Mineralys Therapeutics (NASDAQ:MLYS) Given “Buy” Rating at HC Wainwright

Mineralys Therapeutics (NASDAQ:MLYS)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $30.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 101.07% from the stock’s current price.

Mineralys Therapeutics Price Performance

Shares of NASDAQ:MLYS opened at $14.92 on Tuesday. Mineralys Therapeutics has a 1 year low of $5.85 and a 1 year high of $16.91. The company has a market cap of $741.97 million, a P/E ratio of -5.51 and a beta of 1.71. The stock’s fifty day moving average price is $12.95 and its 200-day moving average price is $12.64.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its earnings results on Tuesday, August 13th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.10). During the same quarter last year, the company posted ($0.31) EPS. On average, sell-side analysts anticipate that Mineralys Therapeutics will post -3.08 earnings per share for the current year.

Insider Buying and Selling

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of the business’s stock in a transaction 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 directly owns 236,854 shares in the company, valued at approximately $3,214,108.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Adam Scott Levy sold 10,757 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $13.57, for a total value of $145,972.49. Following the transaction, the chief financial officer now owns 236,854 shares in the company, valued at $3,214,108.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jon Congleton sold 15,271 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $13.52, for a total transaction of $206,463.92. Following the sale, the chief executive officer now owns 895,941 shares of the company’s stock, valued at $12,113,122.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,510 shares of company stock worth $735,431. 33.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Mineralys Therapeutics

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Mineralys Therapeutics by 0.5% in the first quarter. Vanguard Group Inc. now owns 982,932 shares of the company’s stock worth $12,690,000 after buying an additional 4,952 shares in the last quarter. SR One Capital Management LP increased its holdings in Mineralys Therapeutics by 12.4% in the 1st quarter. SR One Capital Management LP now owns 2,016,822 shares of the company’s stock worth $26,037,000 after acquiring an additional 222,222 shares in the last quarter. Affinity Asset Advisors LLC bought a new stake in Mineralys Therapeutics during the 1st quarter worth approximately $4,234,000. Bellevue Group AG purchased a new position in Mineralys Therapeutics during the first quarter valued at approximately $119,000. Finally, RA Capital Management L.P. boosted its position in shares of Mineralys Therapeutics by 52.6% in the first quarter. RA Capital Management L.P. now owns 4,850,984 shares of the company’s stock worth $62,626,000 after purchasing an additional 1,672,508 shares during the period. 84.46% of the stock is 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.