Velan Capital Investment Management LP Makes New Investment in Mineralys Therapeutics, Inc. $MLYS

Key Points

• Velan Capital Investment Management LP has invested approximately $2.39 million in Mineralys Therapeutics, acquiring 150,600 shares and making it the firm’s 13th largest holding.
• Up to 84.46% of Mineralys Therapeutics stock is owned by institutional investors, indicating strong interest from professional asset managers.
• The stock has a current average price target of $34.40 and is rated as a "Moderate Buy" by analysts, with varied price objectives ranging from $15.00 to $48.00.

Velan Capital Investment Management LP purchased a new position in Mineralys Therapeutics, Inc. (NASDAQ:MLYS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 150,600 shares of the company's stock, valued at approximately $2,392,000. Mineralys Therapeutics makes up about 2.5% of Velan Capital Investment Management LP's holdings, making the stock its 13th largest position. Velan Capital Investment Management LP owned approximately 0.23% of Mineralys Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. increased its holdings in shares of Mineralys Therapeutics by 297.5% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,590 shares of the company's stock valued at $25,000 after acquiring an additional 1,190 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Mineralys Therapeutics in the 4th quarter valued at $48,000. ProShare Advisors LLC acquired a new position in shares of Mineralys Therapeutics in the 4th quarter valued at $128,000. CWM LLC increased its holdings in shares of Mineralys Therapeutics by 59.3% in the 1st quarter. CWM LLC now owns 8,342 shares of the company's stock valued at $132,000 after acquiring an additional 3,105 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Mineralys Therapeutics by 9,602.2% in the 1st quarter. GAMMA Investing LLC now owns 8,829 shares of the company's stock valued at $140,000 after acquiring an additional 8,738 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Mineralys Therapeutics

In other Mineralys Therapeutics news, CFO Adam Scott Levy sold 59,925 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $14.76, for a total value of $884,493.00. Following the completion of the sale, the chief financial officer owned 132,934 shares of the company's stock, valued at $1,962,105.84. This trade represents a 31.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Malcom Rodman sold 11,365 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $12.93, for a total transaction of $146,949.45. Following the completion of the sale, the insider directly owned 92,891 shares of the company's stock, valued at $1,201,080.63. This trade represents a 10.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 123,051 shares of company stock valued at $1,776,262 over the last 90 days. 33.24% of the stock is owned by corporate insiders.

Mineralys Therapeutics Stock Performance

MLYS traded up $13.38 on Tuesday, reaching $28.86. 15,665,703 shares of the company's stock were exchanged, compared to its average volume of 969,181. The company's 50 day moving average is $14.19 and its 200-day moving average is $13.96. The company has a market cap of $1.91 billion, a price-to-earnings ratio of -8.11 and a beta of -0.29. Mineralys Therapeutics, Inc. has a twelve month low of $8.24 and a twelve month high of $30.14.

Mineralys Therapeutics (NASDAQ:MLYS - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.78) by $0.12. Sell-side analysts forecast that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Analysts Set New Price Targets

MLYS has been the topic of several research analyst reports. HC Wainwright restated a "buy" rating and set a $42.00 target price on shares of Mineralys Therapeutics in a research report on Wednesday, August 13th. Bank of America boosted their price objective on shares of Mineralys Therapeutics from $38.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Wall Street Zen upgraded shares of Mineralys Therapeutics from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. Jefferies Financial Group initiated coverage on shares of Mineralys Therapeutics in a research report on Tuesday, June 10th. They issued a "hold" rating and a $15.00 price objective on the stock. Finally, Guggenheim set a $48.00 price objective on shares of Mineralys Therapeutics and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.40.

Mineralys Therapeutics Company 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.