HC Wainwright Reiterates “Buy” Rating for Mineralys Therapeutics (NASDAQ:MLYS)

Mineralys Therapeutics (NASDAQ:MLYS)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $30.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 140.96% from the stock’s previous close.

Mineralys Therapeutics Trading Down 7.0 %

Mineralys Therapeutics stock opened at $12.45 on Tuesday. Mineralys Therapeutics has a 1-year low of $5.85 and a 1-year high of $16.91. The firm’s fifty day simple moving average is $12.98 and its 200-day simple moving average is $12.65. The company has a market capitalization of $619.14 million, a P/E ratio of -3.81 and a beta of 1.71.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Monday, November 11th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.30). During the same quarter in the prior year, the company posted ($0.57) earnings per share. On average, equities research analysts predict that Mineralys Therapeutics will post -3.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $13.57, for a total value of $145,972.49. Following the transaction, the chief financial officer now owns 236,854 shares of the company’s stock, valued at $3,214,108.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Adam Scott Levy sold 10,757 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $13.57, for a total value of $145,972.49. Following the transaction, the chief financial officer now directly owns 236,854 shares in the company, valued at approximately $3,214,108.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider David Malcom Rodman sold 25,482 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $15.03, for a total transaction of $382,994.46. Following the transaction, the insider now directly owns 135,974 shares of the company’s stock, valued at approximately $2,043,689.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,510 shares of company stock valued at $735,431 over the last 90 days. 33.24% of the stock is currently owned by company insiders.

Institutional Trading of Mineralys Therapeutics

Several hedge funds have recently added to or reduced their stakes in MLYS. RA Capital Management L.P. increased its position in Mineralys Therapeutics by 52.6% in the 1st quarter. RA Capital Management L.P. now owns 4,850,984 shares of the company’s stock worth $62,626,000 after buying an additional 1,672,508 shares during the period. SR One Capital Management LP increased its position in Mineralys Therapeutics by 12.4% during the first quarter. SR One Capital Management LP now owns 2,016,822 shares of the company’s stock worth $26,037,000 after acquiring an additional 222,222 shares during the period. Vanguard Group Inc. raised its stake in Mineralys Therapeutics by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 982,932 shares of the company’s stock valued at $12,690,000 after purchasing an additional 4,952 shares during the last quarter. American Century Companies Inc. boosted its holdings in Mineralys Therapeutics by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 743,140 shares of the company’s stock valued at $8,695,000 after purchasing an additional 23,170 shares during the period. Finally, Jennison Associates LLC grew its position in Mineralys Therapeutics by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 696,280 shares of the company’s stock worth $8,432,000 after purchasing an additional 13,023 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.