Mineralys Therapeutics’ (MLYS) Buy Rating Reaffirmed at Guggenheim

Guggenheim reissued their buy rating on shares of Mineralys Therapeutics (NASDAQ:MLYS) in a research report released on Monday morning,Benzinga reports.

A number of other research analysts have also weighed in on MLYS. The Goldman Sachs Group cut their target price on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, February 13th. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Mineralys Therapeutics in a report on Thursday, February 13th.

Mineralys Therapeutics Stock Performance

MLYS stock opened at $9.25 on Monday. The firm has a fifty day moving average price of $10.80 and a 200 day moving average price of $11.92. Mineralys Therapeutics has a fifty-two week low of $8.58 and a fifty-two week high of $16.91. The firm has a market cap of $460.98 million, a PE ratio of -2.54 and a beta of 1.44.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02. On average, equities analysts predict that Mineralys Therapeutics will post -4.23 EPS for the current year.

Insiders Place Their Bets

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction on Monday, January 13th. The shares were sold at an average price of $9.10, for a total transaction of $97,888.70. Following the completion of the transaction, the chief financial officer now directly owns 226,097 shares of the company’s stock, valued at $2,057,482.70. The trade was a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jon Congleton sold 18,333 shares of Mineralys Therapeutics stock in a transaction on Monday, January 13th. The stock was sold at an average price of $9.06, for a total value of $166,096.98. Following the sale, the chief executive officer now owns 877,608 shares of the company’s stock, valued at approximately $7,951,128.48. This trade represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 33.24% of the stock is owned by insiders.

Institutional Trading of Mineralys Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. lifted its position in shares of Mineralys Therapeutics by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company’s stock worth $130,000 after purchasing an additional 989 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Mineralys Therapeutics by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 214,906 shares of the company’s stock worth $2,645,000 after purchasing an additional 1,307 shares during the last quarter. Northern Trust Corp lifted its position in shares of Mineralys Therapeutics by 0.7% during the fourth quarter. Northern Trust Corp now owns 246,113 shares of the company’s stock worth $3,030,000 after purchasing an additional 1,688 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Mineralys Therapeutics by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 65,318 shares of the company’s stock worth $804,000 after purchasing an additional 1,711 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Mineralys Therapeutics by 19.1% during the fourth quarter. Wells Fargo & Company MN now owns 23,714 shares of the company’s stock worth $292,000 after purchasing an additional 3,802 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

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.