Mineralys Therapeutics’ (MLYS) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Mineralys Therapeutics (NASDAQ:MLYS) in a report released on Tuesday,Benzinga reports. HC Wainwright currently has a $30.00 price target on the stock. HC Wainwright also issued estimates for Mineralys Therapeutics’ Q4 2024 earnings at ($1.14) EPS, FY2024 earnings at ($3.83) EPS, FY2025 earnings at ($4.10) EPS, FY2026 earnings at ($3.41) EPS, FY2027 earnings at ($3.54) EPS and FY2028 earnings at ($1.85) EPS.

Mineralys Therapeutics Trading Down 5.7 %

NASDAQ MLYS opened at $11.48 on Tuesday. Mineralys Therapeutics has a 1-year low of $5.85 and a 1-year high of $16.91. The stock’s 50 day moving average is $12.99 and its two-hundred day moving average is $12.65. The company has a market capitalization of $571.36 million, a price-to-earnings ratio of -3.62 and a beta of 1.71.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data on Monday, November 11th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.30). During the same period in the previous year, the business posted ($0.57) earnings per share. On average, analysts predict that Mineralys Therapeutics will post -3.5 earnings per share for the current year.

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, CEO Jon Congleton sold 15,271 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $13.52, for a total transaction of $206,463.92. Following the sale, the chief executive officer now owns 895,941 shares of the company’s stock, valued at $12,113,122.32. This represents a 1.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David Malcom Rodman sold 25,482 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $15.03, for a total transaction of $382,994.46. Following the completion of the sale, the insider now directly owns 135,974 shares of the company’s stock, valued at approximately $2,043,689.22. This represents a 15.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,510 shares of company stock valued at $735,431 in the last three months. Corporate insiders own 33.24% of the company’s stock.

Institutional Trading of Mineralys Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake in Mineralys Therapeutics by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 620,853 shares of the company’s stock worth $7,520,000 after acquiring an additional 38,527 shares during the last quarter. Barclays PLC boosted its position in shares of Mineralys Therapeutics by 281.8% during the third quarter. Barclays PLC now owns 38,218 shares of the company’s stock worth $463,000 after purchasing an additional 28,208 shares in the last quarter. Wellington Management Group LLP bought a new position in Mineralys Therapeutics during the third quarter worth about $775,000. State Street Corp grew its stake in Mineralys Therapeutics by 4.0% in the third quarter. State Street Corp now owns 483,766 shares of the company’s stock valued at $5,858,000 after acquiring an additional 18,627 shares during the period. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Mineralys Therapeutics in the third quarter worth about $490,000. Institutional investors 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.