Mineralys Therapeutics (NASDAQ:MLYS) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage set a "buy" rating and a $30.00 price target on the stock. The Goldman Sachs Group's target price suggests a potential upside of 138.47% from the company's previous close.

Separately, Lifesci Capital reiterated an "outperform" rating on shares of Mineralys Therapeutics in a research note on Tuesday, March 26th.

Mineralys Therapeutics Price Performance

Shares of NASDAQ MLYS traded down $0.45 during mid-day trading on Tuesday, reaching $12.58. 112,122 shares of the company's stock traded hands, compared to its average volume of 169,578. The stock has a market cap of $624.35 million, a P/E ratio of -6.29 and a beta of 2.36. The business has a 50-day simple moving average of $13.48 and a 200 day simple moving average of $10.11. Mineralys Therapeutics has a 1-year low of $5.85 and a 1-year high of $17.70.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its quarterly earnings data on Thursday, March 21st. The company reported ($0.61) earnings per share for the quarter, topping analysts' consensus estimates of ($0.85) by $0.24. Equities research analysts anticipate that Mineralys Therapeutics will post -2.44 earnings per share for the current fiscal year.

Insider Activity at Mineralys Therapeutics

In related news, major shareholder Samsara Biocapital Gp, Llc bought 555,555 shares of the business's stock in a transaction on Monday, February 12th. The shares were bought at an average price of $13.50 per share, for a total transaction of $7,499,992.50. Following the completion of the purchase, the insider now directly owns 5,074,916 shares of the company's stock, valued at $68,511,366. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Schonfeld Strategic Advisors LLC lifted its stake in Mineralys Therapeutics by 64.3% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 192,362 shares of the company's stock worth $1,829,000 after acquiring an additional 75,248 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Mineralys Therapeutics in the third quarter valued at $386,000. FMR LLC lifted its position in Mineralys Therapeutics by 62.6% during the third quarter. FMR LLC now owns 1,188,653 shares of the company's stock worth $11,304,000 after buying an additional 457,815 shares during the period. Sectoral Asset Management Inc. lifted its position in Mineralys Therapeutics by 36.8% during the third quarter. Sectoral Asset Management Inc. now owns 840,759 shares of the company's stock worth $7,996,000 after buying an additional 226,046 shares during the period. Finally, Braidwell LP increased its stake in Mineralys Therapeutics by 267.8% during the third quarter. Braidwell LP now owns 2,023,900 shares of the company's stock worth $19,247,000 after acquiring an additional 1,473,600 shares during the last quarter. 84.46% of the stock is 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 associated cardiovascular diseases. It clinical-stage product candidate is lorundrostat, a proprietary, orally administered, highly selective aldosterone synthase inhibitor for the treatment of patients with uncontrolled or resistant hypertension.