HC Wainwright Reiterates Buy Rating for Mineralys Therapeutics (NASDAQ:MLYS)

Mineralys Therapeutics (NASDAQ:MLYS)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $30.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 109.79% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Guggenheim reiterated a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, February 24th.

Mineralys Therapeutics Trading Down 4.4 %

NASDAQ:MLYS opened at $14.30 on Monday. The company’s 50-day moving average price is $10.35 and its 200-day moving average price is $11.90. The company has a market cap of $712.65 million, a P/E ratio of -3.93 and a beta of 1.50. Mineralys Therapeutics has a twelve month low of $8.24 and a twelve month high of $18.29.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.02. On average, analysts expect that Mineralys Therapeutics will post -4.23 earnings per share for the current year.

Insider Buying and Selling at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 18,333 shares of Mineralys Therapeutics stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 877,608 shares in the company, valued at $7,951,128.48. The trade was a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $9.10, for a total transaction of $97,888.70. Following the completion of the transaction, the chief financial officer now owns 226,097 shares of the company’s stock, valued at $2,057,482.70. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 33.24% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MLYS. Polar Asset Management Partners Inc. purchased a new stake in shares of Mineralys Therapeutics during the 3rd quarter worth approximately $490,000. Jennison Associates LLC lifted its position in shares of Mineralys Therapeutics by 55.4% during the 4th quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock worth $13,319,000 after buying an additional 385,726 shares during the last quarter. Barclays PLC lifted its position in shares of Mineralys Therapeutics by 281.8% during the 3rd quarter. Barclays PLC now owns 38,218 shares of the company’s stock worth $463,000 after buying an additional 28,208 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Mineralys Therapeutics during the 3rd quarter worth approximately $775,000. Finally, State Street Corp lifted its position in shares of Mineralys Therapeutics by 4.0% during the 3rd quarter. State Street Corp now owns 483,766 shares of the company’s stock worth $5,858,000 after buying an additional 18,627 shares during the last quarter. Hedge funds and other 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.