Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analyst consensus: Eight analysts rate Mineralys a “Moderate Buy” (6 buys, 1 hold, 1 sell) with an average 1‑year price target of $49.14.
• Earnings update: Mineralys reported Q (EPS) of ($0.40), beating estimates of ($0.57) by $0.17, while sell‑side analysts project roughly -4.23 EPS for the current year.
• Insider and institutional activity: Insiders sold 176,403 shares (~$5.01M) in the last 90 days (insiders own 25.56%), and institutional ownership is reported at 84.46%.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eight analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $49.1429.

A number of research analysts recently weighed in on the stock. Stifel Nicolaus raised their target price on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the company a "buy" rating in a report on Friday, December 19th. Jefferies Financial Group reissued a "hold" rating and issued a $30.00 target price on shares of Mineralys Therapeutics in a report on Friday, March 13th. HC Wainwright set a $56.00 target price on shares of Mineralys Therapeutics and gave the company a "buy" rating in a report on Tuesday, March 10th. Wall Street Zen raised shares of Mineralys Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, March 15th. Finally, Bank of America raised their target price on shares of Mineralys Therapeutics from $46.00 to $51.00 and gave the company a "buy" rating in a report on Friday, March 13th.

Mineralys Therapeutics Price Performance

Shares of MLYS opened at $27.17 on Friday. Mineralys Therapeutics has a 1 year low of $11.48 and a 1 year high of $47.65. The company has a 50 day simple moving average of $27.51 and a two-hundred day simple moving average of $34.69. The firm has a market cap of $2.24 billion, a P/E ratio of -11.46 and a beta of 0.69.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.57) by $0.17. On average, sell-side analysts anticipate that Mineralys Therapeutics will post -4.23 earnings per share for the current year.

Insider Buying and Selling at Mineralys Therapeutics

In related news, CFO Adam Scott Levy sold 10,758 shares of the firm's stock in a transaction on Monday, January 12th. The shares were sold at an average price of $32.14, for a total value of $345,762.12. Following the completion of the transaction, the chief financial officer directly owned 8,638 shares of the company's stock, valued at approximately $277,625.32. This trade represents a 55.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Malcom Rodman sold 14,058 shares of the firm's stock in a transaction on Friday, March 13th. The stock was sold at an average price of $26.26, for a total value of $369,163.08. Following the completion of the sale, the insider owned 76,140 shares of the company's stock, valued at approximately $1,999,436.40. This represents a 15.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 176,403 shares of company stock valued at $5,010,294. 25.56% of the stock is owned by company insiders.

Institutional Trading of Mineralys Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd lifted its position in Mineralys Therapeutics by 3,439.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,823 shares of the company's stock worth $139,000 after buying an additional 3,715 shares during the last quarter. Seven Fleet Capital Management LP bought a new stake in Mineralys Therapeutics in the fourth quarter worth $553,000. XTX Topco Ltd lifted its position in Mineralys Therapeutics by 291.1% in the fourth quarter. XTX Topco Ltd now owns 73,678 shares of the company's stock worth $2,674,000 after buying an additional 54,838 shares during the last quarter. Ikarian Capital LLC bought a new stake in shares of Mineralys Therapeutics during the fourth quarter worth $7,258,000. Finally, Sphera Funds Management LTD. boosted its stake in shares of Mineralys Therapeutics by 104.2% during the fourth quarter. Sphera Funds Management LTD. now owns 449,003 shares of the company's stock valued at $16,294,000 after purchasing an additional 229,093 shares during the period. 84.46% of the stock is currently owned by institutional investors.

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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.