Mineralys Therapeutics (NASDAQ:MLYS) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Mineralys Therapeutics (NASDAQ:MLYS) in a research report sent to investors on Monday morning,Benzinga reports. HC Wainwright currently has a $30.00 price objective on the stock.

A number of other research firms have also issued reports on MLYS. Guggenheim reiterated a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th. The Goldman Sachs Group lowered their price target 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.

Mineralys Therapeutics Trading Up 42.2 %

Shares of NASDAQ MLYS opened at $14.96 on Monday. The stock has a fifty day moving average price of $10.31 and a 200 day moving average price of $11.88. Mineralys Therapeutics has a 12-month low of $8.24 and a 12-month high of $18.29. The company has a market cap of $745.55 million, a P/E ratio of -4.11 and a beta of 1.50.

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

Insiders Place Their Bets

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

Institutional Trading of Mineralys Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new stake in shares of Mineralys Therapeutics in the 4th quarter valued at approximately $48,000. ProShare Advisors LLC acquired a new position in Mineralys Therapeutics in the fourth quarter worth $128,000. China Universal Asset Management Co. Ltd. increased its stake in 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 valued at $130,000 after purchasing an additional 989 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Mineralys Therapeutics during the fourth quarter worth $145,000. Finally, PDT Partners LLC bought a new position in shares of Mineralys Therapeutics in the 3rd quarter worth about $148,000. Institutional investors and hedge funds 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.