Mineralys Therapeutics (NASDAQ:MLYS) Stock Price Expected to Rise, HC Wainwright Analyst Says

Mineralys Therapeutics (NASDAQ:MLYS - Free Report) had its price objective raised by HC Wainwright from $30.00 to $42.00 in a research report released on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

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

Mineralys Therapeutics Stock Performance

MLYS stock traded down $0.35 during trading on Wednesday, hitting $12.05. 492,534 shares of the company's stock traded hands, compared to its average volume of 384,569. Mineralys Therapeutics has a 52 week low of $8.24 and a 52 week high of $18.38. The stock has a market capitalization of $756.75 million, a price-to-earnings ratio of -3.31 and a beta of -0.39. The business has a fifty day simple moving average of $11.90 and a 200 day simple moving average of $12.29.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its 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. Research analysts forecast that Mineralys Therapeutics will post -4.23 earnings per share for the current fiscal year.

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Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics 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 transaction, the chief financial officer now directly owns 226,097 shares of the company's stock, valued at approximately $2,057,482.70. The trade was a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Samsara Biocapital Gp, Llc acquired 600,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $13.50 per share, with a total value of $8,100,000.00. Following the transaction, the insider now directly owns 5,674,916 shares in the company, valued at approximately $76,611,366. This represents a 11.82 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 84,861 shares of company stock valued at $1,142,937 over the last quarter. 33.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its holdings in Mineralys Therapeutics by 43.0% in the 4th quarter. Wellington Management Group LLP now owns 91,529 shares of the company's stock worth $1,127,000 after buying an additional 27,531 shares during the period. Polar Asset Management Partners Inc. boosted its position in Mineralys Therapeutics by 144.7% during the fourth 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 in the last quarter. Tema Etfs LLC acquired a new stake in Mineralys Therapeutics in the 4th quarter valued at $1,102,000. Stempoint Capital LP purchased a new position in Mineralys Therapeutics during the fourth quarter valued at $4,925,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Mineralys Therapeutics in the fourth quarter valued at about $128,000. 84.46% of the stock is 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.