Mineralys Therapeutics' (MLYS) "Buy" Rating Reaffirmed at HC Wainwright

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at HC Wainwright in a research report issued on Monday, MarketBeat Ratings reports. They currently have a $56.00 price target on the stock. HC Wainwright's target price would indicate a potential upside of 168.33% from the stock's current price.

Several other equities research analysts also recently weighed in on the company. Zacks Research upgraded Mineralys Therapeutics from a "strong sell" rating to a "hold" rating in a report on Friday, September 11th. UBS Group initiated coverage on Mineralys Therapeutics in a report on Sunday. They issued a "neutral" rating and a $29.00 price objective for the company. Wall Street Zen downgraded Mineralys Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Mineralys Therapeutics has an average rating of "Hold" and an average target price of $45.50.

Mineralys Therapeutics Price Performance

Shares of NASDAQ:MLYS traded down $0.13 during mid-day trading on Monday, reaching $20.87. The stock had a trading volume of 391,210 shares, compared to its average volume of 1,287,366. Mineralys Therapeutics has a 1 year low of $20.41 and a 1 year high of $47.65. The company has a current ratio of 34.46, a quick ratio of 34.46 and a debt-to-equity ratio of 0.18. The business's 50 day moving average price is $26.32 and its 200 day moving average price is $26.92. The company has a market cap of $1.85 billion, a P/E ratio of -4.92 and a beta of 0.69.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($2.85) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.55) by ($2.30). Research analysts expect that Mineralys Therapeutics will post -4.45 EPS for the current fiscal year.

Insider Activity at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 75,000 shares of the company's stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $25.46, for a total transaction of $1,909,500.00. Following the completion of the sale, the chief executive officer owned 528,621 shares of the company's stock, valued at approximately $13,458,690.66. This represents a 12.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 7,438 shares of the company's stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $28.12, for a total value of $209,156.56. Following the completion of the sale, the insider owned 38,400 shares of the company's stock, valued at $1,079,808. This trade represents a 16.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 206,803 shares of company stock worth $5,661,713 in the last quarter. Corporate insiders own 18.94% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MLYS. KBC Group NV purchased a new stake in Mineralys Therapeutics in the 1st quarter valued at approximately $33,000. FNY Investment Advisers LLC boosted its holdings in Mineralys Therapeutics by 400.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company's stock valued at $67,000 after purchasing an additional 2,000 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Mineralys Therapeutics by 3,439.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,823 shares of the company's stock valued at $139,000 after purchasing an additional 3,715 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in Mineralys Therapeutics in the 2nd quarter valued at approximately $226,000. Finally, Walleye Capital LLC purchased a new stake in Mineralys Therapeutics in the 2nd quarter valued at approximately $271,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

About Mineralys Therapeutics

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for hypertension and other cardiovascular and kidney-related conditions associated with excess aldosterone activity. The company is headquartered in Radnor, Pennsylvania.

Mineralys' lead product candidate is lorundrostat, an oral, highly selective aldosterone synthase inhibitor designed to reduce the production of aldosterone. The company is evaluating lorundrostat as a potential treatment for uncontrolled or resistant hypertension, including hypertension linked to abnormal activation of the renin-angiotensin-aldosterone system.

Mineralys was established to advance therapies targeting aldosterone-driven disease and became a publicly traded company on the Nasdaq exchange in 2023.