Mineralys Therapeutics’ (MLYS) Buy Rating Reiterated at Guggenheim

Guggenheim reissued their buy rating on shares of Mineralys Therapeutics (NASDAQ:MLYS) in a research note issued to investors on Monday morning,Benzinga reports.

MLYS has been the topic of several other research reports. The Goldman Sachs Group dropped their target price on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Mineralys Therapeutics in a report on Thursday, February 13th.

Mineralys Therapeutics Trading Up 10.5 %

Shares of Mineralys Therapeutics stock opened at $9.68 on Monday. The stock has a fifty day simple moving average of $10.63 and a 200 day simple moving average of $11.88. Mineralys Therapeutics has a 12-month low of $8.24 and a 12-month high of $16.91. The company has a market capitalization of $482.41 million, a P/E ratio of -2.66 and a beta of 1.44.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results on Wednesday, February 12th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.02. On average, analysts predict that Mineralys Therapeutics will post -4.23 EPS for the current year.

Insider Buying and Selling at Mineralys Therapeutics

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 stock was sold at an average price of $9.06, for a total value of $166,096.98. Following the completion of the sale, the chief executive officer now directly owns 877,608 shares of the company’s stock, valued at $7,951,128.48. This trade represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Adam Scott Levy sold 10,757 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $9.10, for a total value of $97,888.70. Following the completion of the sale, the chief financial officer now owns 226,097 shares in the company, valued at approximately $2,057,482.70. The trade was a 4.54 % 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 Investors Weigh In On Mineralys Therapeutics

Several large investors have recently added to or reduced their stakes in MLYS. Polar Asset Management Partners Inc. raised its stake in Mineralys Therapeutics by 144.7% in the 4th quarter. Polar Asset Management Partners Inc. now owns 99,100 shares of the company’s stock valued at $1,220,000 after acquiring an additional 58,600 shares during the period. Tema Etfs LLC purchased a new stake in shares of Mineralys Therapeutics during the 4th quarter valued at approximately $1,102,000. Stempoint Capital LP bought a new position in Mineralys Therapeutics in the 4th quarter worth approximately $4,925,000. ProShare Advisors LLC bought a new position in Mineralys Therapeutics in the 4th quarter worth approximately $128,000. Finally, Millennium Management LLC boosted its holdings in Mineralys Therapeutics by 1,015.8% in the 4th quarter. Millennium Management LLC now owns 1,101,674 shares of the company’s stock worth $13,562,000 after buying an additional 1,002,941 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Mineralys Therapeutics Company Profile

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.