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

Key Points

• Wall Street Zen downgraded Mineralys Therapeutics from hold to sell, adding to a mixed analyst backdrop that still includes several buy ratings and a consensus Moderate Buy target of $49.14.
• The company reported a smaller-than-expected loss in its latest quarter, posting EPS of ($0.47) versus the expected ($0.51), while analysts still forecast a full-year loss of -2.23 EPS.
• Recent trading activity showed insider selling, including sales by the CEO and another insider, even as institutional ownership remains high at 84.46%.

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

A number of other brokerages have also commented on MLYS. Weiss Ratings reiterated a "sell (d-)" rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. HC Wainwright set a $56.00 price target on Mineralys Therapeutics and gave the stock a "buy" rating in a report on Tuesday, March 10th. Bank of America upped their price target on Mineralys Therapeutics from $46.00 to $51.00 and gave the stock a "buy" rating in a report on Friday, March 13th. TD Cowen began coverage on Mineralys Therapeutics in a report on Monday, April 27th. They set a "buy" rating for the company. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $30.00 price target on shares of Mineralys Therapeutics in a report on Friday, March 13th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Mineralys Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $49.14.

Mineralys Therapeutics Stock Performance

MLYS opened at $29.54 on Friday. The business has a 50 day moving average price of $27.15 and a 200 day moving average price of $33.14. Mineralys Therapeutics has a twelve month low of $12.59 and a twelve month high of $47.65. The firm has a market cap of $2.44 billion, a P/E ratio of -14.41 and a beta of 0.49.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.47) EPS for the quarter, topping analysts' consensus estimates of ($0.51) by $0.04. As a group, analysts anticipate that Mineralys Therapeutics will post -2.23 earnings per share for the current fiscal year.

Insider Transactions at Mineralys Therapeutics

In related news, insider David Malcom Rodman sold 14,058 shares of the company's stock in a transaction on Monday, April 13th. The stock was sold at an average price of $26.54, for a total value of $373,099.32. Following the completion of the transaction, the insider directly owned 76,140 shares in the company, valued at approximately $2,020,755.60. This represents a 15.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jon Congleton sold 75,000 shares of the company's stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $26.27, for a total value of $1,970,250.00. Following the completion of the transaction, the chief executive officer owned 705,051 shares of the company's stock, valued at $18,521,689.77. The trade was a 9.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 162,291 shares of company stock valued at $4,336,414. Company insiders own 18.94% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MLYS. AQR Capital Management LLC acquired a new position in Mineralys Therapeutics during the first quarter worth $550,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Mineralys Therapeutics by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company's stock worth $271,000 after acquiring an additional 702 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Mineralys Therapeutics by 166.6% during the first quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company's stock worth $4,739,000 after acquiring an additional 186,480 shares in the last quarter. Woodline Partners LP acquired a new position in Mineralys Therapeutics during the first quarter worth $757,000. Finally, Creative Planning acquired a new position in Mineralys Therapeutics during the second quarter worth $336,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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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