Mineralys Therapeutics (NASDAQ:MLYS) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Mineralys Therapeutics (NASDAQ:MLYS) in a research report released on Thursday,Benzinga reports. They currently have a $30.00 price target on the stock.

Mineralys Therapeutics Price Performance

Shares of NASDAQ:MLYS opened at $10.24 on Thursday. The company has a market capitalization of $510.32 million, a P/E ratio of -3.13 and a beta of 1.44. Mineralys Therapeutics has a 1-year low of $8.58 and a 1-year high of $16.91. The firm’s 50 day simple moving average is $11.11 and its two-hundred day simple moving average is $11.99.

Mineralys Therapeutics (NASDAQ:MLYS) last released its earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02. On average, sell-side analysts anticipate that Mineralys Therapeutics will post -3.63 earnings per share for the current fiscal year.

Insider Activity at Mineralys Therapeutics

In other news, CEO Jon Congleton sold 18,333 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $9.06, for a total value of $166,096.98. Following the transaction, the chief executive officer now owns 877,608 shares of the company’s stock, valued at approximately $7,951,128.48. The trade was a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Adam Scott Levy sold 10,757 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $9.10, for a total transaction of $97,888.70. Following the transaction, the chief financial officer now directly owns 226,097 shares of the company’s stock, valued at $2,057,482.70. The trade was a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 33.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of hedge funds have recently made changes to their positions in MLYS. SG Americas Securities LLC bought a new stake in Mineralys Therapeutics in the 3rd quarter worth approximately $110,000. China Universal Asset Management Co. Ltd. increased its position in Mineralys Therapeutics by 64.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock worth $116,000 after purchasing an additional 3,732 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Mineralys Therapeutics in the second quarter worth $145,000. Price T Rowe Associates Inc. MD purchased a new stake in Mineralys Therapeutics during the fourth quarter valued at $145,000. Finally, PDT Partners LLC bought a new position in Mineralys Therapeutics during the third quarter valued at $148,000. 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.