Mineralys Therapeutics (NASDAQ:MLYS) Stock Price Up 5.6% – Should You Buy?

Mineralys Therapeutics, Inc. (NASDAQ:MLYS)’s stock price traded up 5.6% during trading on Tuesday . The stock traded as high as $14.15 and last traded at $14.21. 730,506 shares were traded during mid-day trading, an increase of 42% from the average session volume of 513,387 shares. The stock had previously closed at $13.45.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. HC Wainwright reissued a “buy” rating and issued a $42.00 price objective on shares of Mineralys Therapeutics in a research note on Tuesday. Wall Street Zen downgraded shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. Jefferies Financial Group assumed coverage on shares of Mineralys Therapeutics in a research note on Tuesday, June 10th. They issued a “hold” rating and a $15.00 price objective for the company. Finally, Guggenheim set a $48.00 price objective on shares of Mineralys Therapeutics and gave the company a “buy” rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Mineralys Therapeutics presently has an average rating of “Hold” and an average target price of $32.25.

Mineralys Therapeutics Stock Up 3.7%

The company’s 50 day moving average price is $14.77 and its 200-day moving average price is $12.85. The stock has a market cap of $909.19 million, a P/E ratio of -3.82 and a beta of -0.17.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.79) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.23. Equities research analysts anticipate that Mineralys Therapeutics, Inc. will post -4.23 earnings per share for the current year.

Insider Transactions at Mineralys Therapeutics

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of the firm’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $12.06, for a total value of $129,729.42. Following the completion of the sale, the chief financial officer now directly owns 215,340 shares in the company, valued at approximately $2,597,000.40. This trade represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Malcom Rodman sold 55,771 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $15.76, for a total transaction of $878,950.96. Following the completion of the sale, the insider now owns 116,704 shares of the company’s stock, valued at $1,839,255.04. The trade was a 32.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,579 shares of company stock worth $1,534,353 over the last three months. 25.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of large investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. lifted its stake in shares of Mineralys Therapeutics by 297.5% in the first quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company’s stock valued at $25,000 after buying an additional 1,190 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Mineralys Therapeutics in the fourth quarter valued at $48,000. Quarry LP bought a new position in shares of Mineralys Therapeutics in the first quarter valued at $111,000. ProShare Advisors LLC bought a new position in shares of Mineralys Therapeutics in the fourth quarter valued at $128,000. Finally, CWM LLC lifted its stake in shares of Mineralys Therapeutics by 59.3% in the first quarter. CWM LLC now owns 8,342 shares of the company’s stock valued at $132,000 after buying an additional 3,105 shares in the last quarter. 84.46% of the stock is currently 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.