Mineralys Therapeutics’ (MLYS) “Buy” Rating Reiterated at Guggenheim

Mineralys Therapeutics (NASDAQ:MLYS)‘s stock had its “buy” rating restated by Guggenheim in a note issued to investors on Monday,Benzinga reports.

A number of other equities research analysts have also recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Mineralys Therapeutics in a report on Thursday, February 13th. The Goldman Sachs Group dropped their price target on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th.

Mineralys Therapeutics Trading Down 2.7 %

Shares of MLYS traded down $0.26 on Monday, reaching $9.31. 14,316 shares of the company’s stock traded hands, compared to its average volume of 280,425. The stock has a market cap of $463.76 million, a PE ratio of -2.55 and a beta of 1.44. Mineralys Therapeutics has a 52-week low of $8.58 and a 52-week high of $16.91. The stock’s 50 day simple moving average is $10.80 and its two-hundred day simple moving average is $11.92.

Mineralys Therapeutics (NASDAQ:MLYS) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.02. Analysts forecast that Mineralys Therapeutics will post -4.23 earnings per share for the current year.

Insider Buying and Selling

In other Mineralys Therapeutics news, CEO Jon Congleton sold 18,333 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 877,608 shares of the company’s stock, valued at $7,951,128.48. This trade represents a 2.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adam Scott Levy sold 10,757 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $9.10, for a total transaction of $97,888.70. Following the transaction, the chief financial officer now directly owns 226,097 shares of the company’s stock, valued at approximately $2,057,482.70. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 33.24% of the stock is currently owned by company insiders.

Institutional Trading of Mineralys Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new position in Mineralys Therapeutics in the fourth quarter worth about $48,000. SG Americas Securities LLC purchased a new position in Mineralys Therapeutics during the third quarter valued at $110,000. China Universal Asset Management Co. Ltd. boosted its stake in Mineralys Therapeutics by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,564 shares of the company’s stock worth $116,000 after acquiring an additional 3,732 shares in the last quarter. ProShare Advisors LLC bought a new position in shares of Mineralys Therapeutics during the fourth quarter valued at approximately $128,000. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Mineralys Therapeutics during the fourth quarter valued at approximately $145,000. Hedge funds and other 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.