Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $49.3333.

Several equities research analysts have issued reports on MLYS shares. Wall Street Zen cut Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Friday, July 17th. TD Cowen initiated coverage on Mineralys Therapeutics in a report on Monday, April 27th. They set a “buy” rating for the company. Jefferies Financial Group reissued a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Finally, HC Wainwright restated a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st.

Mineralys Therapeutics Trading Down 0.0%

Mineralys Therapeutics stock opened at $27.00 on Friday. Mineralys Therapeutics has a 12-month low of $12.59 and a 12-month high of $47.65. The stock has a market cap of $2.23 billion, a P/E ratio of -13.17 and a beta of 0.66. The company has a 50-day moving average price of $27.06 and a 200 day moving average price of $28.25.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.04. As a group, analysts forecast that Mineralys Therapeutics will post -2.3 EPS for the current year.

Insider Activity at Mineralys Therapeutics

In other news, Director Daphne Karydas sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $25.00, for a total transaction of $75,000.00. Following the completion of the transaction, the director directly owned 6,200 shares in the company, valued at $155,000. This trade represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jon Congleton sold 75,000 shares of Mineralys Therapeutics stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $26.14, for a total value of $1,960,500.00. Following the completion of the sale, the chief executive officer directly owned 614,321 shares of the company’s stock, valued at $16,058,350.94. The trade was a 10.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 230,280 shares of company stock worth $6,018,442. 18.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Navalign LLC acquired a new position in shares of Mineralys Therapeutics in the fourth quarter valued at approximately $33,000. KBC Group NV purchased a new position in Mineralys Therapeutics in the 1st quarter valued at approximately $33,000. Royal Bank of Canada grew its stake in shares of Mineralys Therapeutics by 262.3% in the fourth quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock worth $56,000 after acquiring an additional 1,107 shares in the last quarter. FNY Investment Advisers LLC grew its stake in shares of Mineralys Therapeutics by 400.0% in the second quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company’s stock worth $67,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Mineralys Therapeutics by 1,845.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock worth $76,000 after acquiring an additional 1,993 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

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. The company was formerly known as Catalys SC1, Inc and changed its name to Mineralys Therapeutics, Inc in May 2020. The company was incorporated in 2019 and is headquartered in Radnor, Pennsylvania.