UBS Group Upgrades Mineralys Therapeutics (NASDAQ:MLYS) to Hold

Mineralys Therapeutics (NASDAQ:MLYS) was upgraded by research analysts at UBS Group to a “hold” rating in a report released on Sunday, Zacks reports.

MLYS has been the subject of several other research reports. HC Wainwright reaffirmed a “buy” rating and set a $56.00 price target on shares of Mineralys Therapeutics in a report on Monday. Zacks Research raised shares of Mineralys Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Friday, September 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Friday, July 17th. Finally, Wall Street Zen downgraded shares of Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $45.50.

Mineralys Therapeutics Price Performance

NASDAQ:MLYS opened at $21.00 on Friday. The company has a quick ratio of 34.46, a current ratio of 34.46 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average price is $26.32 and its two-hundred day moving average price is $26.92. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -4.95 and a beta of 0.69. Mineralys Therapeutics has a 12-month low of $20.41 and a 12-month high of $47.65.

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

Insider Buying and Selling

In other news, insider Eric Warren sold 7,438 shares of the business’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $28.12, for a total value of $209,156.56. Following the completion of the sale, the insider owned 38,400 shares of the company’s stock, valued at approximately $1,079,808. The trade was a 16.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jon Congleton sold 75,000 shares of the company’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $25.46, for a total transaction of $1,909,500.00. Following the completion of the transaction, the chief executive officer owned 528,621 shares in the company, valued at $13,458,690.66. This trade represents a 12.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 90 days. 18.94% of the stock is currently owned by corporate insiders.

Institutional Trading of Mineralys Therapeutics

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Mineralys Therapeutics in the second quarter valued at approximately $158,832,000. Orbimed Advisors LLC grew its position in Mineralys Therapeutics by 109.4% during the first quarter. Orbimed Advisors LLC now owns 2,052,900 shares of the company’s stock worth $55,613,000 after buying an additional 1,072,500 shares in the last quarter. Polar Capital Holdings Plc grew its position in Mineralys Therapeutics by 32.3% during the fourth quarter. Polar Capital Holdings Plc now owns 1,401,141 shares of the company’s stock worth $50,847,000 after buying an additional 342,365 shares in the last quarter. Bank of America Corp DE bought a new position in Mineralys Therapeutics during the 2nd quarter worth $40,620,000. Finally, Jennison Associates LLC increased its stake in Mineralys Therapeutics by 0.6% during the 1st quarter. Jennison Associates LLC now owns 1,266,174 shares of the company’s stock worth $34,301,000 after acquiring an additional 7,521 shares during the period. Institutional investors own 84.46% of the company’s stock.

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.