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

HC Wainwright reissued their buy rating on shares of Mineralys Therapeutics (NASDAQ:MLYS) in a report published on Thursday morning, Benzinga reports. The firm currently has a $30.00 price objective on the stock.

Mineralys Therapeutics Stock Performance

Shares of Mineralys Therapeutics stock opened at $13.45 on Thursday. The business’s 50 day moving average price is $12.72 and its 200 day moving average price is $12.52. The company has a market cap of $668.87 million, a price-to-earnings ratio of -4.96 and a beta of 1.71. Mineralys Therapeutics has a one year low of $5.85 and a one year high of $16.91.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its earnings results on Tuesday, August 13th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.10). During the same period last year, the business earned ($0.31) earnings per share. On average, analysts predict that Mineralys Therapeutics will post -3.08 EPS for the current fiscal year.

Insider Buying and Selling at Mineralys Therapeutics

In other news, CFO Adam Scott Levy sold 10,757 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $13.57, for a total transaction of $145,972.49. Following the completion of the sale, the chief financial officer now owns 236,854 shares in the company, valued at $3,214,108.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Adam Scott Levy sold 10,757 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $13.57, for a total transaction of $145,972.49. Following the completion of the sale, the chief financial officer now directly owns 236,854 shares of the company’s stock, valued at approximately $3,214,108.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jon Congleton sold 15,271 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $13.52, for a total transaction of $206,463.92. Following the completion of the transaction, the chief executive officer now directly owns 895,941 shares in the company, valued at $12,113,122.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 33.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of hedge funds have recently made changes to their positions in MLYS. China Universal Asset Management Co. Ltd. raised its position in Mineralys Therapeutics by 64.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock valued at $116,000 after purchasing an additional 3,732 shares during the period. SG Americas Securities LLC purchased a new position in shares of Mineralys Therapeutics during the third quarter worth $110,000. Nantahala Capital Management LLC grew its stake in shares of Mineralys Therapeutics by 60.1% in the second quarter. Nantahala Capital Management LLC now owns 532,506 shares of the company’s stock valued at $6,230,000 after buying an additional 200,000 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Mineralys Therapeutics by 40.4% in 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. Finally, Lion Point Capital LP lifted its stake in Mineralys Therapeutics by 31.7% during the 2nd quarter. Lion Point Capital LP now owns 79,000 shares of the company’s stock worth $924,000 after acquiring an additional 19,000 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.