Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Mineralys Therapeutics has a consensus analyst rating of “Moderate Buy”, based on coverage from eight analysts, with an average 12-month price target of about $49.33.
• Recent analyst actions were mixed: Jefferies and Jefferies reiterated a hold, Weiss Ratings kept a sell, while HC Wainwright and TD Cowen maintained or initiated buy ratings.
• Insiders have been selling shares, including CEO Jon Congleton and insider Eric Warren, with total insider sales of 230,280 shares worth about $6.0 million over the last 90 days.

Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eight analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $49.3333.

Several equities analysts recently commented on the company. Jefferies Financial Group reiterated a "hold" rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Mineralys Therapeutics in a research report on Tuesday, April 21st. HC Wainwright restated a "buy" rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Wall Street Zen cut Mineralys Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Finally, TD Cowen initiated coverage on shares of Mineralys Therapeutics in a research report on Monday, April 27th. They issued a "buy" rating for the company.

Insider Activity at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 75,000 shares of the firm'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 transaction of $1,960,500.00. Following the transaction, the chief executive officer owned 614,321 shares of the company's stock, valued at approximately $16,058,350.94. This trade represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 104,124 shares of the business's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $25.90, for a total value of $2,696,811.60. Following the completion of the sale, the insider directly owned 38,400 shares of the company's stock, valued at $994,560. This represents a 73.06% 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. Insiders have sold 230,280 shares of company stock worth $6,018,442 over the last ninety days. Insiders own 18.94% of the company's stock.

Hedge Funds Weigh In On Mineralys Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Mineralys Therapeutics by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company's stock valued at $271,000 after buying an additional 702 shares in the last quarter. Navalign LLC acquired a new stake in shares of Mineralys Therapeutics in the 4th quarter valued at $33,000. Velan Capital Investment Management LP raised its holdings in Mineralys Therapeutics by 0.6% during the 3rd quarter. Velan Capital Investment Management LP now owns 175,600 shares of the company's stock worth $6,659,000 after purchasing an additional 1,000 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Mineralys Therapeutics by 262.3% during the fourth quarter. Royal Bank of Canada now owns 1,529 shares of the company's stock worth $56,000 after buying an additional 1,107 shares during the last quarter. Finally, KBC Group NV acquired a new position in shares of Mineralys Therapeutics in the 1st quarter valued at $33,000. Institutional investors own 84.46% of the company's stock.

Mineralys Therapeutics Trading Up 0.0%

Shares of MLYS opened at $27.09 on Friday. Mineralys Therapeutics has a 12-month low of $12.59 and a 12-month high of $47.65. The firm has a market cap of $2.23 billion, a PE ratio of -13.21 and a beta of 0.66. The company's 50 day simple moving average is $27.16 and its 200-day simple moving average is $28.56.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.04. As a group, equities research analysts forecast that Mineralys Therapeutics will post -2.3 EPS for the current fiscal year.

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.

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