Guggenheim Reaffirms “Buy” Rating for Mineralys Therapeutics (NASDAQ:MLYS)

Mineralys Therapeutics (NASDAQ:MLYS)‘s stock had its “buy” rating reissued by equities researchers at Guggenheim in a research note issued on Monday,Benzinga reports.

Several other research analysts have also issued reports on MLYS. The Goldman Sachs Group dropped their price objective on Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Mineralys Therapeutics in a report on Thursday, February 13th.

Mineralys Therapeutics Price Performance

Mineralys Therapeutics stock opened at $8.76 on Monday. The stock has a fifty day moving average price of $10.74 and a two-hundred day moving average price of $11.91. Mineralys Therapeutics has a 52-week low of $8.24 and a 52-week high of $16.91. The firm has a market capitalization of $436.56 million, a P/E ratio of -2.41 and a beta of 1.44.

Mineralys Therapeutics (NASDAQ:MLYS) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.02. On average, equities research analysts predict that Mineralys Therapeutics will post -4.23 EPS for the current fiscal year.

Insider Transactions at Mineralys Therapeutics

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 10,757 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $9.10, for a total transaction 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jon Congleton sold 18,333 shares of Mineralys Therapeutics stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $9.06, for a total transaction of $166,096.98. Following the transaction, the chief executive officer now directly owns 877,608 shares in the company, valued at $7,951,128.48. The trade was a 2.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 33.24% of the company’s stock.

Institutional Investors Weigh In On Mineralys Therapeutics

Several hedge funds have recently bought and sold shares of MLYS. BNP Paribas Financial Markets acquired a new position in Mineralys Therapeutics in the fourth quarter valued at about $48,000. SG Americas Securities LLC acquired a new position in Mineralys Therapeutics during the 3rd quarter worth approximately $110,000. China Universal Asset Management Co. Ltd. boosted its holdings 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 purchasing an additional 3,732 shares during the last quarter. ProShare Advisors LLC acquired a new position in shares of Mineralys Therapeutics during the 4th quarter worth about $128,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of Mineralys Therapeutics in the fourth quarter valued at about $145,000. 84.46% of the stock is currently 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.