Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Given Average Rating of "Hold" by Brokerages

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) have been assigned an average recommendation of "Hold" from the nine analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $49.3333.

A number of research firms have issued reports on MLYS. HC Wainwright reaffirmed a "buy" rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Wall Street Zen lowered shares of Mineralys Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Jefferies Financial Group reissued a "hold" rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. Finally, Zacks Research downgraded Mineralys Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 13th.

Mineralys Therapeutics Stock Performance

MLYS opened at $28.21 on Monday. Mineralys Therapeutics has a 52-week low of $22.30 and a 52-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 company has a market cap of $2.49 billion, a P/E ratio of -6.65 and a beta of 0.68. The firm's 50-day moving average price is $27.02 and its 200-day moving average price is $27.09.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported ($2.85) EPS for the quarter, missing analysts' consensus estimates of ($0.55) by ($2.30). As a group, equities analysts anticipate that Mineralys Therapeutics will post -4.45 EPS for the current fiscal year.

Insider Transactions at Mineralys Therapeutics

In related news, insider Eric Warren sold 104,124 shares of Mineralys Therapeutics stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $25.90, for a total transaction of $2,696,811.60. Following the completion of the sale, the insider owned 38,400 shares of the company's stock, valued at $994,560. The trade was a 73.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jon Congleton sold 75,000 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $26.14, for a total value of $1,960,500.00. Following the completion of the sale, the chief executive officer owned 614,321 shares in the company, valued at approximately $16,058,350.94. This represents a 10.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 224,333 shares of company stock valued at $5,806,213. 18.94% of the stock is owned by company insiders.

Institutional Trading of Mineralys Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in MLYS. Navalign LLC acquired a new position in Mineralys Therapeutics during the fourth quarter valued at $33,000. KBC Group NV acquired a new stake in Mineralys Therapeutics during the 1st quarter worth about $33,000. Royal Bank of Canada raised its stake in shares of Mineralys Therapeutics by 262.3% during the 4th quarter. Royal Bank of Canada now owns 1,529 shares of the company's stock valued at $56,000 after buying an additional 1,107 shares during the last quarter. FNY Investment Advisers LLC boosted its stake in shares of Mineralys Therapeutics by 400.0% in the second quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company's stock worth $67,000 after buying an additional 2,000 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Mineralys Therapeutics by 1,845.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company's stock worth $76,000 after acquiring an additional 1,993 shares during the period. Institutional investors and hedge funds own 84.46% of the company's stock.

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. The company was formerly known as Catalys SC1, Inc and changed its name to Mineralys Therapeutics, Inc in May 2020. The company was incorporated in 2019 and is headquartered in Radnor, Pennsylvania.

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