Mineralys Therapeutics (NASDAQ:MLYS) Receives “Buy” Rating from HC Wainwright

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

Mineralys Therapeutics Stock Down 10.3 %

Shares of MLYS stock opened at $13.38 on Tuesday. Mineralys Therapeutics has a 1-year low of $5.85 and a 1-year high of $16.91. The company has a 50-day moving average of $12.95 and a two-hundred day moving average of $12.64.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data on Monday, November 11th. The company reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.30). During the same period in the previous year, the firm earned ($0.57) EPS. As a group, analysts expect that Mineralys Therapeutics will post -3.08 EPS for the current year.

Insider Activity at Mineralys Therapeutics

In related news, insider David Malcom Rodman sold 25,482 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $15.03, for a total transaction of $382,994.46. Following the completion of the transaction, the insider now directly owns 135,974 shares in the company, valued at $2,043,689.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction that occurred 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 transaction, the chief financial officer now owns 236,854 shares in the company, valued at approximately $3,214,108.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David Malcom Rodman sold 25,482 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $15.03, for a total transaction of $382,994.46. Following the sale, the insider now owns 135,974 shares in the company, valued at approximately $2,043,689.22. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,510 shares of company stock worth $735,431. 33.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

Several institutional investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. raised its stake in shares of 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 valued at $116,000 after acquiring an additional 3,732 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Mineralys Therapeutics by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 982,932 shares of the company’s stock valued at $12,690,000 after buying an additional 4,952 shares during the period. Federated Hermes Inc. grew its position in shares of Mineralys Therapeutics by 100.0% during the second quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock worth $140,000 after buying an additional 6,000 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Mineralys Therapeutics during the third quarter worth approximately $110,000. Finally, Bellevue Group AG acquired a new stake in Mineralys Therapeutics in the first quarter valued at approximately $119,000. Institutional investors and hedge funds 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.