Mineralys Therapeutics (NASDAQ:MLYS) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Mineralys Therapeutics (NASDAQ:MLYS) from a hold rating to a sell rating in a report issued on Saturday.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company lifted their price target on Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. HC Wainwright increased their price objective on Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Stifel Nicolaus raised their target price on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $47.43.

Mineralys Therapeutics Trading Down 0.5%

Shares of NASDAQ:MLYS opened at $26.59 on Friday. The stock has a market capitalization of $2.10 billion, a P/E ratio of -9.01 and a beta of 0.57. The stock’s 50-day moving average price is $31.33 and its 200-day moving average price is $35.07. Mineralys Therapeutics has a 12-month low of $10.19 and a 12-month high of $47.65.

Insiders Place Their Bets

In related news, CFO Adam Scott Levy sold 10,758 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $32.14, for a total transaction of $345,762.12. Following the completion of the transaction, the chief financial officer owned 8,638 shares in the company, valued at $277,625.32. This represents a 55.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David Malcom Rodman sold 14,055 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $27.44, for a total value of $385,669.20. Following the completion of the sale, the insider directly owned 44,089 shares of the company’s stock, valued at $1,209,802.16. The trade was a 24.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 340,748 shares of company stock worth $11,697,169. 25.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Simplify Asset Management Inc. bought a new position in Mineralys Therapeutics in the third quarter worth $8,294,000. Geode Capital Management LLC boosted its holdings in shares of Mineralys Therapeutics by 19.0% during the 2nd quarter. Geode Capital Management LLC now owns 954,560 shares of the company’s stock valued at $12,917,000 after buying an additional 152,560 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Mineralys Therapeutics by 29.8% in the 3rd quarter. Vanguard Group Inc. now owns 3,018,999 shares of the company’s stock worth $114,480,000 after buying an additional 692,550 shares during the period. Citigroup Inc. grew its position in shares of Mineralys Therapeutics by 501.7% in the 3rd quarter. Citigroup Inc. now owns 163,168 shares of the company’s stock worth $6,187,000 after buying an additional 136,050 shares during the period. Finally, 22NW LP increased its stake in shares of Mineralys Therapeutics by 21.4% in the 2nd quarter. 22NW LP now owns 560,042 shares of the company’s stock worth $7,577,000 after acquiring an additional 98,698 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. The company was formerly known as Catalys SC1, Inc and changed its name to Mineralys Therapeutics, Inc in May 2020. The company was incorporated in 2019 and is headquartered in Radnor, Pennsylvania.