Avidity Partners Management LP Sells 64,904 Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Avidity Partners Management LP trimmed its holdings in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 8.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 666,200 shares of the company’s stock after selling 64,904 shares during the quarter. Mirum Pharmaceuticals accounts for about 2.7% of Avidity Partners Management LP’s portfolio, making the stock its 13th largest position. Avidity Partners Management LP owned 1.39% of Mirum Pharmaceuticals worth $27,547,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp lifted its position in shares of Mirum Pharmaceuticals by 100.0% in the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the company’s stock worth $30,000 after purchasing an additional 357 shares during the period. R Squared Ltd acquired a new stake in shares of Mirum Pharmaceuticals in the 4th quarter worth about $69,000. AlphaQuest LLC lifted its holdings in shares of Mirum Pharmaceuticals by 969.6% in the fourth quarter. AlphaQuest LLC now owns 1,829 shares of the company’s stock valued at $76,000 after purchasing an additional 1,658 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in Mirum Pharmaceuticals by 8.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,155 shares of the company’s stock worth $172,000 after acquiring an additional 312 shares during the last quarter. Finally, Avanza Fonder AB purchased a new position in Mirum Pharmaceuticals during the fourth quarter worth about $189,000.

Insider Buying and Selling at Mirum Pharmaceuticals

In related news, COO Peter Radovich sold 2,627 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $48.22, for a total transaction of $126,673.94. Following the sale, the chief operating officer now directly owns 26,961 shares in the company, valued at approximately $1,300,059.42. The trade was a 8.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jolanda Howe sold 57,606 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $44.35, for a total value of $2,554,826.10. Following the sale, the senior vice president now directly owns 4,841 shares in the company, valued at $214,698.35. This trade represents a 92.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 105,557 shares of company stock valued at $4,726,040 in the last 90 days. 22.87% of the stock is currently owned by company insiders.

Mirum Pharmaceuticals Trading Up 0.6 %

Shares of MIRM opened at $43.69 on Friday. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $23.83 and a fifty-two week high of $54.23. The business has a 50-day moving average of $43.23 and a 200 day moving average of $44.13. The firm has a market cap of $2.16 billion, a P/E ratio of -21.63 and a beta of 1.00. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Wednesday, February 26th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.22). The business had revenue of $99.41 million during the quarter, compared to analysts’ expectations of $96.64 million. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. As a group, research analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MIRM shares. Robert W. Baird increased their price target on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. HC Wainwright lifted their target price on Mirum Pharmaceuticals from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Mirum Pharmaceuticals currently has an average rating of “Buy” and an average target price of $58.20.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.