Mineralys Therapeutics (NASDAQ:MLYS) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Mineralys Therapeutics (NASDAQ:MLYS) in a research report released on Tuesday morning,Benzinga reports. The firm currently has a $30.00 target price 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 Down 2.7 %

Shares of Mineralys Therapeutics stock traded down $0.33 during trading on Tuesday, hitting $11.84. 63,575 shares of the stock traded hands, compared to its average volume of 179,475. The stock has a market cap of $589.28 million, a price-to-earnings ratio of -3.62 and a beta of 1.71. The firm’s fifty day moving average is $12.99 and its 200-day moving average is $12.65. Mineralys Therapeutics has a 52 week low of $5.85 and a 52 week high of $16.91.

Mineralys Therapeutics (NASDAQ:MLYS) last posted 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. On average, analysts forecast that Mineralys Therapeutics will post -3.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mineralys Therapeutics news, insider David Malcom Rodman sold 25,482 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 135,974 shares in the company, valued at approximately $2,043,689.22. This trade represents a 15.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jon Congleton sold 15,271 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $13.52, for a total value of $206,463.92. Following the completion of the sale, the chief executive officer now owns 895,941 shares of the company’s stock, valued at approximately $12,113,122.32. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,510 shares of company stock worth $735,431 in the last ninety days. 33.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Mineralys Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. RA Capital Management L.P. lifted its holdings in Mineralys Therapeutics by 52.6% in the 1st quarter. RA Capital Management L.P. now owns 4,850,984 shares of the company’s stock worth $62,626,000 after buying an additional 1,672,508 shares during the period. SR One Capital Management LP lifted its stake in shares of Mineralys Therapeutics by 12.4% in the 1st quarter. SR One Capital Management LP now owns 2,016,822 shares of the company’s stock valued at $26,037,000 after purchasing an additional 222,222 shares during the period. Vanguard Group Inc. raised its stake in Mineralys Therapeutics by 0.5% during the first quarter. Vanguard Group Inc. now owns 982,932 shares of the company’s stock valued at $12,690,000 after buying an additional 4,952 shares during the last quarter. Caligan Partners LP raised its stake in Mineralys Therapeutics by 31.6% during the third quarter. Caligan Partners LP now owns 981,155 shares of the company’s stock valued at $11,882,000 after buying an additional 235,397 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Mineralys Therapeutics by 3.2% during the second quarter. American Century Companies Inc. now owns 743,140 shares of the company’s stock valued at $8,695,000 after buying an additional 23,170 shares during the last quarter. 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.