Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Stock Has Average Price Target of $45.50

Mineralys Therapeutics, Inc. (NASDAQ:MLYS) has received a consensus recommendation of “Hold” from the nine research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $45.50.

A number of research analysts have recently issued reports on MLYS shares. Wall Street Zen downgraded Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Thursday, October 15th. UBS Group began coverage on Mineralys Therapeutics in a research report on Sunday, October 11th. They set a “neutral” rating and a $29.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $56.00 target price on shares of Mineralys Therapeutics in a report on Monday, October 12th. Finally, Zacks Research upgraded shares of Mineralys Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, September 11th.

Insider Buying and Selling at Mineralys Therapeutics

In other news, Director Daphne Karydas sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $28.58, for a total value of $85,740.00. Following the completion of the sale, the director owned 6,200 shares of the company’s stock, valued at $177,196. This trade represents a 32.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 7,438 shares of the business’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $28.12, for a total value of $209,156.56. Following the transaction, the insider owned 38,400 shares in the company, valued at approximately $1,079,808. This trade represents a 16.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 199,365 shares of company stock valued at $5,461,854. Corporate insiders own 18.94% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MLYS. Timothy G. Youngquist 2020 Irrevocable Trust acquired a new stake in shares of Mineralys Therapeutics during the 2nd quarter worth approximately $2,721,000. Man Group plc purchased a new position in shares of Mineralys Therapeutics during the 2nd quarter valued at approximately $1,609,000. TimesSquare Capital Management LLC purchased a new position in shares of Mineralys Therapeutics during the 2nd quarter valued at approximately $6,363,000. Bank of New York Mellon Corp acquired a new position in shares of Mineralys Therapeutics in the 2nd quarter valued at $4,278,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Mineralys Therapeutics in the 2nd quarter valued at $912,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Mineralys Therapeutics Price Performance

NASDAQ:MLYS opened at $15.55 on Tuesday. Mineralys Therapeutics has a 1-year low of $15.42 and a 1-year high of $47.65. The company has a 50-day moving average of $24.57 and a 200 day moving average of $26.94. The company has a quick ratio of 34.46, a current ratio of 34.46 and a debt-to-equity ratio of 0.18.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Wednesday, August 12th. The company reported ($2.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($2.30). Research analysts anticipate that Mineralys Therapeutics will post -4.45 EPS for the current fiscal year.

About Mineralys Therapeutics

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cardiovascular and kidney diseases associated with excess aldosterone activity. The company’s research centers on selectively targeting aldosterone production, a mechanism involved in blood-pressure regulation and organ damage.

Mineralys’ lead product candidate is lorundrostat, an oral, selective aldosterone synthase inhibitor being evaluated as a potential treatment for uncontrolled and resistant hypertension.