Mineralys Therapeutics (NASDAQ:MLYS) Given New $24.00 Price Target at The Goldman Sachs Group

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) had its price objective decreased by equities researchers at The Goldman Sachs Group from $28.00 to $24.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's price target suggests a potential upside of 134.38% from the stock's previous close.

Separately, HC Wainwright reiterated a "buy" rating and set a $30.00 price target on shares of Mineralys Therapeutics in a report on Thursday.

Mineralys Therapeutics Trading Up 0.4 %

Shares of Mineralys Therapeutics stock traded up $0.04 on Thursday, reaching $10.24. 245,931 shares of the company were exchanged, compared to its average volume of 245,550. The stock has a fifty day moving average price of $11.11 and a 200-day moving average price of $11.99. The firm has a market capitalization of $509.64 million, a price-to-earnings ratio of -3.13 and a beta of 1.44. Mineralys Therapeutics has a fifty-two week low of $8.58 and a fifty-two week high of $16.91.

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, topping analysts' consensus estimates of ($1.00) by $0.02. On average, equities analysts anticipate that Mineralys Therapeutics will post -3.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jon Congleton sold 18,333 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $9.06, for a total transaction of $166,096.98. Following the transaction, the chief executive officer now owns 877,608 shares of the company's stock, valued at approximately $7,951,128.48. This represents a 2.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Adam Scott Levy sold 10,757 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,057,482.70. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders own 33.24% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MLYS. The Manufacturers Life Insurance Company acquired a new position in shares of Mineralys Therapeutics during the 2nd quarter valued at about $145,000. SG Americas Securities LLC bought a new stake in Mineralys Therapeutics during the 3rd quarter valued at approximately $110,000. China Universal Asset Management Co. Ltd. boosted its stake in Mineralys Therapeutics by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company's stock valued at $116,000 after purchasing an additional 3,732 shares during the period. Jennison Associates LLC boosted its stake in Mineralys Therapeutics by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 696,280 shares of the company's stock valued at $8,432,000 after purchasing an additional 13,023 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Mineralys Therapeutics by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 213,599 shares of the company's stock valued at $2,587,000 after purchasing an additional 9,664 shares during the period. Institutional investors and hedge funds own 84.46% of the company's stock.

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.