HC Wainwright Reiterates Buy Rating for Mineralys Therapeutics (NASDAQ:MLYS)

HC Wainwright reissued their buy rating on shares of Mineralys Therapeutics (NASDAQ:MLYS) in a research note published on Thursday morning,Benzinga reports. HC Wainwright currently has a $30.00 price objective on the stock.

Mineralys Therapeutics Price Performance

Shares of Mineralys Therapeutics stock opened at $10.20 on Thursday. Mineralys Therapeutics has a 1 year low of $8.58 and a 1 year high of $16.91. The firm has a market cap of $507.65 million, a price-to-earnings ratio of -3.12 and a beta of 1.44. The company has a 50-day moving average of $11.21 and a 200 day moving average of $12.03.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.02. On average, equities analysts anticipate that Mineralys Therapeutics will post -3.63 EPS for the current year.

Insider Buying and Selling at Mineralys Therapeutics

In other news, CEO Jon Congleton sold 18,333 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $9.06, for a total value of $166,096.98. Following the transaction, the chief executive officer now owns 877,608 shares in the company, valued at approximately $7,951,128.48. This represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Adam Scott Levy sold 10,757 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $9.10, for a total transaction of $97,888.70. Following the sale, the chief financial officer now owns 226,097 shares in the company, valued at approximately $2,057,482.70. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. 33.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in shares of Mineralys Therapeutics in the third quarter worth approximately $110,000. China Universal Asset Management Co. Ltd. boosted its holdings in Mineralys Therapeutics by 64.0% in the third 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 during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Mineralys Therapeutics in the 2nd quarter worth approximately $145,000. PDT Partners LLC purchased a new stake in Mineralys Therapeutics during the 3rd quarter valued at $148,000. Finally, EntryPoint Capital LLC bought a new position in shares of Mineralys Therapeutics during the 4th quarter valued at $154,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Company Profile

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.