Mineralys Therapeutics' (MLYS) Buy Rating Reaffirmed at HC Wainwright

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report)'s stock had its "buy" rating reiterated by HC Wainwright in a research note issued on Tuesday,Benzinga reports. They currently have a $42.00 target price on the stock. HC Wainwright's target price would indicate a potential upside of 206.14% from the stock's previous close.

A number of other brokerages have also recently commented on MLYS. Guggenheim set a $48.00 target price on shares of Mineralys Therapeutics and gave the company a "buy" rating in a report on Wednesday, May 14th. Wall Street Zen downgraded Mineralys Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Jefferies Financial Group started coverage on Mineralys Therapeutics in a research report on Tuesday, June 10th. They set a "hold" rating and a $15.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $32.25.

Mineralys Therapeutics Stock Up 2.0%

NASDAQ:MLYS traded up $0.27 during mid-day trading on Tuesday, reaching $13.72. 595,995 shares of the stock were exchanged, compared to its average volume of 512,883. The stock has a market capitalization of $894.14 million, a P/E ratio of -3.77 and a beta of -0.17. Mineralys Therapeutics has a 1 year low of $8.24 and a 1 year high of $18.38. The company has a 50 day simple moving average of $14.77 and a 200-day simple moving average of $12.85.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.79) EPS for the quarter, beating the consensus estimate of ($1.02) by $0.23. As a group, research analysts predict that Mineralys Therapeutics will post -4.23 EPS for the current year.

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 55,771 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $15.76, for a total value of $878,950.96. Following the completion of the transaction, the insider now directly owns 116,704 shares of the company's stock, valued at approximately $1,839,255.04. This trade represents a 32.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of the business's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $12.06, for a total value of $129,729.42. Following the sale, the chief financial officer now owns 215,340 shares in the company, valued at approximately $2,597,000.40. The trade was a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,579 shares of company stock worth $1,534,353 over the last 90 days. Company insiders own 25.56% of the company's stock.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MLYS. SBI Securities Co. Ltd. lifted its holdings in Mineralys Therapeutics by 297.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company's stock valued at $25,000 after purchasing an additional 1,190 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in Mineralys Therapeutics during the fourth quarter valued at about $48,000. Quarry LP acquired a new stake in Mineralys Therapeutics during the first quarter worth about $111,000. ProShare Advisors LLC purchased a new position in shares of Mineralys Therapeutics in the 4th quarter worth about $128,000. Finally, CWM LLC lifted its stake in shares of Mineralys Therapeutics by 59.3% in the 1st quarter. CWM LLC now owns 8,342 shares of the company's stock valued at $132,000 after purchasing an additional 3,105 shares in the last quarter. 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.

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