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

Mineralys Therapeutics (NASDAQ:MLYS)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a note issued to investors on Thursday, Benzinga reports. They presently have a $30.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 117.71% from the company’s previous close.

Mineralys Therapeutics Trading Down 1.3 %

MLYS stock opened at $13.78 on Thursday. The firm has a market cap of $684.16 million, a P/E ratio of -6.29 and a beta of 1.93. The stock’s 50 day simple moving average is $12.64 and its 200 day simple moving average is $12.50. Mineralys Therapeutics has a 12-month low of $5.85 and a 12-month high of $16.91.

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

Insider Transactions at Mineralys Therapeutics

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. raised its holdings in shares of 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 last quarter. SG Americas Securities LLC acquired a new stake in Mineralys Therapeutics in the 3rd quarter valued at approximately $110,000. Nantahala Capital Management LLC raised its stake in 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. Driehaus Capital Management LLC boosted its position in Mineralys Therapeutics by 40.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 257,371 shares of the company’s stock worth $3,011,000 after acquiring an additional 74,074 shares during the period. Finally, Lion Point Capital LP boosted its position 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 during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

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.