Greenland Capital Management LP Buys Shares of 30,000 Mineralys Therapeutics, Inc. $MLYS

Greenland Capital Management LP bought a new position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 30,000 shares of the company’s stock, valued at approximately $809,000.

Several other institutional investors also recently modified their holdings of the stock. Navalign LLC bought a new stake in shares of Mineralys Therapeutics in the 4th quarter valued at about $33,000. KBC Group NV bought a new position in Mineralys Therapeutics during the 1st quarter worth approximately $33,000. Royal Bank of Canada boosted its stake in Mineralys Therapeutics by 262.3% during the 4th quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock worth $56,000 after acquiring an additional 1,107 shares during the last quarter. FNY Investment Advisers LLC grew its holdings in Mineralys Therapeutics by 400.0% during the second quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company’s stock valued at $67,000 after purchasing an additional 2,000 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Mineralys Therapeutics by 1,845.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,101 shares of the company’s stock valued at $76,000 after purchasing an additional 1,993 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MLYS shares. TD Cowen assumed coverage on shares of Mineralys Therapeutics in a report on Monday, April 27th. They issued a “buy” rating on the stock. Jefferies Financial Group reissued a “hold” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. HC Wainwright restated a “buy” rating on shares of Mineralys Therapeutics in a research report on Monday, June 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mineralys Therapeutics in a research note on Friday, July 17th. Finally, Zacks Research lowered Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a report on Thursday, August 13th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $49.33.

Insider Activity at Mineralys Therapeutics

In related news, Director Daphne Karydas sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $25.00, for a total transaction of $75,000.00. Following the sale, the director directly owned 6,200 shares in the company, valued at $155,000. This trade represents a 32.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Malcom Rodman sold 2,170 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $27.09, for a total transaction of $58,785.30. Following the completion of the sale, the insider directly owned 51,384 shares in the company, valued at $1,391,992.56. This represents a 4.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 216,896 shares of company stock valued at $5,613,000. Insiders own 18.94% of the company’s stock.

Mineralys Therapeutics Price Performance

NASDAQ MLYS opened at $25.65 on Friday. The business has a 50 day simple moving average of $26.74 and a 200 day simple moving average of $27.33. Mineralys Therapeutics, Inc. has a 52-week low of $14.53 and a 52-week high of $47.65. The company has a debt-to-equity ratio of 0.18, a quick ratio of 34.46 and a current ratio of 34.46. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of -6.05 and a beta of 0.68.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($2.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($2.30). Analysts anticipate that Mineralys Therapeutics, Inc. will post -4.45 earnings per share for the current fiscal year.

Mineralys Therapeutics 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. 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.