Mineralys Therapeutics (NASDAQ:MLYS) Given New $56.00 Price Target at HC Wainwright

by · The Markets Daily

Mineralys Therapeutics (NASDAQ:MLYS – Free Report) had its price target hoisted by HC Wainwright from $52.00 to $56.00 in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on MLYS. Wall Street Zen raised shares of Mineralys Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. Bank of America increased their price target on shares of Mineralys Therapeutics from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. The Goldman Sachs Group upped their target price on Mineralys Therapeutics from $32.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. Jefferies Financial Group lifted their price target on Mineralys Therapeutics from $15.00 to $26.00 and gave the company a “hold” rating in a research report on Wednesday, September 3rd. Finally, Wells Fargo & Company increased their price objective on Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Mineralys Therapeutics has an average rating of “Moderate Buy” and an average price target of $46.67.

View Our Latest Stock Analysis on Mineralys Therapeutics

Mineralys Therapeutics Price Performance

MLYS traded down $3.19 during midday trading on Wednesday, reaching $44.14. 1,731,170 shares of the company’s stock traded hands, compared to its average volume of 1,137,784. The firm has a fifty day moving average of $39.83 and a two-hundred day moving average of $23.63. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of -14.96 and a beta of 0.40. Mineralys Therapeutics has a 52 week low of $8.24 and a 52 week high of $47.65.

Mineralys Therapeutics (NASDAQ:MLYS – Get Free Report) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.14. Sell-side analysts forecast that Mineralys Therapeutics will post -4.23 EPS for the current year.

Insider Transactions at Mineralys Therapeutics

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,758 shares of the firm’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $42.01, for a total transaction of $451,943.58. Following the completion of the sale, the chief financial officer directly owned 116,865 shares in the company, valued at approximately $4,909,498.65. This trade represents a 8.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jon Congleton sold 15,100 shares of Mineralys Therapeutics stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $42.67, for a total transaction of $644,317.00. Following the completion of the transaction, the chief executive officer directly owned 831,305 shares of the company’s stock, valued at $35,471,784.35. This trade represents a 1.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 47,594 shares of company stock worth $1,951,443 over the last quarter. Corporate insiders own 25.56% of the company’s stock.

Institutional Investors Weigh In On Mineralys Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in Mineralys Therapeutics by 3.9% in the 1st quarter. Bank of New York Mellon Corp now owns 67,868 shares of the company’s stock worth $1,078,000 after acquiring an additional 2,550 shares during the last quarter. CWM LLC increased its holdings in shares of Mineralys Therapeutics by 59.3% in the 1st quarter. CWM LLC now owns 8,342 shares of the company’s stock worth $132,000 after purchasing an additional 3,105 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in shares of Mineralys Therapeutics by 297.5% in the first quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company’s stock worth $25,000 after purchasing an additional 1,190 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Mineralys Therapeutics by 82.9% in the first quarter. Jennison Associates LLC now owns 1,979,033 shares of the company’s stock worth $31,427,000 after purchasing an additional 897,027 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Mineralys Therapeutics during the first quarter valued at $219,000. Institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Company Profile

(Get Free Report)

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.

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