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

Mineralys Therapeutics (NASDAQ:MLYS)‘s stock had its “buy” rating restated by research analysts at Guggenheim in a note issued to investors on Monday,Benzinga reports.

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

Mineralys Therapeutics Trading Down 2.7 %

MLYS stock traded down $0.26 during mid-day trading on Monday, hitting $9.31. 14,316 shares of the company were exchanged, compared to its average volume of 280,425. Mineralys Therapeutics has a 1-year low of $8.58 and a 1-year high of $16.91. The business has a 50 day simple moving average of $10.80 and a 200-day simple moving average of $11.92. The stock has a market capitalization of $463.76 million, a PE ratio of -2.55 and a beta of 1.44.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02. Equities research analysts expect that Mineralys Therapeutics will post -4.23 earnings per share for the current year.

Insider Transactions at Mineralys Therapeutics

In related news, CEO Jon Congleton sold 18,333 shares of Mineralys Therapeutics 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 sale, the chief executive officer now directly owns 877,608 shares in the company, valued at $7,951,128.48. This trade represents a 2.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Adam Scott Levy sold 10,757 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $9.10, for a total transaction of $97,888.70. Following the completion of the transaction, the chief financial officer now owns 226,097 shares of the company’s stock, valued at approximately $2,057,482.70. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 33.24% of the company’s stock.

Hedge Funds Weigh In On Mineralys Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of MLYS. SG Americas Securities LLC acquired a new stake in Mineralys Therapeutics during the third quarter worth approximately $110,000. China Universal Asset Management Co. Ltd. boosted its stake in Mineralys Therapeutics by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock worth $116,000 after acquiring an additional 3,732 shares in the last quarter. Jennison Associates LLC boosted its stake in Mineralys Therapeutics by 1.9% during the third quarter. Jennison Associates LLC now owns 696,280 shares of the company’s stock worth $8,432,000 after acquiring an additional 13,023 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Mineralys Therapeutics by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 213,599 shares of the company’s stock worth $2,587,000 after purchasing an additional 9,664 shares during the period. Finally, FMR LLC increased its stake in Mineralys Therapeutics by 12.0% in the third quarter. FMR LLC now owns 303,758 shares of the company’s stock valued at $3,679,000 after purchasing an additional 32,663 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

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.