Mineralys Therapeutics (NASDAQ:MLYS) Earns Buy Rating from HC Wainwright

Mineralys Therapeutics (NASDAQ:MLYS)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $30.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 140.96% from the company’s previous close.

Mineralys Therapeutics Stock Performance

Shares of NASDAQ:MLYS opened at $12.45 on Tuesday. The stock has a market capitalization of $619.14 million, a price-to-earnings ratio of -3.81 and a beta of 1.71. Mineralys Therapeutics has a 1-year low of $5.85 and a 1-year high of $16.91. The company has a 50 day moving average price of $12.98 and a 200 day moving average price of $12.65.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data on Monday, November 11th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.30). During the same period last year, the company earned ($0.57) earnings per share. On average, sell-side analysts expect that Mineralys Therapeutics will post -3.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 25,482 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $15.03, for a total value of $382,994.46. Following the completion of the transaction, the insider now directly owns 135,974 shares in the company, valued at $2,043,689.22. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Jon Congleton sold 15,271 shares of Mineralys Therapeutics stock in a transaction on Friday, October 11th. The stock was sold at an average price of $13.52, for a total transaction of $206,463.92. Following the transaction, the chief executive officer now owns 895,941 shares in the company, valued at approximately $12,113,122.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David Malcom Rodman sold 25,482 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $15.03, for a total value of $382,994.46. Following the completion of the sale, the insider now directly owns 135,974 shares of the company’s stock, valued at approximately $2,043,689.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,510 shares of company stock worth $735,431. Company insiders own 33.24% of the company’s stock.

Hedge Funds Weigh In On Mineralys Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Mineralys Therapeutics by 0.5% during the first quarter. Vanguard Group Inc. now owns 982,932 shares of the company’s stock worth $12,690,000 after purchasing an additional 4,952 shares during the period. Driehaus Capital Management LLC boosted its stake in shares of Mineralys Therapeutics by 40.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 257,371 shares of the company’s stock valued at $3,011,000 after buying an additional 74,074 shares during the period. Nantahala Capital Management LLC grew its holdings in shares of Mineralys Therapeutics by 60.1% during the 2nd quarter. Nantahala Capital Management LLC now owns 532,506 shares of the company’s stock valued at $6,230,000 after acquiring an additional 200,000 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Mineralys Therapeutics in the second quarter worth $145,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Mineralys Therapeutics by 72.5% during the second quarter. Bank of New York Mellon Corp now owns 84,762 shares of the company’s stock worth $992,000 after acquiring an additional 35,634 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Company Profile

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.