Mineralys Therapeutics (NASDAQ:MLYS) Stock Rating Lowered by Wall Street Zen

Mineralys Therapeutics (NASDAQ:MLYS) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

MLYS has been the topic of a number of other reports. HC Wainwright restated a “buy” rating and set a $42.00 target price on shares of Mineralys Therapeutics in a research report on Tuesday, May 13th. Guggenheim set a $48.00 price target on Mineralys Therapeutics and gave the company a “buy” rating in a report on Wednesday, May 14th. Finally, Jefferies Financial Group assumed coverage on shares of Mineralys Therapeutics in a research report on Tuesday, June 10th. They set a “hold” rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $32.25.

Mineralys Therapeutics Stock Performance

Mineralys Therapeutics stock opened at $14.32 on Friday. The company’s 50 day simple moving average is $14.74 and its 200-day simple moving average is $12.84. Mineralys Therapeutics has a 1 year low of $8.24 and a 1 year high of $18.38. The company has a market capitalization of $933.31 million, a price-to-earnings ratio of -3.93 and a beta of -0.17.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.79) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.02) by $0.23. Equities analysts expect that Mineralys Therapeutics will post -4.23 earnings per share for the current year.

Insiders Place Their Bets

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 11,366 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $15.29, for a total value of $173,786.14. Following the completion of the transaction, the insider now owns 106,669 shares in the company, valued at $1,630,969.01. This represents a 9.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of the firm’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $12.06, for a total transaction of $129,729.42. Following the sale, the chief financial officer now directly owns 215,340 shares of the company’s stock, valued at approximately $2,597,000.40. The trade was a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,579 shares of company stock valued at $1,534,353. Insiders own 25.56% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. RA Capital Management L.P. boosted its stake in Mineralys Therapeutics by 26.7% during the 1st quarter. RA Capital Management L.P. now owns 6,147,280 shares of the company’s stock valued at $97,619,000 after acquiring an additional 1,296,296 shares during the last quarter. SR One Capital Management LP increased its position in Mineralys Therapeutics by 55.1% in the 1st quarter. SR One Capital Management LP now owns 3,127,933 shares of the company’s stock valued at $49,672,000 after acquiring an additional 1,111,111 shares during the period. Vanguard Group Inc. lifted its holdings in Mineralys Therapeutics by 42.1% in the first quarter. Vanguard Group Inc. now owns 2,035,506 shares of the company’s stock worth $32,324,000 after purchasing an additional 603,464 shares during the period. Jennison Associates LLC boosted its holdings in shares of Mineralys Therapeutics by 82.9% in the first quarter. Jennison Associates LLC now owns 1,979,033 shares of the company’s stock valued at $31,427,000 after acquiring an additional 897,027 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Mineralys Therapeutics by 1,015.8% during the fourth quarter. Millennium Management LLC now owns 1,101,674 shares of the company’s stock worth $13,562,000 after acquiring an additional 1,002,941 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

About Mineralys Therapeutics

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.