Mineralys Therapeutics, Inc.’s (NASDAQ:MLYS) Quiet Period Set To End on March 22nd

Mineralys Therapeutics’ (NASDAQ:MLYS – Get Rating) quiet period is set to end on Wednesday, March 22nd. Mineralys Therapeutics had issued 12,000,000 shares in its public offering on February 10th. The total size of the offering was $192,000,000 based on an initial share price of $16.00. During the company’s quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Ratings Changes

A number of brokerages recently commented on MLYS. Stifel Nicolaus initiated coverage on shares of Mineralys Therapeutics in a research note on Tuesday, March 7th. They set a “buy” rating and a $45.00 price target on the stock. Evercore ISI initiated coverage on Mineralys Therapeutics in a research report on Tuesday, March 7th. They set an “outperform” rating on the stock. Wells Fargo & Company began coverage on Mineralys Therapeutics in a research report on Tuesday, March 7th. They set an “overweight” rating and a $27.00 target price on the stock. Bank of America began coverage on Mineralys Therapeutics in a report on Tuesday, March 7th. They set a “buy” rating and a $39.00 target price for the company. Finally, Guggenheim began coverage on Mineralys Therapeutics in a report on Tuesday, March 7th. They set a “buy” rating and a $32.00 target price for the company. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $36.60.

Mineralys Therapeutics Stock Performance

Shares of NASDAQ:MLYS opened at $16.93 on Wednesday. Mineralys Therapeutics has a 52-week low of $15.04 and a 52-week high of $21.98.

Insider Activity at Mineralys Therapeutics

In other Mineralys Therapeutics news, CFO Adam Scott Levy bought 6,250 shares of Mineralys Therapeutics stock in a transaction that occurred on Tuesday, February 14th. The shares were bought at an average price of $16.00 per share, with a total value of $100,000.00. Following the acquisition, the chief financial officer now owns 350,811 shares in the company, valued at $5,612,976. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Adam Scott Levy bought 6,250 shares of the stock in a transaction dated Tuesday, February 14th. The stock was bought at an average price of $16.00 per share, with a total value of $100,000.00. Following the purchase, the chief financial officer now owns 350,811 shares in the company, valued at approximately $5,612,976. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ra Capital Management, L.P. bought 1,250,000 shares of the business’s stock in a transaction dated Tuesday, February 14th. The stock was purchased at an average price of $16.00 per share, for a total transaction of $20,000,000.00. Following the acquisition, the director now directly owns 1,867,229 shares of the company’s stock, valued at approximately $29,875,664. The disclosure for this purchase can be found here. In the last three months, insiders have bought 1,568,750 shares of company stock valued at $25,100,000.

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.