Balyasny Asset Management L.P. Takes $775,000 Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Balyasny Asset Management L.P. bought a new position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,733 shares of the company's stock, valued at approximately $775,000.

Several other hedge funds have also modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted 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 last quarter. Geode Capital Management LLC boosted 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 last quarter. Clearbridge Investments LLC boosted 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 last quarter. Lord Abbett & CO. LLC boosted 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 last quarter. Finally, Loomis Sayles & Co. L P boosted its position in shares of Mirum Pharmaceuticals by 15.8% in the fourth quarter. Loomis Sayles & Co. L P now owns 578,024 shares of the company's stock worth $23,901,000 after acquiring an additional 78,708 shares during the last quarter.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 57,606 shares of Mirum Pharmaceuticals stock in a transaction on Monday, March 17th. The shares were sold at an average price of $44.35, for a total value of $2,554,826.10. Following the completion of the transaction, the senior vice president now owns 4,841 shares of the company's stock, valued at $214,698.35. The trade was a 92.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Patrick J. Heron acquired 1,335 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $45.57 per share, with a total value of $60,835.95. Following the acquisition, the director now owns 163,643 shares of the company's stock, valued at $7,457,211.51. This trade represents a 0.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 92,764 shares of company stock valued at $4,109,161 over the last 90 days. 14.36% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on MIRM. Raymond James reissued a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Tuesday, May 13th. HC Wainwright lifted their price target on shares of Mirum Pharmaceuticals from $66.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, February 28th. JMP Securities lifted their price target on shares of Mirum Pharmaceuticals from $74.00 to $76.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. Finally, Robert W. Baird lifted their price target on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Ten research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $60.64.

Mirum Pharmaceuticals Stock Down 0.6%

Shares of NASDAQ:MIRM traded down $0.27 during midday trading on Friday, reaching $45.01. The company had a trading volume of 219,847 shares, compared to its average volume of 524,834. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. The stock's fifty day moving average price is $42.96 and its 200-day moving average price is $44.47. The stock has a market capitalization of $2.23 billion, a P/E ratio of -22.28 and a beta of 0.95. Mirum Pharmaceuticals, Inc. has a one year low of $23.83 and a one year high of $54.23.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.35) by $0.05. The business had revenue of $111.59 million during the quarter, compared to analyst estimates of $98.47 million. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The business's revenue was up 61.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.54) earnings per share. Equities research analysts expect that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

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.