Mineralys Therapeutics' (MLYS) "Buy" Rating Reiterated at HC Wainwright

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report)'s stock had its "buy" rating restated by equities researchers at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $30.00 price objective on the stock. HC Wainwright's target price would indicate a potential upside of 124.22% from the company's current price.

Mineralys Therapeutics Trading Down 10.3 %

Mineralys Therapeutics stock traded down $1.54 during mid-day trading on Tuesday, reaching $13.38. The company's stock had a trading volume of 397,620 shares, compared to its average volume of 179,600. The business has a 50 day moving average price of $12.95 and a 200-day moving average price of $12.64. The firm has a market cap of $665.39 million, a price-to-earnings ratio of -5.51 and a beta of 1.71. Mineralys Therapeutics has a twelve month low of $5.85 and a twelve month high of $16.91.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.73) by ($0.10). During the same period in the previous year, the business posted ($0.31) EPS. On average, equities analysts expect that Mineralys Therapeutics will post -3.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 25,482 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $15.03, for a total value of $382,994.46. Following the transaction, the insider now directly owns 135,974 shares in the company, valued at $2,043,689.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Mineralys Therapeutics news, insider David Malcom Rodman sold 25,482 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $15.03, for a total value of $382,994.46. Following the completion of the transaction, the insider now owns 135,974 shares of the company's stock, valued at approximately $2,043,689.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jon Congleton sold 15,271 shares of Mineralys Therapeutics stock in a transaction that occurred 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 transaction, the chief executive officer now owns 895,941 shares of the company's stock, valued at approximately $12,113,122.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,510 shares of company stock worth $735,431. Company insiders own 33.24% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. RA Capital Management L.P. raised its holdings in Mineralys Therapeutics by 52.6% during the first quarter. RA Capital Management L.P. now owns 4,850,984 shares of the company's stock valued at $62,626,000 after acquiring an additional 1,672,508 shares during the period. Affinity Asset Advisors LLC acquired a new position in Mineralys Therapeutics during the 1st quarter worth $4,234,000. SR One Capital Management LP increased its position in shares of Mineralys Therapeutics by 12.4% in the first quarter. SR One Capital Management LP now owns 2,016,822 shares of the company's stock worth $26,037,000 after acquiring an additional 222,222 shares in the last quarter. Nantahala Capital Management LLC increased its holdings in Mineralys Therapeutics by 60.1% in the 2nd quarter. Nantahala Capital Management LLC now owns 532,506 shares of the company's stock valued at $6,230,000 after buying an additional 200,000 shares during the period. Finally, Driehaus Capital Management LLC increased its stake in shares of Mineralys Therapeutics by 40.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 257,371 shares of the company's stock valued at $3,011,000 after acquiring an additional 74,074 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

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.