HC Wainwright Reiterates Buy Rating for Mineralys Therapeutics (NASDAQ:MLYS)

Mineralys Therapeutics (NASDAQ:MLYS)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They currently have a $30.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 101.07% from the company’s current price.

Mineralys Therapeutics Trading Up 6.3 %

NASDAQ MLYS opened at $14.92 on Tuesday. Mineralys Therapeutics has a 12 month low of $5.85 and a 12 month high of $16.91. The stock’s 50 day moving average is $12.95 and its 200 day moving average is $12.64. The stock has a market cap of $741.97 million, a PE ratio of -5.51 and a beta of 1.71.

Mineralys Therapeutics (NASDAQ:MLYS) last released its earnings results on Tuesday, August 13th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.10). During the same period in the previous year, the firm earned ($0.31) EPS. On average, analysts forecast that Mineralys Therapeutics will post -3.08 EPS for the current fiscal year.

Insider Buying and Selling at Mineralys Therapeutics

In other news, insider David Malcom Rodman sold 25,482 shares of Mineralys Therapeutics stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $15.03, for a total value of $382,994.46. Following the sale, the insider now directly owns 135,974 shares of the company’s stock, valued at approximately $2,043,689.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction on Friday, October 11th. The shares were sold at an average price of $13.57, for a total value of $145,972.49. Following the completion of the transaction, the chief financial officer now directly owns 236,854 shares of the company’s stock, valued at $3,214,108.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider David Malcom Rodman sold 25,482 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $15.03, for a total transaction of $382,994.46. Following the sale, the insider now owns 135,974 shares in the company, valued at $2,043,689.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,510 shares of company stock valued at $735,431 in the last 90 days. Insiders own 33.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RA Capital Management L.P. boosted its holdings in shares of Mineralys Therapeutics by 52.6% in the 1st quarter. RA Capital Management L.P. now owns 4,850,984 shares of the company’s stock worth $62,626,000 after purchasing an additional 1,672,508 shares during the period. SR One Capital Management LP lifted its position in Mineralys Therapeutics by 12.4% in the first quarter. SR One Capital Management LP now owns 2,016,822 shares of the company’s stock worth $26,037,000 after buying an additional 222,222 shares during the last quarter. Vanguard Group Inc. boosted its stake in Mineralys Therapeutics by 0.5% during the first quarter. Vanguard Group Inc. now owns 982,932 shares of the company’s stock worth $12,690,000 after buying an additional 4,952 shares during the period. American Century Companies Inc. lifted its holdings in shares of Mineralys Therapeutics by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 743,140 shares of the company’s stock worth $8,695,000 after acquiring an additional 23,170 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Mineralys Therapeutics by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 696,280 shares of the company’s stock worth $8,432,000 after purchasing an additional 13,023 shares during the period. Hedge funds and other institutional investors 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.