Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Given Average Recommendation of “Hold” by Brokerages

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) has earned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $49.3333.

A number of research analysts have weighed in on MLYS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research report on Friday, July 17th. Wall Street Zen cut Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. HC Wainwright restated a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. Zacks Research cut Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a report on Thursday, August 13th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st.

Mineralys Therapeutics Price Performance

NASDAQ:MLYS opened at $28.21 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 34.46 and a quick ratio of 34.46. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of -6.65 and a beta of 0.68. The company has a 50 day moving average price of $27.02 and a 200-day moving average price of $27.09. Mineralys Therapeutics has a 1-year low of $22.30 and a 1-year high of $47.65.

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

Insiders Place Their Bets

In other news, CEO Jon Congleton sold 75,000 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $26.14, for a total transaction of $1,960,500.00. Following the completion of the sale, the chief executive officer owned 614,321 shares of the company’s stock, valued at $16,058,350.94. The trade was a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 104,124 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $25.90, for a total transaction of $2,696,811.60. Following the transaction, the insider owned 38,400 shares of the company’s stock, valued at approximately $994,560. This trade represents a 73.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 224,333 shares of company stock worth $5,806,213. Corporate insiders own 18.94% of the company’s stock.

Institutional Investors Weigh In On Mineralys Therapeutics

Large investors have recently bought and sold shares of the company. AQR Capital Management LLC acquired a new position in shares of Mineralys Therapeutics during the first quarter valued at approximately $550,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Mineralys Therapeutics by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock worth $271,000 after acquiring an additional 702 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Mineralys Therapeutics by 166.6% during the first quarter. Goldman Sachs Group Inc. now owns 298,395 shares of the company’s stock worth $4,739,000 after purchasing an additional 186,480 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of Mineralys Therapeutics during the first quarter worth approximately $757,000. Finally, Creative Planning acquired a new position in Mineralys Therapeutics in the 2nd quarter valued at $336,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

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. The company was formerly known as Catalys SC1, Inc and changed its name to Mineralys Therapeutics, Inc in May 2020. The company was incorporated in 2019 and is headquartered in Radnor, Pennsylvania.