Mineralys Therapeutics (NASDAQ:MLYS) Price Target Cut to $24.00 by Analysts at The Goldman Sachs Group

Mineralys Therapeutics (NASDAQ:MLYS) had its price target dropped by investment analysts at The Goldman Sachs Group from $28.00 to $24.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 131.77% from the company’s current price.

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

Mineralys Therapeutics Trading Down 2.6 %

Shares of MLYS traded down $0.28 during mid-day trading on Thursday, hitting $10.36. The company’s stock had a trading volume of 75,438 shares, compared to its average volume of 262,393. Mineralys Therapeutics has a 1-year low of $8.58 and a 1-year high of $16.91. The firm has a market capitalization of $515.37 million, a P/E ratio of -3.17 and a beta of 1.44. The firm has a 50-day simple moving average of $11.21 and a 200 day simple moving average of $12.03.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02. As a group, sell-side analysts predict that Mineralys Therapeutics will post -3.63 EPS for the current fiscal year.

Insider Transactions at Mineralys Therapeutics

In related news, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $9.10, for a total transaction of $97,888.70. Following the completion of the transaction, the chief financial officer now directly owns 226,097 shares in the company, valued at $2,057,482.70. The trade was a 4.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jon Congleton sold 18,333 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $9.06, for a total value of $166,096.98. Following the completion of the sale, the chief executive officer now directly owns 877,608 shares in the company, valued at approximately $7,951,128.48. The trade was a 2.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 33.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in shares of Mineralys Therapeutics by 15.1% during the fourth quarter. Renaissance Technologies LLC now owns 119,500 shares of the company’s stock worth $1,471,000 after buying an additional 15,700 shares in the last quarter. ADAR1 Capital Management LLC grew its stake in Mineralys Therapeutics by 15.4% in the 4th quarter. ADAR1 Capital Management LLC now owns 841,541 shares of the company’s stock worth $10,359,000 after acquiring an additional 112,140 shares during the period. Wells Fargo & Company MN raised its holdings in Mineralys Therapeutics by 19.1% in the 4th quarter. Wells Fargo & Company MN now owns 23,714 shares of the company’s stock valued at $292,000 after acquiring an additional 3,802 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Mineralys Therapeutics by 43.0% during the 4th quarter. Wellington Management Group LLP now owns 91,529 shares of the company’s stock worth $1,127,000 after purchasing an additional 27,531 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Mineralys Therapeutics by 2,251.5% during the fourth quarter. JPMorgan Chase & Co. now owns 503,590 shares of the company’s stock worth $6,199,000 after purchasing an additional 482,174 shares during the last quarter. Institutional investors and hedge funds 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.