Mineralys Therapeutics (NASDAQ:MLYS) Stock Price Expected to Rise, HC Wainwright Analyst Says

Mineralys Therapeutics (NASDAQ:MLYS) had its price target increased by HC Wainwright from $30.00 to $42.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

MLYS has been the subject of several other research reports. Guggenheim reiterated a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th. The Goldman Sachs Group lowered their price target on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, February 13th.

Mineralys Therapeutics Stock Performance

Shares of MLYS stock opened at $12.40 on Wednesday. Mineralys Therapeutics has a fifty-two week low of $8.24 and a fifty-two week high of $18.38. The company has a 50 day moving average price of $11.90 and a 200 day moving average price of $12.28. The stock has a market capitalization of $778.53 million, a P/E ratio of -3.41 and a beta of -0.39.

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

Insiders Place Their Bets

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $9.10, for a total value of $97,888.70. Following the transaction, the chief financial officer now directly owns 226,097 shares in the company, valued at $2,057,482.70. This represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David Malcom Rodman sold 55,771 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $15.76, for a total transaction of $878,950.96. Following the sale, the insider now owns 116,704 shares of the company’s stock, valued at $1,839,255.04. This represents a 32.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,861 shares of company stock valued at $1,142,937 in the last ninety days. Insiders own 33.24% of the company’s stock.

Hedge Funds Weigh In On Mineralys Therapeutics

Large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Mineralys Therapeutics by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 213,599 shares of the company’s stock valued at $2,587,000 after purchasing an additional 9,664 shares during the last quarter. FMR LLC grew its position in Mineralys Therapeutics by 12.0% during the 3rd quarter. FMR LLC now owns 303,758 shares of the company’s stock worth $3,679,000 after purchasing an additional 32,663 shares during the last quarter. Martingale Asset Management L P acquired a new position in Mineralys Therapeutics in the third quarter valued at $181,000. Verition Fund Management LLC raised its holdings in shares of Mineralys Therapeutics by 30.6% in the third quarter. Verition Fund Management LLC now owns 27,361 shares of the company’s stock valued at $331,000 after buying an additional 6,408 shares during the last quarter. Finally, PDT Partners LLC acquired a new stake in shares of Mineralys Therapeutics during the third quarter worth about $148,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.