Mineralys Therapeutics (NASDAQ:MLYS) Given Buy Rating at HC Wainwright

Mineralys Therapeutics (NASDAQ:MLYS)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $30.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 123.05% from the company’s current price.

Mineralys Therapeutics Price Performance

MLYS stock opened at $13.45 on Thursday. Mineralys Therapeutics has a one year low of $5.85 and a one year high of $16.91. The stock has a market cap of $668.83 million, a PE ratio of -4.96 and a beta of 1.93. The firm has a 50 day simple moving average of $12.72 and a two-hundred day simple moving average of $12.51.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.10). During the same quarter in the prior year, the firm earned ($0.31) EPS. On average, research analysts expect that Mineralys Therapeutics will post -3.08 EPS for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Mineralys Therapeutics

Several institutional investors have recently added to or reduced their stakes in MLYS. PNC Financial Services Group Inc. boosted its position in Mineralys Therapeutics by 17,821.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,122 shares of the company’s stock valued at $35,000 after buying an additional 4,099 shares during the period. SG Americas Securities LLC bought a new position in Mineralys Therapeutics in the 3rd quarter worth $110,000. China Universal Asset Management Co. Ltd. raised its holdings in Mineralys Therapeutics by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock worth $116,000 after purchasing an additional 3,732 shares in the last quarter. Bellevue Group AG bought a new position in Mineralys Therapeutics in the 1st quarter worth $119,000. Finally, Federated Hermes Inc. raised its holdings in Mineralys Therapeutics by 100.0% in the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock worth $140,000 after purchasing an additional 6,000 shares in the last quarter. 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.