Mineralys Therapeutics (NASDAQ:MLYS) Cut to "Sell" at Wall Street Zen

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Several other brokerages have also commented on MLYS. Jefferies Financial Group started coverage on Mineralys Therapeutics in a report on Tuesday, June 10th. They issued a "hold" rating and a $15.00 price objective for the company. HC Wainwright restated a "buy" rating and set a $42.00 price target on shares of Mineralys Therapeutics in a research note on Tuesday, May 13th. Finally, Guggenheim set a $48.00 price objective on shares of Mineralys Therapeutics and gave the stock a "buy" rating in a report on Wednesday, May 14th. One 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $32.25.

Mineralys Therapeutics Stock Up 2.5%

MLYS traded up $0.33 during midday trading on Friday, hitting $13.78. 1,388,480 shares of the company traded hands, compared to its average volume of 517,391. The company's 50-day moving average is $14.79 and its 200 day moving average is $12.86. The firm has a market capitalization of $898.18 million, a PE ratio of -3.69 and a beta of -0.17. Mineralys Therapeutics has a 52 week low of $8.24 and a 52 week high of $18.38.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.79) earnings per share for the quarter, beating analysts' consensus estimates of ($1.02) by $0.23. On average, sell-side analysts predict that Mineralys Therapeutics will post -4.23 earnings per share for the current fiscal year.

Insider Transactions at Mineralys Therapeutics

In other Mineralys Therapeutics news, CEO Jon Congleton sold 15,319 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $12.19, for a total value of $186,738.61. Following the completion of the sale, the chief executive officer now owns 862,289 shares in the company, valued at approximately $10,511,302.91. This represents a 1.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David Malcom Rodman sold 55,771 shares of the business's 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 owns 116,704 shares in the company, valued at $1,839,255.04. The trade was a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,579 shares of company stock valued at $1,534,353 over the last quarter. 33.24% of the stock is currently owned by company insiders.

Institutional Trading of Mineralys Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its holdings in Mineralys Therapeutics by 2.7% during the 4th quarter. Bank of New York Mellon Corp now owns 65,318 shares of the company's stock valued at $804,000 after buying an additional 1,711 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Mineralys Therapeutics during the fourth quarter valued at $285,000. Charles Schwab Investment Management Inc. increased its holdings in Mineralys Therapeutics by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 214,906 shares of the company's stock valued at $2,645,000 after acquiring an additional 1,307 shares during the last quarter. Candriam S.C.A. purchased a new stake in Mineralys Therapeutics in the 4th quarter worth $3,758,000. Finally, AlphaQuest LLC boosted its holdings in shares of Mineralys Therapeutics by 2,637.8% during the 4th quarter. AlphaQuest LLC now owns 15,222 shares of the company's stock valued at $187,000 after purchasing an additional 14,666 shares during the last quarter. Institutional investors own 84.46% of the company's stock.

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.