Mineralys Therapeutics, Inc. (NASDAQ:MLYS – Get Rating) reached a new 52-week low on Friday after Credit Suisse Group lowered their price target on the stock from $40.00 to $38.00. Credit Suisse Group currently has an outperform rating on the stock. Mineralys Therapeutics traded as low as $15.04 and last traded at $15.20, with a volume of 25683 shares traded. The stock had previously closed at $15.38.

Several other research firms also recently weighed in on MLYS. Guggenheim began coverage on Mineralys Therapeutics in a research report on Tuesday, March 7th. They set a "buy" rating and a $32.00 target price on the stock. Wells Fargo & Company initiated coverage on Mineralys Therapeutics in a report on Tuesday, March 7th. They issued an "overweight" rating and a $27.00 price objective on the stock. Evercore ISI assumed coverage on Mineralys Therapeutics in a report on Tuesday, March 7th. They issued an "outperform" rating on the stock. Stifel Nicolaus began coverage on Mineralys Therapeutics in a research note on Tuesday, March 7th. They issued a "buy" rating and a $45.00 target price for the company. Finally, Bank of America began coverage on Mineralys Therapeutics in a research note on Tuesday, March 7th. They set a "buy" rating and a $39.00 price objective for the company. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $36.20.

Insider Buying and Selling at Mineralys Therapeutics

In other news, Director Ra Capital Management, L.P. purchased 1,250,000 shares of the stock in a transaction dated Tuesday, February 14th. The shares were bought at an average cost of $16.00 per share, for a total transaction of $20,000,000.00. Following the transaction, the director now owns 1,867,229 shares in the company, valued at $29,875,664. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Ra Capital Management, L.P. purchased 1,250,000 shares of the stock in a transaction dated Tuesday, February 14th. The shares were bought at an average cost of $16.00 per share, for a total transaction of $20,000,000.00. Following the transaction, the director now owns 1,867,229 shares in the company, valued at $29,875,664. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adam Scott Levy bought 6,250 shares of the firm's stock in a transaction that occurred on Tuesday, February 14th. The stock was bought at an average price of $16.00 per share, for a total transaction of $100,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 350,811 shares in the company, valued at $5,612,976. The disclosure for this purchase can be found here. Insiders have acquired 1,568,750 shares of company stock valued at $25,100,000 in the last quarter.

Mineralys Therapeutics Stock Performance

About Mineralys Therapeutics

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Mineralys Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing medicines to target diseases driven by abnormally elevated aldosterone. Mineralys Therapeutics Inc is based in RADNOR, Pa.

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