Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $48.80.

A number of brokerages recently commented on MLYS. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Wall Street Zen cut shares of Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Finally, Zacks Research raised shares of Mineralys Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, September 11th.

Insider Buying and Selling at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 75,000 shares of the company’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $25.46, for a total transaction of $1,909,500.00. Following the sale, the chief executive officer owned 528,621 shares in the company, valued at approximately $13,458,690.66. This represents a 12.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daphne Karydas sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $28.58, for a total value of $85,740.00. Following the completion of the transaction, the director owned 6,200 shares of the company’s stock, valued at approximately $177,196. This represents a 32.61% 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. Insiders have sold a total of 206,803 shares of company stock valued at $5,661,713 in the last ninety days. Insiders own 18.94% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MLYS. Timothy G. Youngquist 2020 Irrevocable Trust acquired a new position in Mineralys Therapeutics in the 2nd quarter valued at about $2,721,000. Man Group plc bought a new position in shares of Mineralys Therapeutics during the second quarter worth approximately $1,609,000. Bank of New York Mellon Corp acquired a new stake in Mineralys Therapeutics during the 2nd quarter worth approximately $4,278,000. TimesSquare Capital Management LLC bought a new position in Mineralys Therapeutics during the 2nd quarter worth $6,363,000. Finally, Bank of America Corp DE lifted its holdings in shares of Mineralys Therapeutics by 11.5% during the first quarter. Bank of America Corp DE now owns 1,100,372 shares of the company’s stock worth $29,809,000 after buying an additional 113,092 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Mineralys Therapeutics Stock Performance

Shares of Mineralys Therapeutics stock opened at $22.38 on Friday. The stock’s fifty day simple moving average is $26.55 and its 200 day simple moving average is $26.96. The company has a current ratio of 34.46, a quick ratio of 34.46 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.98 billion, a PE ratio of -5.28 and a beta of 0.69. Mineralys Therapeutics has a 12 month low of $21.46 and a 12 month high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($2.85) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($2.30). On average, research analysts predict that Mineralys Therapeutics will post -4.45 EPS for the current year.

About Mineralys Therapeutics

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for hypertension and other cardiovascular and kidney-related conditions associated with excess aldosterone activity. The company is headquartered in Radnor, Pennsylvania.

Mineralys’ lead product candidate is lorundrostat, an oral, highly selective aldosterone synthase inhibitor designed to reduce the production of aldosterone. The company is evaluating lorundrostat as a potential treatment for uncontrolled or resistant hypertension, including hypertension linked to abnormal activation of the renin-angiotensin-aldosterone system.

Mineralys was established to advance therapies targeting aldosterone-driven disease and became a publicly traded company on the Nasdaq exchange in 2023.