The Goldman Sachs Group Has Lowered Expectations for Mineralys Therapeutics (NASDAQ:MLYS) Stock Price

Mineralys Therapeutics (NASDAQ:MLYS) had its target price cut by stock analysts at The Goldman Sachs Group from $28.00 to $24.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 134.38% from the stock’s previous close.

Separately, HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Mineralys Therapeutics in a report on Thursday.

Mineralys Therapeutics Stock Performance

Shares of MLYS stock opened at $10.24 on Thursday. The stock’s fifty day moving average is $11.17 and its two-hundred day moving average is $12.01. The firm has a market capitalization of $509.64 million, a P/E ratio of -3.13 and a beta of 1.44. Mineralys Therapeutics has a fifty-two week low of $8.58 and a fifty-two week high of $16.91.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data 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 forecast that Mineralys Therapeutics will post -3.63 earnings per share for the current year.

Insider Transactions at Mineralys Therapeutics

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

Institutional Trading of Mineralys Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in Mineralys Therapeutics in the 3rd quarter valued at about $110,000. China Universal Asset Management Co. Ltd. raised its holdings in Mineralys Therapeutics by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock valued at $116,000 after buying an additional 3,732 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in Mineralys Therapeutics in the 2nd quarter valued at about $145,000. Price T Rowe Associates Inc. MD purchased a new stake in Mineralys Therapeutics in the 4th quarter valued at about $145,000. Finally, PDT Partners LLC acquired a new position in Mineralys Therapeutics in the 3rd quarter valued at about $148,000. 84.46% of the stock is currently owned by hedge funds and other 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.