Guggenheim Reiterates Buy Rating for Mineralys Therapeutics (NASDAQ:MLYS)

Guggenheim reissued their buy rating on shares of Mineralys Therapeutics (NASDAQ:MLYS) in a research note released on Monday morning,Benzinga reports.

Other equities analysts have also recently issued reports about the company. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Mineralys Therapeutics in a research report on Thursday, February 13th. The Goldman Sachs Group decreased their price objective on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th.

Mineralys Therapeutics Trading Up 10.5 %

MLYS stock opened at $9.68 on Monday. The firm has a 50 day moving average of $10.63 and a 200-day moving average of $11.88. Mineralys Therapeutics has a 12 month low of $8.24 and a 12 month high of $16.91. The firm has a market capitalization of $482.41 million, a P/E ratio of -2.66 and a beta of 1.44.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.02. Sell-side analysts predict that Mineralys Therapeutics will post -4.23 EPS for the current year.

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $9.10, for a total value of $97,888.70. Following the completion of the sale, the chief financial officer now owns 226,097 shares of the company’s stock, valued at $2,057,482.70. This represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jon Congleton sold 18,333 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $9.06, for a total transaction of $166,096.98. Following the transaction, the chief executive officer now 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 disclosure for this sale can be found here. 33.24% of the stock is owned by insiders.

Institutional Trading of Mineralys Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. bought a new position in shares of Mineralys Therapeutics during the third quarter valued at about $490,000. Jennison Associates LLC grew its position in Mineralys Therapeutics by 55.4% during the 4th quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock worth $13,319,000 after acquiring an additional 385,726 shares during the last quarter. Barclays PLC increased its stake in Mineralys Therapeutics by 281.8% in the 3rd quarter. Barclays PLC now owns 38,218 shares of the company’s stock worth $463,000 after purchasing an additional 28,208 shares during the period. Wellington Management Group LLP bought a new stake in Mineralys Therapeutics in the third quarter valued at approximately $775,000. Finally, State Street Corp boosted its stake in shares of Mineralys Therapeutics by 4.0% during the third quarter. State Street Corp now owns 483,766 shares of the company’s stock valued at $5,858,000 after purchasing an additional 18,627 shares during the period. 84.46% of the stock is owned by 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.