Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Stock Has Consensus Price Target of $45.50 According to Analysts

Key Points

• Analysts hold a mixed view of Mineralys Therapeutics, with five buys, three holds and one sell among nine analysts; the consensus rating is “Hold” and the average 12-month price target is $45.50.
• MLYS shares opened at $20.56, near their 52-week low of $20.12 and well below the $47.65 high, while the company reported a quarterly loss of $2.85 per share—$2.30 worse than consensus expectations.
• Insiders sold 199,365 shares worth about $5.46 million during the last quarter, while institutional investors own a substantial 84.46% of the company.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) has been assigned a consensus recommendation of "Hold" from the nine analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $45.50.

Several brokerages have recently commented on MLYS. Zacks Research raised shares of Mineralys Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Friday, September 11th. Wall Street Zen lowered shares of Mineralys Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. UBS Group began coverage on Mineralys Therapeutics in a research note on Sunday, October 11th. They issued a "neutral" rating and a $29.00 target price on the stock. HC Wainwright restated a "buy" rating and set a $56.00 price target on shares of Mineralys Therapeutics in a report on Monday, October 12th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Mineralys Therapeutics in a report on Thursday, October 15th.

Insiders Place Their Bets

In other news, Director Brian Slingsby sold 104,320 shares of the business's stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $28.81, for a total transaction of $3,005,459.20. Following the transaction, the director directly owned 7,805,718 shares of the company's stock, valued at approximately $224,882,735.58. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jon Congleton sold 75,000 shares of the business's stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $25.46, for a total value of $1,909,500.00. Following the transaction, the chief executive officer directly owned 528,621 shares in the company, valued at $13,458,690.66. This trade represents a 12.43% 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. In the last quarter, insiders have sold 199,365 shares of company stock worth $5,461,854. Insiders own 18.94% of the company's stock.

Institutional Trading of Mineralys Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. KBC Group NV bought a new stake in Mineralys Therapeutics in the first quarter valued at $33,000. Sterling Capital Management LLC increased its position in Mineralys Therapeutics by 902.0% during the 3rd quarter. Sterling Capital Management LLC now owns 2,024 shares of the company's stock valued at $51,000 after purchasing an additional 1,822 shares during the period. FNY Investment Advisers LLC increased its position in Mineralys Therapeutics by 400.0% during 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 during the period. Capstone Investment Advisors LLC bought a new position in Mineralys Therapeutics in the 2nd quarter worth $226,000. Finally, Walleye Capital LLC bought a new position in Mineralys Therapeutics in the 2nd quarter worth $271,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Mineralys Therapeutics Trading Up 0.0%

NASDAQ:MLYS opened at $20.56 on Tuesday. The company has a fifty day moving average of $25.35 and a 200 day moving average of $27.37. Mineralys Therapeutics has a 52 week low of $20.12 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 firm has a market capitalization of $1.82 billion, a P/E ratio of -4.85 and a beta of 0.69.

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

About Mineralys Therapeutics

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cardiovascular and kidney diseases associated with excess aldosterone activity. The company's research centers on selectively targeting aldosterone production, a mechanism involved in blood-pressure regulation and organ damage.

Mineralys' lead product candidate is lorundrostat, an oral, selective aldosterone synthase inhibitor being evaluated as a potential treatment for uncontrolled and resistant hypertension.

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