Mineralys Therapeutics' (NASDAQ:MLYS – Get Rating) quiet period is set to expire 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 underwriters that worked on the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company's quiet period, it's expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Stifel Nicolaus assumed coverage on Mineralys Therapeutics in a report on Tuesday, March 7th. They issued a "buy" rating and a $45.00 price objective for the company. Credit Suisse Group lowered their price target on Mineralys Therapeutics from $40.00 to $38.00 and set an "outperform" rating for the company in a report on Thursday. Bank of America began coverage on Mineralys Therapeutics in a report on Tuesday, March 7th. They set a "buy" rating and a $39.00 price target for the company. Guggenheim initiated coverage on Mineralys Therapeutics in a research report on Tuesday, March 7th. They set a "buy" rating and a $32.00 price objective on the stock. Finally, Wells Fargo & Company initiated coverage on Mineralys Therapeutics in a research report on Tuesday, March 7th. They issued an "overweight" rating and a $27.00 price target on the stock. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $36.20.

Mineralys Therapeutics Stock Performance

NASDAQ MLYS opened at $15.44 on Friday. Mineralys Therapeutics has a 12-month low of $15.01 and a 12-month high of $21.98.

Insiders Place Their Bets

In other Mineralys Therapeutics news, major shareholder Hbm Healthcare Investments (Ca bought 312,500 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 $5,000,000.00. Following the purchase, the insider now directly owns 3,218,106 shares of the company's stock, valued at approximately $51,489,696. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder Hbm Healthcare Investments (Ca purchased 312,500 shares of the firm's stock in a transaction dated Tuesday, February 14th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $5,000,000.00. Following the completion of the transaction, the insider now directly owns 3,218,106 shares in the company, valued at approximately $51,489,696. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Adam Scott Levy acquired 6,250 shares of the company's stock in a transaction dated Tuesday, February 14th. The shares were bought at an average cost of $16.00 per share, with a total value 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 approximately $5,612,976. The disclosure for this purchase can be found here. Insiders have bought 1,568,750 shares of company stock valued at $25,100,000 in the last three months.

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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