Mineralys Therapeutics (NASDAQ:MLYS) Stock Rating Upgraded by Wall Street Zen

Mineralys Therapeutics (NASDAQ:MLYS) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Other research analysts also recently issued research reports about the company. Guggenheim set a $48.00 target price on Mineralys Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, May 14th. HC Wainwright restated a “buy” rating and issued a $42.00 target price on shares of Mineralys Therapeutics in a research note on Tuesday, May 13th. Finally, The Goldman Sachs Group cut their target price on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, February 13th.

Mineralys Therapeutics Stock Performance

Shares of MLYS opened at $15.96 on Thursday. The business has a 50-day moving average of $14.49 and a 200 day moving average of $12.57. Mineralys Therapeutics has a fifty-two week low of $8.24 and a fifty-two week high of $18.38. The firm has a market cap of $1.04 billion, a P/E ratio of -4.38 and a beta of -0.30.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its earnings results on Monday, May 12th. The company reported ($0.79) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.23. As a group, research analysts predict that Mineralys Therapeutics will post -4.23 earnings per share for the current fiscal year.

Insider Activity

In other Mineralys Therapeutics news, major shareholder Samsara Biocapital Gp, Llc purchased 600,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $13.50 per share, for a total transaction of $8,100,000.00. Following the transaction, the insider now owns 5,674,916 shares in the company, valued at $76,611,366. The trade was a 11.82% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $12.06, for a total value of $129,729.42. Following the completion of the sale, the chief financial officer now owns 215,340 shares of the company’s stock, valued at $2,597,000.40. The trade was a 4.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 104,579 shares of company stock worth $1,534,353. 25.56% of the stock is currently owned by insiders.

Institutional Trading of Mineralys Therapeutics

A number of hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Mineralys Therapeutics by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,085 shares of the company’s stock worth $271,000 after buying an additional 702 shares during the last quarter. AlphaQuest LLC lifted its position in Mineralys Therapeutics by 4.6% in the 1st quarter. AlphaQuest LLC now owns 15,925 shares of the company’s stock worth $253,000 after buying an additional 703 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Mineralys Therapeutics by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company’s stock worth $130,000 after buying an additional 989 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in Mineralys Therapeutics by 297.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company’s stock worth $25,000 after buying an additional 1,190 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Mineralys Therapeutics by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 214,906 shares of the company’s stock worth $2,645,000 after buying an additional 1,307 shares during the last quarter. 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.