Greenland Capital Management LP Raises Stake in Mineralys Therapeutics, Inc. $MLYS

Greenland Capital Management LP raised its holdings in Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 958.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 105,853 shares of the company’s stock after purchasing an additional 95,853 shares during the quarter. Greenland Capital Management LP’s holdings in Mineralys Therapeutics were worth $4,014,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC boosted its stake in shares of Mineralys Therapeutics by 198.2% during the third quarter. Smartleaf Asset Management LLC now owns 1,017 shares of the company’s stock worth $40,000 after buying an additional 676 shares during the period. Ameritas Investment Partners Inc. raised its stake in Mineralys Therapeutics by 42.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,995 shares of the company’s stock valued at $54,000 after acquiring an additional 1,197 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its position in Mineralys Therapeutics by 29.4% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 9,234 shares of the company’s stock worth $125,000 after acquiring an additional 2,098 shares during the period. ProShare Advisors LLC acquired a new stake in Mineralys Therapeutics during the 2nd quarter worth approximately $141,000. Finally, Arizona State Retirement System purchased a new position in shares of Mineralys Therapeutics in the 3rd quarter valued at approximately $402,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Mineralys Therapeutics news, CEO Jon Congleton sold 16,236 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $32.62, for a total transaction of $529,618.32. Following the transaction, the chief executive officer directly owned 639,151 shares in the company, valued at approximately $20,849,105.62. This represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Adam Scott Levy sold 10,758 shares of Mineralys Therapeutics stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $32.14, for a total transaction of $345,762.12. Following the sale, the chief financial officer owned 8,638 shares of the company’s stock, valued at approximately $277,625.32. The trade was a 55.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 340,748 shares of company stock worth $11,697,169 in the last 90 days. 33.24% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Thursday, January 22nd. HC Wainwright lifted their price objective on shares of Mineralys Therapeutics from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Wells Fargo & Company upped their price objective on shares of Mineralys Therapeutics from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Finally, Stifel Nicolaus raised their target price on shares of Mineralys Therapeutics from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Mineralys Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $47.43.

Mineralys Therapeutics Stock Performance

NASDAQ:MLYS opened at $28.93 on Tuesday. Mineralys Therapeutics, Inc. has a 1 year low of $8.24 and a 1 year high of $47.65. The stock has a fifty day moving average price of $32.86 and a two-hundred day moving average price of $34.30. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of -9.81 and a beta of 0.52.

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. The company was formerly known as Catalys SC1, Inc and changed its name to Mineralys Therapeutics, Inc in May 2020. The company was incorporated in 2019 and is headquartered in Radnor, Pennsylvania.