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

Mineralys Therapeutics (NASDAQ:MLYS)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report released on Thursday,Benzinga reports. They currently have a $30.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 182.22% from the company’s current price.

Mineralys Therapeutics Stock Up 10.0 %

Shares of NASDAQ MLYS opened at $10.63 on Thursday. The company has a market capitalization of $529.06 million, a PE ratio of -3.25 and a beta of 1.44. The stock’s 50 day moving average price is $11.25 and its 200-day moving average price is $12.04. Mineralys Therapeutics has a twelve month low of $8.58 and a twelve month high of $16.91.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.02. As a group, research analysts expect that Mineralys Therapeutics will post -3.63 EPS for the current fiscal year.

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, CEO Jon Congleton sold 18,333 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $9.06, for a total value of $166,096.98. Following the sale, the chief executive officer now directly owns 877,608 shares in the company, valued at $7,951,128.48. The trade was a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $9.10, for a total value of $97,888.70. Following the transaction, the chief financial officer now directly owns 226,097 shares in the company, valued at $2,057,482.70. This represents 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.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MLYS. The Manufacturers Life Insurance Company bought a new position in Mineralys Therapeutics during the second quarter worth about $145,000. SG Americas Securities LLC bought a new position in Mineralys Therapeutics in the 3rd quarter worth approximately $110,000. China Universal Asset Management Co. Ltd. grew its stake in Mineralys Therapeutics by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock valued at $116,000 after buying an additional 3,732 shares in the last quarter. Jennison Associates LLC raised its holdings in Mineralys Therapeutics by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 696,280 shares of the company’s stock valued at $8,432,000 after acquiring an additional 13,023 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Mineralys Therapeutics by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 213,599 shares of the company’s stock worth $2,587,000 after acquiring an additional 9,664 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

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.