Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Shares Sold by Tang Capital Management LLC

Tang Capital Management LLC cut its holdings in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,237,107 shares of the company’s stock after selling 50,000 shares during the period. Mirum Pharmaceuticals comprises approximately 3.4% of Tang Capital Management LLC’s investment portfolio, making the stock its 5th biggest holding. Tang Capital Management LLC owned approximately 2.58% of Mirum Pharmaceuticals worth $51,154,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its position in Mirum Pharmaceuticals by 2.3% during the fourth quarter. Janus Henderson Group PLC now owns 4,581,642 shares of the company’s stock valued at $189,481,000 after purchasing an additional 101,358 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Mirum Pharmaceuticals by 10.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,422,729 shares of the company’s stock worth $58,831,000 after acquiring an additional 138,623 shares during the period. Geode Capital Management LLC raised its position in shares of Mirum Pharmaceuticals by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 943,344 shares of the company’s stock worth $39,016,000 after acquiring an additional 7,147 shares during the period. Clearbridge Investments LLC raised its position in shares of Mirum Pharmaceuticals by 2.0% in the fourth quarter. Clearbridge Investments LLC now owns 907,317 shares of the company’s stock worth $37,518,000 after acquiring an additional 18,217 shares during the period. Finally, Lord Abbett & CO. LLC raised its position in shares of Mirum Pharmaceuticals by 5.5% in the fourth quarter. Lord Abbett & CO. LLC now owns 782,354 shares of the company’s stock worth $32,350,000 after acquiring an additional 40,986 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MIRM shares. Raymond James reiterated a “strong-buy” rating on shares of Mirum Pharmaceuticals in a research report on Tuesday. JMP Securities upped their price objective on shares of Mirum Pharmaceuticals from $74.00 to $76.00 and gave the stock a “market outperform” rating in a research report on Friday, May 9th. Robert W. Baird upped their price objective on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Finally, HC Wainwright upped their price objective on shares of Mirum Pharmaceuticals from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Ten equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Mirum Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $60.64.

Mirum Pharmaceuticals Stock Down 0.6%

MIRM stock opened at $45.01 on Friday. The firm has a 50-day moving average of $42.96 and a two-hundred day moving average of $44.47. Mirum Pharmaceuticals, Inc. has a 12 month low of $23.83 and a 12 month high of $54.23. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.33. The company has a market cap of $2.23 billion, a price-to-earnings ratio of -22.28 and a beta of 0.95.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.05. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The business had revenue of $111.59 million during the quarter, compared to analysts’ expectations of $98.47 million. During the same quarter in the prior year, the company posted ($0.54) EPS. The business’s revenue for the quarter was up 61.2% on a year-over-year basis. As a group, analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

Insider Activity

In other Mirum Pharmaceuticals news, Director Patrick J. Heron purchased 1,335 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $45.57 per share, for a total transaction of $60,835.95. Following the completion of the purchase, the director now directly owns 163,643 shares in the company, valued at approximately $7,457,211.51. The trade was a 0.82% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Peter Radovich sold 7,879 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $44.21, for a total transaction of $348,330.59. Following the completion of the transaction, the chief operating officer now owns 18,672 shares of the company’s stock, valued at approximately $825,489.12. This trade represents a 29.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,764 shares of company stock valued at $4,109,161 in the last 90 days. Company insiders own 14.36% of the company’s stock.

Mirum Pharmaceuticals Company Profile

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.