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

HC Wainwright reiterated their buy rating on shares of Mineralys Therapeutics (NASDAQ:MLYS) in a report issued on Tuesday,Benzinga reports. The firm currently has a $30.00 price objective 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 5.7 %

MLYS opened at $11.48 on Tuesday. Mineralys Therapeutics has a 12-month low of $5.85 and a 12-month high of $16.91. The firm has a market capitalization of $571.36 million, a P/E ratio of -3.62 and a beta of 1.71. The stock has a fifty day moving average of $12.99 and a 200-day moving average of $12.65.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings data on Monday, November 11th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.30). During the same quarter in the previous year, the firm earned ($0.57) EPS. On average, analysts expect that Mineralys Therapeutics will post -3.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction on Friday, October 11th. The shares were sold at an average price of $13.57, for a total value of $145,972.49. Following the completion of the sale, the chief financial officer now owns 236,854 shares of the company’s stock, valued at approximately $3,214,108.78. The trade was a 4.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Malcom Rodman sold 25,482 shares of the 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 directly owns 135,974 shares in the company, valued at $2,043,689.22. The trade was a 15.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,510 shares of company stock worth $735,431. Corporate insiders own 33.24% of the company’s stock.

Hedge Funds Weigh In On Mineralys Therapeutics

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Mineralys Therapeutics by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 982,932 shares of the company’s stock worth $12,690,000 after acquiring an additional 4,952 shares during the last quarter. Driehaus Capital Management LLC lifted its position in shares of Mineralys Therapeutics by 40.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 257,371 shares of the company’s stock worth $3,011,000 after purchasing an additional 74,074 shares during the last quarter. Nantahala Capital Management LLC boosted its stake in Mineralys Therapeutics by 60.1% during the 2nd quarter. Nantahala Capital Management LLC now owns 532,506 shares of the company’s stock valued at $6,230,000 after purchasing an additional 200,000 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Mineralys Therapeutics in the 2nd quarter valued at approximately $145,000. Finally, Bank of New York Mellon Corp increased its position in Mineralys Therapeutics by 72.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 84,762 shares of the company’s stock worth $992,000 after buying an additional 35,634 shares during the period. Institutional investors 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.