Mineralys Therapeutics (NASDAQ:MLYS) Reaches New 1-Year High - Still a Buy?

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $18.38 and last traded at $16.75, with a volume of 2284823 shares trading hands. The stock had previously closed at $15.43.

Analysts Set New Price Targets

MLYS has been the subject of several recent analyst reports. Guggenheim reaffirmed a "buy" rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th. The Goldman Sachs Group reduced their price objective on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $30.00 price objective on shares of Mineralys Therapeutics in a research note on Monday, March 10th.

Mineralys Therapeutics Stock Up 0.8 %

The firm has a market capitalization of $1.06 billion, a P/E ratio of -4.63 and a beta of 1.50. The firm's 50-day simple moving average is $10.86 and its 200-day simple moving average is $12.06.

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. As a group, analysts expect that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current fiscal year.

Remove Ads

Insider Buying and Selling at Mineralys Therapeutics

In other news, CFO Adam Scott Levy sold 10,757 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 226,097 shares in the company, valued at approximately $2,057,482.70. The trade was a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jon Congleton sold 18,333 shares of the business's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $9.06, for a total transaction of $166,096.98. Following the completion of the sale, the chief executive officer now owns 877,608 shares of the company's stock, valued at approximately $7,951,128.48. The trade was a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 33.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

A number of hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Mineralys Therapeutics by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,553 shares of the company's stock worth $130,000 after acquiring an additional 989 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Mineralys Therapeutics by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 214,906 shares of the company's stock worth $2,645,000 after acquiring an additional 1,307 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Mineralys Therapeutics by 0.7% in the 4th quarter. Northern Trust Corp now owns 246,113 shares of the company's stock worth $3,030,000 after acquiring an additional 1,688 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Mineralys Therapeutics by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 65,318 shares of the company's stock worth $804,000 after acquiring an additional 1,711 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Mineralys Therapeutics by 19.1% during the 4th quarter. Wells Fargo & Company MN now owns 23,714 shares of the company's stock valued at $292,000 after buying an additional 3,802 shares during the last quarter. 84.46% of the stock is currently owned by 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.