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

Key Points

• Moderate Buy consensus from nine analysts (7 buys, 1 hold, 1 sell) with an average 12‑month price target of $49.14.
• Notable insider and institutional activity: Ra Capital Management purchased 310,700 shares at $23.67 boosting its stake, while insider David Rodman sold 6,348 shares; insiders own 18.94% and institutions own 84.46% of the company.
• The stock opened at $29.65 with a $2.44B market cap and a negative P/E of -12.51; Mineralys reported Q1 EPS of -$0.40 (beating estimates by $0.17) and analysts forecast -2.23 EPS for the year.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the nine analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $49.1429.

A number of equities research analysts have weighed in on MLYS shares. Wall Street Zen upgraded Mineralys Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, March 15th. HC Wainwright set a $56.00 target price on Mineralys Therapeutics and gave the stock a "buy" rating in a report on Tuesday, March 10th. Jefferies Financial Group reiterated a "hold" rating and issued a $30.00 target price on shares of Mineralys Therapeutics in a report on Friday, March 13th. TD Cowen started coverage on Mineralys Therapeutics in a report on Monday, April 27th. They issued a "buy" rating for the company. Finally, Bank of America lifted their target price on Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a "buy" rating in a report on Friday, March 13th.

Insider Transactions at Mineralys Therapeutics

In other news, insider David Malcom Rodman sold 6,348 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $27.66, for a total transaction of $175,585.68. Following the completion of the sale, the insider owned 69,792 shares in the company, valued at $1,930,446.72. The trade was a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ra Capital Management, L.P. acquired 310,700 shares of the firm's stock in a transaction dated Friday, March 27th. The shares were purchased at an average price of $23.67 per share, with a total value of $7,354,269.00. Following the acquisition, the director owned 5,767,221 shares of the company's stock, valued at approximately $136,510,121.07. This represents a 5.69% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have sold 162,291 shares of company stock worth $4,336,414. Insiders own 18.94% of the company's stock.

Institutional Investors Weigh In On Mineralys Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Hudson Bay Capital Management LP bought a new stake in shares of Mineralys Therapeutics during the third quarter valued at approximately $2,873,000. SG Americas Securities LLC increased its holdings in shares of Mineralys Therapeutics by 130.7% during the fourth quarter. SG Americas Securities LLC now owns 230,795 shares of the company's stock valued at $8,376,000 after acquiring an additional 130,758 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Mineralys Therapeutics by 29.8% during the third quarter. Vanguard Group Inc. now owns 3,018,999 shares of the company's stock valued at $114,480,000 after acquiring an additional 692,550 shares in the last quarter. Citigroup Inc. grew its holdings in Mineralys Therapeutics by 501.7% during the third quarter. Citigroup Inc. now owns 163,168 shares of the company's stock worth $6,187,000 after buying an additional 136,050 shares in the last quarter. Finally, Farallon Capital Management LLC bought a new stake in Mineralys Therapeutics during the third quarter worth $63,442,000. Institutional investors own 84.46% of the company's stock.

Mineralys Therapeutics Stock Performance

Shares of MLYS stock opened at $29.65 on Tuesday. The company has a market cap of $2.44 billion, a P/E ratio of -12.51 and a beta of 0.49. The stock has a 50 day simple moving average of $27.11 and a two-hundred day simple moving average of $33.43. Mineralys Therapeutics has a fifty-two week low of $12.59 and a fifty-two week high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its earnings results on Thursday, March 12th. The company reported ($0.40) earnings per share for the quarter, topping analysts' consensus estimates of ($0.57) by $0.17. On average, research analysts predict that Mineralys Therapeutics will post -2.23 earnings per share for the current year.

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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