Mineralys Therapeutics (NASDAQ:MLYS) Upgraded at UBS Group

UBS Group upgraded shares of Mineralys Therapeutics (NASDAQ:MLYS) to a hold rating in a report issued on Sunday,Zacks reports.

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

Mineralys Therapeutics Price Performance

MLYS stock opened at $21.00 on Friday. The company has a 50 day simple moving average of $26.32 and a 200 day simple moving average of $26.92. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -4.95 and a beta of 0.69. Mineralys Therapeutics has a 1 year low of $20.41 and a 1 year high of $47.65. The company has a debt-to-equity ratio of 0.18, a current ratio of 34.46 and a quick ratio of 34.46.

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

Insider Buying and Selling

In related news, insider Eric Warren sold 7,438 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $26.87, for a total value of $199,859.06. Following the completion of the transaction, the insider owned 38,400 shares in the company, valued at $1,031,808. This trade represents a 16.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Rodman sold 2,170 shares of Mineralys Therapeutics stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $27.09, for a total transaction of $58,785.30. Following the sale, the insider owned 51,384 shares in the company, valued at approximately $1,391,992.56. This represents a 4.05% 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 over the last three months. Insiders own 18.94% of the company’s stock.

Hedge Funds Weigh In On Mineralys Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Mineralys Therapeutics during the second quarter valued at $158,832,000. Orbimed Advisors LLC lifted its holdings in shares of 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 purchasing an additional 1,072,500 shares during the period. Polar Capital Holdings Plc grew its stake in shares of Mineralys Therapeutics by 32.3% in the fourth quarter. Polar Capital Holdings Plc now owns 1,401,141 shares of the company’s stock worth $50,847,000 after purchasing an additional 342,365 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Mineralys Therapeutics in the second quarter worth $40,620,000. Finally, Jennison Associates LLC grew its stake in shares of Mineralys Therapeutics by 0.6% in the first quarter. Jennison Associates LLC now owns 1,266,174 shares of the company’s stock worth $34,301,000 after purchasing an additional 7,521 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Mineralys Therapeutics Company Profile

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.