Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Given Average Recommendation of “Hold” by Analysts

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) have received a consensus rating of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $49.3333.

MLYS has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Friday, July 17th. Wall Street Zen cut shares of Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Jefferies Financial Group restated a “hold” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Finally, TD Cowen started coverage on Mineralys Therapeutics in a report on Monday, April 27th. They issued a “buy” rating for the company.

Mineralys Therapeutics Stock Up 1.3%

MLYS stock opened at $26.95 on Thursday. The firm has a market capitalization of $2.38 billion, a PE ratio of -6.36 and a beta of 0.68. The company has a quick ratio of 34.46, a current ratio of 34.46 and a debt-to-equity ratio of 0.18. Mineralys Therapeutics has a twelve month low of $14.26 and a twelve month high of $47.65. The stock’s 50 day moving average is $26.67 and its 200-day moving average is $27.37.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($2.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($2.30). Sell-side analysts expect that Mineralys Therapeutics will post -4.46 EPS for the current fiscal year.

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, insider Eric Warren sold 7,438 shares of the business’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $26.87, for a total value of $199,859.06. Following the sale, the insider directly owned 38,400 shares in the company, valued at $1,031,808. The trade was a 16.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daphne Karydas sold 3,000 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $25.00, for a total value of $75,000.00. Following the completion of the sale, the director owned 6,200 shares in the company, valued at $155,000. This represents a 32.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 216,896 shares of company stock worth $5,613,000. Company insiders own 18.94% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC bought a new stake in shares of Mineralys Therapeutics during the second quarter valued at about $22,136,577,000. Capstone Investment Advisors LLC bought a new position in shares of Mineralys Therapeutics in the second quarter valued at approximately $226,000. Artia Global Partners LP bought a new position in shares of Mineralys Therapeutics in the second quarter valued at approximately $3,718,000. Bank of America Corp DE purchased a new position in Mineralys Therapeutics during the second quarter valued at approximately $40,620,000. Finally, Man Group plc purchased a new position in Mineralys Therapeutics during the second quarter valued at approximately $1,609,000. Hedge funds and other 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. 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.