Mineralys Therapeutics’ (MLYS) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Mineralys Therapeutics (NASDAQ:MLYS) in a research note published on Tuesday,Benzinga reports. They currently have a $30.00 price target on the stock. HC Wainwright also issued estimates for Mineralys Therapeutics’ Q4 2024 earnings at ($1.14) EPS, FY2024 earnings at ($3.83) EPS, FY2025 earnings at ($4.10) EPS, FY2026 earnings at ($3.41) EPS, FY2027 earnings at ($3.54) EPS and FY2028 earnings at ($1.85) EPS.

Mineralys Therapeutics Stock Performance

Shares of NASDAQ MLYS traded down $0.33 during midday trading on Tuesday, hitting $11.84. 63,575 shares of the stock traded hands, compared to its average volume of 179,475. The company has a market cap of $589.28 million, a PE ratio of -3.62 and a beta of 1.71. Mineralys Therapeutics has a one year low of $5.85 and a one year high of $16.91. The business has a 50 day moving average price of $12.99 and a two-hundred day moving average price of $12.65.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Monday, November 11th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.30). During the same period last year, the company posted ($0.57) earnings per share. As a group, equities research analysts forecast that Mineralys Therapeutics will post -3.5 EPS for the current fiscal year.

Insider Buying and Selling at Mineralys Therapeutics

In other news, insider David Malcom Rodman sold 25,482 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $15.03, for a total transaction of $382,994.46. Following the transaction, the insider now owns 135,974 shares of the company’s stock, valued at $2,043,689.22. This represents a 15.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jon Congleton sold 15,271 shares of the company’s stock in a transaction 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 directly owns 895,941 shares in the company, valued at $12,113,122.32. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,510 shares of company stock worth $735,431 in the last quarter. 33.24% of the stock is currently owned by company insiders.

Institutional Trading of Mineralys Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in Mineralys Therapeutics during the 3rd quarter worth about $110,000. Bellevue Group AG purchased a new stake in Mineralys Therapeutics during the 1st quarter worth about $119,000. China Universal Asset Management Co. Ltd. lifted its holdings 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 worth $116,000 after purchasing an additional 3,732 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Mineralys Therapeutics by 100.0% during the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock worth $140,000 after purchasing an additional 6,000 shares in the last quarter. Finally, PDT Partners LLC purchased a new stake in Mineralys Therapeutics during the 3rd quarter worth about $148,000. Hedge funds and other institutional investors 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.