Mineralys Therapeutics’ (MLYS) Buy Rating Reaffirmed at HC Wainwright

Mineralys Therapeutics (NASDAQ:MLYS)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $30.00 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 70.49% from the stock’s current price.

MLYS has been the topic of a number of other reports. The Goldman Sachs Group cut their price target on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Guggenheim reaffirmed a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, February 24th.

Mineralys Therapeutics Stock Up 67.3 %

MLYS traded up $7.08 during midday trading on Monday, reaching $17.60. 11,311,328 shares of the company’s stock were exchanged, compared to its average volume of 551,332. The firm has a market capitalization of $876.91 million, a price-to-earnings ratio of -4.80 and a beta of 1.50. The business has a 50-day simple moving average of $10.26 and a two-hundred day simple moving average of $11.86. Mineralys Therapeutics has a one year low of $8.24 and a one year high of $18.19.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.00) by $0.02. As a group, research analysts anticipate that Mineralys Therapeutics will post -4.23 EPS for the current fiscal year.

Insider Activity

In other news, CFO Adam Scott Levy sold 10,757 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $9.10, for a total value of $97,888.70. Following the sale, the chief financial officer now directly owns 226,097 shares of the company’s stock, valued at approximately $2,057,482.70. This represents a 4.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jon Congleton sold 18,333 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $9.06, for a total value of $166,096.98. Following the sale, the chief executive officer now directly owns 877,608 shares of the company’s stock, valued at $7,951,128.48. This represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. 33.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Polar Asset Management Partners Inc. boosted its stake in Mineralys Therapeutics by 144.7% in the 4th quarter. Polar Asset Management Partners Inc. now owns 99,100 shares of the company’s stock worth $1,220,000 after purchasing an additional 58,600 shares during the period. Tema Etfs LLC purchased a new position in shares of Mineralys Therapeutics in the fourth quarter worth $1,102,000. Stempoint Capital LP purchased a new stake in Mineralys Therapeutics in the 4th quarter worth approximately $4,925,000. ProShare Advisors LLC purchased a new stake in shares of Mineralys Therapeutics in the 4th quarter worth about $128,000. Finally, Millennium Management LLC raised its position in shares of Mineralys Therapeutics by 1,015.8% in the 4th quarter. Millennium Management LLC now owns 1,101,674 shares of the company’s stock worth $13,562,000 after acquiring an additional 1,002,941 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

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.