HC Wainwright Begins Coverage on Mineralys Therapeutics (NASDAQ:MLYS)

Equities research analysts at HC Wainwright initiated coverage on shares of Mineralys Therapeutics (NASDAQ:MLYS) in a report issued on Wednesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $30.00 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 121.08% from the company’s previous close.

A number of other brokerages have also recently commented on MLYS. The Goldman Sachs Group initiated coverage on Mineralys Therapeutics in a research report on Tuesday, April 2nd. They issued a “buy” rating and a $30.00 price target on the stock. Lifesci Capital reissued an “outperform” rating on shares of Mineralys Therapeutics in a research report on Tuesday, March 26th.

Mineralys Therapeutics Stock Up 3.6 %

Shares of MLYS opened at $13.57 on Wednesday. The business’s 50 day moving average price is $12.70 and its 200-day moving average price is $12.30. Mineralys Therapeutics has a 52 week low of $5.85 and a 52 week high of $16.91. The stock has a market cap of $673.74 million, a P/E ratio of -5.97 and a beta of 1.97.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.02). On average, equities analysts anticipate that Mineralys Therapeutics will post -2.94 EPS for the current year.

Insider Activity at Mineralys Therapeutics

In related news, CFO Adam Scott Levy sold 96,815 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $12.94, for a total value of $1,252,786.10. Following the transaction, the chief financial officer now directly owns 255,462 shares of the company’s stock, valued at approximately $3,305,678.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Jon Congleton sold 16,607 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $12.77, for a total value of $212,071.39. Following the transaction, the chief executive officer now directly owns 1,032,461 shares of the company’s stock, valued at approximately $13,184,526.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Adam Scott Levy sold 96,815 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $12.94, for a total value of $1,252,786.10. Following the completion of the transaction, the chief financial officer now directly owns 255,462 shares in the company, valued at $3,305,678.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 129,751 shares of company stock valued at $1,669,545. 33.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of Mineralys Therapeutics during the 4th quarter valued at $87,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Mineralys Therapeutics during the 4th quarter valued at $41,000. Cornercap Investment Counsel Inc. bought a new position in shares of Mineralys Therapeutics during the 4th quarter valued at $191,000. CWM LLC lifted its holdings in shares of Mineralys Therapeutics by 120.0% during the 4th quarter. CWM LLC now owns 5,891 shares of the company’s stock valued at $51,000 after buying an additional 3,213 shares during the period. Finally, CreativeOne Wealth LLC bought a new position in shares of Mineralys Therapeutics during the 4th quarter valued at $92,000. 84.46% of the stock is 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.