Mineralys Therapeutics (NASDAQ:MLYS) Earns "Buy" Rating from HC Wainwright

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report)'s stock had its "buy" rating restated by research analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $42.00 price target on the stock. HC Wainwright's price target would indicate a potential upside of 211.57% from the stock's current price.

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

Mineralys Therapeutics Stock Down 1.8%

NASDAQ:MLYS traded down $0.25 during trading on Tuesday, reaching $13.48. The company's stock had a trading volume of 2,899,241 shares, compared to its average volume of 532,189. Mineralys Therapeutics has a 12 month low of $8.24 and a 12 month high of $18.38. The firm has a 50 day moving average of $14.84 and a 200-day moving average of $12.86.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.79) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.02) by $0.23. Analysts forecast that Mineralys Therapeutics will post -4.23 earnings per share for the current year.

Insider Transactions at Mineralys Therapeutics

In related news, CFO Adam Scott Levy sold 10,757 shares of the 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. This trade represents a 4.76% 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, CEO Jon Congleton sold 15,319 shares of Mineralys Therapeutics stock in a transaction on Friday, April 11th. The shares were sold at an average price of $12.19, for a total value of $186,738.61. Following the sale, the chief executive officer now directly owns 862,289 shares of the company's stock, valued at $10,511,302.91. This represents a 1.75% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,579 shares of company stock valued at $1,534,353. 25.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. lifted its holdings in shares of Mineralys Therapeutics by 297.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company's stock worth $25,000 after acquiring an additional 1,190 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Mineralys Therapeutics in the 4th quarter worth approximately $48,000. Quarry LP purchased a new stake in Mineralys Therapeutics in the first quarter worth approximately $111,000. ProShare Advisors LLC bought a new position in Mineralys Therapeutics during the fourth quarter valued at approximately $128,000. Finally, CWM LLC grew its position in Mineralys Therapeutics by 59.3% during the first quarter. CWM LLC now owns 8,342 shares of the company's stock valued at $132,000 after acquiring an additional 3,105 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

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.