HC Wainwright Issues Positive Forecast for Mineralys Therapeutics (NASDAQ:MLYS) Stock Price

Mineralys Therapeutics (NASDAQ:MLYS) had its price target raised by stock analysts at HC Wainwright from $30.00 to $42.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 203.47% from the stock’s previous close.

MLYS has been the topic of a number of other reports. The Goldman Sachs Group decreased their price objective on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Guggenheim reiterated a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, February 24th.

Mineralys Therapeutics Stock Down 12.8 %

Mineralys Therapeutics stock opened at $13.84 on Wednesday. Mineralys Therapeutics has a 12-month low of $8.24 and a 12-month high of $18.38. The stock has a 50-day simple moving average of $11.71 and a 200 day simple moving average of $12.25. The stock has a market capitalization of $868.94 million, a price-to-earnings ratio of -3.80 and a beta of 1.50.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.02. As a group, sell-side analysts anticipate that Mineralys Therapeutics will post -4.23 EPS for the current year.

Insider Buying and Selling at Mineralys Therapeutics

In other news, CEO Jon Congleton sold 18,333 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $9.06, for a total value of $166,096.98. Following the transaction, the chief executive officer now directly owns 877,608 shares in the company, valued at $7,951,128.48. This trade represents a 2.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Samsara Biocapital Gp, Llc acquired 600,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $13.50 per share, with a total value of $8,100,000.00. Following the completion of the purchase, the insider now owns 5,674,916 shares of the company’s stock, valued at $76,611,366. This trade represents a 11.82 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 33.24% of the company’s stock.

Institutional Trading of Mineralys Therapeutics

A number of hedge funds have recently modified their holdings of MLYS. China Universal Asset Management Co. Ltd. increased its stake in Mineralys Therapeutics by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company’s stock valued at $130,000 after purchasing an additional 989 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Mineralys Therapeutics by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 214,906 shares of the company’s stock valued at $2,645,000 after buying an additional 1,307 shares during the period. Northern Trust Corp increased its position in shares of Mineralys Therapeutics by 0.7% in the 4th quarter. Northern Trust Corp now owns 246,113 shares of the company’s stock valued at $3,030,000 after buying an additional 1,688 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Mineralys Therapeutics by 2.7% during the 4th quarter. Bank of New York Mellon Corp now owns 65,318 shares of the company’s stock worth $804,000 after buying an additional 1,711 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Mineralys Therapeutics by 19.1% during the fourth quarter. Wells Fargo & Company MN now owns 23,714 shares of the company’s stock worth $292,000 after acquiring an additional 3,802 shares in the last quarter. 84.46% of the stock is currently 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 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.