Mineralys Therapeutics (NASDAQ:MLYS) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Mineralys Therapeutics (NASDAQ:MLYS) in a research note published on Thursday morning, Benzinga reports. The firm currently has a $30.00 target price on the stock.

Mineralys Therapeutics Stock Up 0.5 %

Shares of NASDAQ:MLYS opened at $13.45 on Thursday. The firm’s 50 day moving average price is $12.72 and its 200-day moving average price is $12.51. Mineralys Therapeutics has a twelve month low of $5.85 and a twelve month high of $16.91. The stock has a market capitalization of $668.87 million, a PE ratio of -4.96 and a beta of 1.71.

Mineralys Therapeutics (NASDAQ:MLYS) last released its earnings results on Tuesday, August 13th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.10). During the same period in the prior year, the firm earned ($0.31) EPS. Analysts expect that Mineralys Therapeutics will post -3.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jon Congleton sold 15,271 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $13.52, for a total value of $206,463.92. Following the completion of the sale, the chief executive officer now directly owns 895,941 shares of the company’s stock, valued at approximately $12,113,122.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Adam Scott Levy sold 10,757 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $13.57, for a total transaction of $145,972.49. Following the completion of the transaction, the chief financial officer now directly owns 236,854 shares in the company, valued at approximately $3,214,108.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jon Congleton sold 15,271 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $13.52, for a total value of $206,463.92. Following the transaction, the chief executive officer now owns 895,941 shares of the company’s stock, valued at $12,113,122.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 33.24% of the stock is currently owned by insiders.

Institutional Trading of Mineralys Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. RA Capital Management L.P. lifted its position in Mineralys Therapeutics by 52.6% in the first quarter. RA Capital Management L.P. now owns 4,850,984 shares of the company’s stock worth $62,626,000 after buying an additional 1,672,508 shares during the last quarter. SR One Capital Management LP lifted its position in shares of Mineralys Therapeutics by 12.4% during the first quarter. SR One Capital Management LP now owns 2,016,822 shares of the company’s stock worth $26,037,000 after purchasing an additional 222,222 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Mineralys Therapeutics by 0.5% during the first quarter. Vanguard Group Inc. now owns 982,932 shares of the company’s stock worth $12,690,000 after purchasing an additional 4,952 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Mineralys Therapeutics by 3.2% during the second quarter. American Century Companies Inc. now owns 743,140 shares of the company’s stock worth $8,695,000 after purchasing an additional 23,170 shares during the last quarter. Finally, Nantahala Capital Management LLC lifted its position in shares of Mineralys Therapeutics by 60.1% during the second quarter. Nantahala Capital Management LLC now owns 532,506 shares of the company’s stock worth $6,230,000 after purchasing an additional 200,000 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

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.