644,750.57. The trade was a 18.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,686,955 shares of company stock worth $71,118,551 over the last ninety days. 33.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

Several hedge funds have recently modified their holdings of the company. Smartleaf Asset Management LLC increased its stake in shares of Mineralys Therapeutics by 198.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock valued at $40,000 after purchasing an additional 676 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Mineralys Therapeutics by 51.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,518 shares of the company’s stock valued at $34,000 after buying an additional 850 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Mineralys Therapeutics by 14,091.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,264 shares of the company’s stock worth $124,000 after acquiring an additional 3,241 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in Mineralys Therapeutics by 42.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,995 shares of the company’s stock worth $54,000 after acquiring an additional 1,197 shares during the period. Finally, Victory Capital Management Inc. acquired a new stake in shares of Mineralys Therapeutics in the third quarter valued at about $216,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Mineralys Therapeutics Stock Down 0.6%

Shares of MLYS stock opened at $32.84 on Friday. The company’s fifty day simple moving average is $36.74 and its two-hundred day simple moving average is $32.19. Mineralys Therapeutics has a 52 week low of $8.24 and a 52 week high of $47.65. The stock has a market cap of $2.60 billion, a P/E ratio of -11.13 and a beta of 0.49.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.14. On average, analysts anticipate that Mineralys Therapeutics will post -4.23 EPS for the current fiscal year.

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.