Analysts Set Mineralys Therapeutics, Inc. (NASDAQ:MLYS) Target Price at $49.33

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $49.3333.

A number of research analysts recently commented on the company. Wall Street Zen cut Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. HC Wainwright restated a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. TD Cowen assumed coverage on Mineralys Therapeutics in a research report on Monday, April 27th. They issued a “buy” rating on the stock. Jefferies Financial Group reiterated a “hold” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Finally, Bank of America lifted their target price on Mineralys Therapeutics from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, March 13th.

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Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, CEO Jon Congleton sold 75,000 shares of Mineralys Therapeutics stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $26.14, for a total value of $1,960,500.00. Following the transaction, the chief executive officer owned 614,321 shares in the company, valued at $16,058,350.94. The trade was a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 104,124 shares of Mineralys Therapeutics stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $25.90, for a total value of $2,696,811.60. Following the completion of the transaction, the insider owned 38,400 shares in the company, valued at approximately $994,560. This represents a 73.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 266,831 shares of company stock worth $6,995,829 over the last 90 days. Insiders own 18.94% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp boosted its stake in shares of Mineralys Therapeutics by 144.4% during the fourth quarter. State Street Corp now owns 3,184,999 shares of the company’s stock valued at $115,584,000 after purchasing an additional 1,881,976 shares in the last quarter. Farallon Capital Management LLC acquired a new stake in shares of Mineralys Therapeutics during the third quarter valued at about $63,442,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Mineralys Therapeutics by 6,097.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,325,120 shares of the company’s stock valued at $48,089,000 after purchasing an additional 1,303,737 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of Mineralys Therapeutics during the third quarter valued at about $45,708,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Mineralys Therapeutics by 6,012.8% during the fourth quarter. Janus Henderson Group PLC now owns 1,213,265 shares of the company’s stock valued at $44,005,000 after purchasing an additional 1,193,417 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Stock Performance

Shares of NASDAQ MLYS opened at $26.98 on Wednesday. Mineralys Therapeutics has a 52 week low of $12.59 and a 52 week high of $47.65. The stock has a market capitalization of $2.23 billion, a P/E ratio of -13.16 and a beta of 0.57. The stock’s fifty day moving average is $27.19 and its 200 day moving average is $29.30.

Mineralys Therapeutics (NASDAQ:MLYS – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.04. Equities research analysts forecast that Mineralys Therapeutics will post -2.3 earnings per share for the current year.

Mineralys Therapeutics Company Profile

(Get Free Report)

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. The company was formerly known as Catalys SC1, Inc and changed its name to Mineralys Therapeutics, Inc in May 2020. The company was incorporated in 2019 and is headquartered in Radnor, Pennsylvania.

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