Mineralys Therapeutics (NASDAQ:MLYS) Given New $24.00 Price Target at The Goldman Sachs Group

Mineralys Therapeutics (NASDAQ:MLYS) had its target price reduced by The Goldman Sachs Group from $28.00 to $24.00 in a research note published on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Mineralys Therapeutics in a research report on Thursday.

Mineralys Therapeutics Price Performance

Mineralys Therapeutics stock opened at $10.20 on Thursday. The stock has a market capitalization of $507.65 million, a P/E ratio of -3.12 and a beta of 1.44. Mineralys Therapeutics has a 12-month low of $8.58 and a 12-month high of $16.91. The firm’s 50-day moving average is $11.21 and its two-hundred day moving average is $12.03.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results 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. As a group, analysts forecast that Mineralys Therapeutics will post -3.63 EPS for the current year.

Insider Buying and Selling

In related news, CFO Adam Scott Levy sold 10,757 shares of Mineralys Therapeutics stock in a transaction on Monday, January 13th. The stock was sold at an average price of $9.10, for a total value of $97,888.70. Following the transaction, the chief financial officer now owns 226,097 shares in the company, valued at approximately $2,057,482.70. This trade represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jon Congleton sold 18,333 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was 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 represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 33.24% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MLYS. Barclays PLC raised its stake in shares of Mineralys Therapeutics by 21.4% in the 4th quarter. Barclays PLC now owns 46,396 shares of the company’s stock valued at $571,000 after acquiring an additional 8,178 shares during the period. Renaissance Technologies LLC raised its position in Mineralys Therapeutics by 15.1% in the fourth quarter. Renaissance Technologies LLC now owns 119,500 shares of the company’s stock valued at $1,471,000 after purchasing an additional 15,700 shares during the period. ADAR1 Capital Management LLC raised its position in Mineralys Therapeutics by 15.4% in the fourth quarter. ADAR1 Capital Management LLC now owns 841,541 shares of the company’s stock valued at $10,359,000 after purchasing an additional 112,140 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Mineralys Therapeutics by 19.1% during the fourth quarter. Wells Fargo & Company MN now owns 23,714 shares of the company’s stock worth $292,000 after purchasing an additional 3,802 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Mineralys Therapeutics by 43.0% in the fourth quarter. Wellington Management Group LLP now owns 91,529 shares of the company’s stock worth $1,127,000 after buying an additional 27,531 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

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.