Mineralys Therapeutics (NASDAQ:MLYS) Stock Rating Lowered by Wall Street Zen

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

A number of other brokerages have also recently issued reports on MLYS. Guggenheim set a $48.00 price objective on Mineralys Therapeutics and gave the company a "buy" rating in a research note on Wednesday, May 14th. Jefferies Financial Group began coverage on Mineralys Therapeutics in a research note on Tuesday. They set a "hold" rating and a $15.00 price objective on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and set a $42.00 price objective on shares of Mineralys Therapeutics in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Mineralys Therapeutics presently has a consensus rating of "Hold" and a consensus price target of $32.25.

Mineralys Therapeutics Stock Performance

MLYS traded down $0.60 during trading on Friday, reaching $14.32. The stock had a trading volume of 589,118 shares, compared to its average volume of 508,621. The stock has a market cap of $933.31 million, a PE ratio of -3.93 and a beta of -0.17. Mineralys Therapeutics has a one year low of $8.24 and a one year high of $18.38. The business has a 50-day moving average of $14.74 and a 200-day moving average of $12.85.

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

Insider Transactions at Mineralys Therapeutics

In other news, insider David Malcom Rodman sold 11,366 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $15.29, for a total transaction of $173,786.14. Following the completion of the sale, the insider now directly owns 106,669 shares in the company, valued at approximately $1,630,969.01. This represents a 9.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jon Congleton sold 15,319 shares of the stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $12.19, for a total transaction of $186,738.61. Following the sale, the chief executive officer now owns 862,289 shares of the company's stock, valued at approximately $10,511,302.91. This represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,579 shares of company stock worth $1,534,353. Company insiders own 25.56% of the company's stock.

Institutional Trading of Mineralys Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. lifted its holdings in Mineralys Therapeutics by 297.5% in the first quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company's stock worth $25,000 after buying an additional 1,190 shares during the period. BNP Paribas Financial Markets purchased a new stake in Mineralys Therapeutics in the fourth quarter worth about $48,000. Quarry LP bought a new position in shares of Mineralys Therapeutics during the first quarter valued at approximately $111,000. ProShare Advisors LLC purchased a new position in shares of Mineralys Therapeutics during the fourth quarter valued at approximately $128,000. Finally, CWM LLC lifted its holdings in shares of 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 purchasing an additional 3,105 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other 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.