Mineralys Therapeutics (NASDAQ:MLYS) Upgraded to "Hold" at UBS Group

Key Points

• UBS Group upgraded Mineralys Therapeutics to “Hold,” bringing the analyst consensus to Hold with a $45.50 average price target. Ratings remain mixed, ranging from Buy to Sell.
• Shares opened at $21.00, near the company’s 52-week low of $20.41, while Mineralys reported a quarterly loss of $2.85 per share—well below the $0.55 loss analysts expected.
• Insiders sold approximately 206,803 shares worth $5.66 million over the past 90 days, although institutional investors own a substantial 84.46% of the stock.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) was upgraded by equities researchers at UBS Group to a "hold" rating in a report issued on Sunday, Zacks reports.

Other analysts have also recently issued reports about the company. Weiss Ratings restated a "sell (d-)" rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Zacks Research upgraded Mineralys Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Friday, September 11th. Wall Street Zen downgraded shares of Mineralys Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Finally, HC Wainwright reiterated a "buy" rating and set a $56.00 price objective on shares of Mineralys Therapeutics in a research report on Monday. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Mineralys Therapeutics currently has a consensus rating of "Hold" and a consensus target price of $45.50.

Mineralys Therapeutics Price Performance

Shares of NASDAQ MLYS opened at $21.00 on Friday. Mineralys Therapeutics has a fifty-two week low of $20.41 and a fifty-two week high of $47.65. The company has a quick ratio of 34.46, a current ratio of 34.46 and a debt-to-equity ratio of 0.18. The business has a fifty day moving average price of $26.32 and a two-hundred day moving average price of $26.92.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($2.85) EPS for the quarter, missing the consensus estimate of ($0.55) by ($2.30). On average, equities research analysts anticipate that Mineralys Therapeutics will post -4.45 EPS for the current year.

Insider Activity at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 75,000 shares of the stock in a transaction that occurred on Wednesday, September 30th. The stock was 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 directly owned 528,621 shares of the company's stock, valued at approximately $13,458,690.66. This trade represents a 12.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daphne Karydas sold 3,000 shares of the company's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $28.58, for a total value of $85,740.00. Following the completion of the transaction, the director owned 6,200 shares of the company's stock, valued at $177,196. This trade represents a 32.61% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 206,803 shares of company stock valued at $5,661,713 over the last 90 days. Corporate insiders own 18.94% of the company's stock.

Institutional Trading of Mineralys Therapeutics

Large investors have recently bought and sold shares of the company. BlueCrest Capital Management Ltd purchased a new stake in shares of Mineralys Therapeutics in the second quarter worth about $2,298,000. WINTON GROUP Ltd bought a new position in shares of Mineralys Therapeutics in the second quarter worth $912,000. Arizona State Retirement System boosted its stake in Mineralys Therapeutics by 22.4% during the second quarter. Arizona State Retirement System now owns 15,357 shares of the company's stock valued at $414,000 after buying an additional 2,815 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Mineralys Therapeutics in the 2nd quarter worth about $333,000. Finally, Pale Fire Capital SE boosted its position in shares of Mineralys Therapeutics by 68.0% during the 2nd quarter. Pale Fire Capital SE now owns 614,284 shares of the company's stock valued at $16,573,000 after acquiring an additional 248,658 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

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.

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