Mineralys Therapeutics (NASDAQ:MLYS) Earns Buy Rating from HC Wainwright

Mineralys Therapeutics (NASDAQ:MLYS)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research note issued on Thursday, Benzinga reports. They presently have a $30.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 123.05% from the company’s current price.

Mineralys Therapeutics Stock Performance

Shares of MLYS stock opened at $13.45 on Thursday. The firm has a market cap of $668.83 million, a price-to-earnings ratio of -4.96 and a beta of 1.93. Mineralys Therapeutics has a 52 week low of $5.85 and a 52 week high of $16.91. The firm’s 50-day simple moving average is $12.72 and its two-hundred day simple moving average is $12.51.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data 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 last year, the company earned ($0.31) EPS. Analysts forecast that Mineralys Therapeutics will post -3.08 earnings per share for the current year.

Insider Activity

In other news, CEO Jon Congleton sold 15,271 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $13.52, for a total value of $206,463.92. Following the sale, the chief executive officer now owns 895,941 shares of the company’s stock, valued at $12,113,122.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Adam Scott Levy sold 10,757 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 236,854 shares of the company’s stock, valued at $3,214,108.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jon Congleton sold 15,271 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $13.52, for a total transaction of $206,463.92. Following the completion of the sale, the chief executive officer now directly owns 895,941 shares in the company, valued at approximately $12,113,122.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 33.24% of the company’s stock.

Institutional Trading of Mineralys Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. RA Capital Management L.P. increased its holdings in Mineralys Therapeutics by 52.6% during the 1st quarter. RA Capital Management L.P. now owns 4,850,984 shares of the company’s stock worth $62,626,000 after acquiring an additional 1,672,508 shares during the period. Affinity Asset Advisors LLC bought a new stake in Mineralys Therapeutics during the 1st quarter worth approximately $4,234,000. SR One Capital Management LP increased its holdings in Mineralys Therapeutics by 12.4% during the 1st quarter. SR One Capital Management LP now owns 2,016,822 shares of the company’s stock worth $26,037,000 after acquiring an additional 222,222 shares during the period. Nantahala Capital Management LLC increased its holdings in Mineralys Therapeutics by 60.1% during the 2nd quarter. Nantahala Capital Management LLC now owns 532,506 shares of the company’s stock worth $6,230,000 after acquiring an additional 200,000 shares during the period. Finally, Driehaus Capital Management LLC increased its holdings in Mineralys Therapeutics by 40.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 257,371 shares of the company’s stock worth $3,011,000 after acquiring an additional 74,074 shares during the period. Institutional investors own 84.46% of the company’s stock.

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.