Mineralys Therapeutics’ (MLYS) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Mineralys Therapeutics (NASDAQ:MLYS) in a research report released on Thursday,Benzinga reports. HC Wainwright currently has a $30.00 price objective on the stock.

Mineralys Therapeutics Stock Up 0.4 %

NASDAQ:MLYS opened at $10.24 on Thursday. The stock has a market cap of $510.32 million, a price-to-earnings ratio of -3.13 and a beta of 1.44. The company’s 50 day moving average price is $11.11 and its 200-day moving average price is $11.99. Mineralys Therapeutics has a 52 week low of $8.58 and a 52 week high of $16.91.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its earnings results on Wednesday, February 12th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.02. As a group, sell-side analysts anticipate that Mineralys Therapeutics will post -3.63 earnings per share for the current year.

Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, CEO Jon Congleton sold 18,333 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 877,608 shares in the company, valued at approximately $7,951,128.48. The trade was a 2.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Adam Scott Levy sold 10,757 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $9.10, for a total value of $97,888.70. Following the completion of the transaction, the chief financial officer now owns 226,097 shares in the company, 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.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Mineralys Therapeutics during the 3rd quarter valued at about $110,000. China Universal Asset Management Co. Ltd. grew its position 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 valued at $116,000 after buying an additional 3,732 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in Mineralys Therapeutics during the second quarter valued at approximately $145,000. Price T Rowe Associates Inc. MD bought a new position in Mineralys Therapeutics in the fourth quarter worth approximately $145,000. Finally, PDT Partners LLC purchased a new position in shares of Mineralys Therapeutics during the 3rd quarter worth $148,000. Institutional investors 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.