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

Greenland Capital Management LP purchased a new position in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 30,000 shares of the company’s stock, valued at approximately $809,000.

Other hedge funds also recently made changes to their positions in the company. Navalign LLC acquired a new stake in shares of Mineralys Therapeutics in the fourth quarter valued at approximately $33,000. KBC Group NV acquired a new position in Mineralys Therapeutics during the first quarter worth $33,000. Royal Bank of Canada boosted its holdings in Mineralys Therapeutics by 262.3% during the fourth quarter. Royal Bank of Canada now owns 1,529 shares of the company’s stock worth $56,000 after purchasing an additional 1,107 shares during the last quarter. FNY Investment Advisers LLC boosted 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 worth $67,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in Mineralys Therapeutics by 1,845.4% in 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 in the last quarter. 84.46% of the stock is owned by institutional investors.

Mineralys Therapeutics Trading Down 0.4%

NASDAQ MLYS opened at $25.65 on Friday. The company has a market cap of $2.27 billion, a PE ratio of -6.05 and a beta of 0.68. The company has a current ratio of 34.46, a quick ratio of 34.46 and a debt-to-equity ratio of 0.18. Mineralys Therapeutics, Inc. has a 12 month low of $14.53 and a 12 month high of $47.65. The stock has a 50 day moving average of $26.74 and a 200-day moving average of $27.33.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its 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). On average, equities research analysts anticipate that Mineralys Therapeutics, Inc. will post -4.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MLYS shares. Jefferies Financial Group reiterated a “hold” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. HC Wainwright restated a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. TD Cowen assumed coverage on Mineralys Therapeutics in a report on Monday, April 27th. They issued a “buy” rating for the company. Zacks Research downgraded Mineralys Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 13th. Finally, Wall Street Zen downgraded Mineralys Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Mineralys Therapeutics currently has an average rating of “Hold” and a consensus target price of $49.33.

Insider Activity

In other news, insider David Malcom Rodman sold 9,890 shares of Mineralys Therapeutics stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $23.81, for a total value of $235,480.90. Following the completion of the transaction, the insider owned 57,095 shares of the company’s stock, valued at $1,359,431.95. This trade represents a 14.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daphne Karydas sold 3,000 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $25.00, for a total transaction of $75,000.00. Following the transaction, the director owned 6,200 shares in the company, valued at $155,000. This represents a 32.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 216,896 shares of company stock worth $5,613,000. Insiders own 18.94% of the company’s stock.

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.