Mineralys Therapeutics (NASDAQ:MLYS) Raised to “Hold” at UBS Group

Mineralys Therapeutics (NASDAQ:MLYS – Get Free Report) was upgraded by equities researchers at UBS Group to a “hold” rating in a research report issued on Sunday, Zacks reports.

Several other analysts have also recently weighed in on the company. Wall Street Zen cut Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. HC Wainwright restated a “buy” rating and issued a $56.00 price objective on shares of Mineralys Therapeutics in a report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Friday, July 17th. Finally, Zacks Research raised shares of Mineralys Therapeutics from a “strong sell” rating to a “hold” rating in a report on Friday, September 11th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $45.50.

View Our Latest Research Report on MLYS

Mineralys Therapeutics Stock Performance

NASDAQ:MLYS opened at $21.00 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 34.46 and a quick ratio of 34.46. Mineralys Therapeutics has a fifty-two week low of $20.41 and a fifty-two week high of $47.65. The business has a 50 day moving average price of $26.32 and a 200-day moving average price of $26.92.

Mineralys Therapeutics (NASDAQ:MLYS – Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($2.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($2.30). Equities analysts forecast that Mineralys Therapeutics will post -4.45 earnings per share for the current year.

Insider Buying and Selling at Mineralys Therapeutics

In other news, insider Eric Warren sold 7,438 shares of Mineralys Therapeutics stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $26.87, for a total transaction of $199,859.06. Following the transaction, the insider directly owned 38,400 shares of the company’s stock, valued at $1,031,808. The trade was a 16.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daphne Karydas sold 3,000 shares of Mineralys Therapeutics stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $28.58, for a total transaction of $85,740.00. Following the transaction, the director directly owned 6,200 shares in the company, valued at $177,196. This represents a 32.61% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 206,803 shares of company stock worth $5,661,713. Insiders own 18.94% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlueCrest Capital Management Ltd purchased a new position in shares of Mineralys Therapeutics during the second quarter valued at about $2,298,000. WINTON GROUP Ltd bought a new position in Mineralys Therapeutics during the second quarter valued at $912,000. Arizona State Retirement System raised its position in shares of Mineralys Therapeutics by 22.4% during the 2nd quarter. Arizona State Retirement System now owns 15,357 shares of the company’s stock valued at $414,000 after buying an additional 2,815 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Mineralys Therapeutics during the second quarter worth approximately $333,000. Finally, Pale Fire Capital SE increased its stake in Mineralys Therapeutics by 68.0% during the second quarter. Pale Fire Capital SE now owns 614,284 shares of the company’s stock worth $16,573,000 after acquiring an additional 248,658 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Mineralys Therapeutics Company Profile

(Get Free Report)

Mineralys Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for hypertension and other cardiovascular and kidney-related conditions associated with excess aldosterone activity. The company is headquartered in Radnor, Pennsylvania.

Mineralys’ lead product candidate is lorundrostat, an oral, highly selective aldosterone synthase inhibitor designed to reduce the production of aldosterone. The company is evaluating lorundrostat as a potential treatment for uncontrolled or resistant hypertension, including hypertension linked to abnormal activation of the renin-angiotensin-aldosterone system.

Mineralys was established to advance therapies targeting aldosterone-driven disease and became a publicly traded company on the Nasdaq exchange in 2023.

See Also

Analyst Recommendations for Mineralys Therapeutics (NASDAQ:MLYS)

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