Mirum Pharmaceuticals, Inc. $MIRM Shares Sold by Millennium Management LLC

Key Points

• Millennium Management LLC has reduced its shareholding in Mirum Pharmaceuticals by 9.0%, now owning 0.97% of the company, valued at approximately $21.59 million.
• Wall Street analysts are optimistic about Mirum Pharmaceuticals, with price targets for its shares ranging from $53.00 to $89.00, reflecting a consensus recommendation of "Buy."
• In its most recent earnings report, Mirum Pharmaceuticals beat expectations with a revenue of $127.79 million, a 64.1% year-over-year increase in quarterly revenue.

Millennium Management LLC lowered its holdings in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 9.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 479,299 shares of the company's stock after selling 47,675 shares during the quarter. Millennium Management LLC owned approximately 0.97% of Mirum Pharmaceuticals worth $21,592,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Frazier Life Sciences Management L.P. boosted its position in Mirum Pharmaceuticals by 3.4% during the first quarter. Frazier Life Sciences Management L.P. now owns 6,795,121 shares of the company's stock worth $306,120,000 after purchasing an additional 224,729 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Mirum Pharmaceuticals by 4.8% in the first quarter. Vanguard Group Inc. now owns 2,540,061 shares of the company's stock valued at $114,430,000 after acquiring an additional 115,327 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Mirum Pharmaceuticals by 46.7% in the fourth quarter. Nuveen Asset Management LLC now owns 722,155 shares of the company's stock valued at $29,861,000 after acquiring an additional 229,746 shares in the last quarter. Nuveen LLC purchased a new position in shares of Mirum Pharmaceuticals in the first quarter valued at approximately $29,495,000. Finally, Woodline Partners LP lifted its position in shares of Mirum Pharmaceuticals by 22.2% in the fourth quarter. Woodline Partners LP now owns 404,404 shares of the company's stock valued at $16,722,000 after acquiring an additional 73,399 shares in the last quarter.

Insider Transactions at Mirum Pharmaceuticals

In other news, Director Laura Brege sold 17,000 shares of Mirum Pharmaceuticals stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $74.40, for a total value of $1,264,800.00. Following the completion of the sale, the director directly owned 15,703 shares of the company's stock, valued at approximately $1,168,303.20. The trade was a 51.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Eric Bjerkholt sold 9,578 shares of Mirum Pharmaceuticals stock in a transaction on Friday, September 12th. The shares were sold at an average price of $76.01, for a total value of $728,023.78. Following the completion of the transaction, the chief financial officer owned 39,945 shares of the company's stock, valued at approximately $3,036,219.45. This trade represents a 19.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 117,619 shares of company stock valued at $7,313,448. Corporate insiders own 14.36% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MIRM shares. Raymond James Financial restated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 7th. HC Wainwright raised their target price on Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Wall Street Zen downgraded Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 25th. Stifel Nicolaus set a $89.00 price target on Mirum Pharmaceuticals and gave the company a "buy" rating in a report on Monday, August 11th. Finally, JMP Securities set a $81.00 price target on Mirum Pharmaceuticals and gave the company a "market outperform" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat.com, Mirum Pharmaceuticals currently has a consensus rating of "Buy" and an average target price of $74.44.

Mirum Pharmaceuticals Trading Down 0.5%

MIRM stock traded down $0.40 during midday trading on Tuesday, hitting $73.79. 413,818 shares of the company's stock were exchanged, compared to its average volume of 524,092. Mirum Pharmaceuticals, Inc. has a 1-year low of $36.86 and a 1-year high of $78.10. The company has a current ratio of 3.13, a quick ratio of 2.97 and a debt-to-equity ratio of 1.21. The business has a 50-day simple moving average of $62.66 and a two-hundred day simple moving average of $51.11. The stock has a market capitalization of $3.71 billion, a PE ratio of -60.98 and a beta of 0.92.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, beating analysts' consensus estimates of ($0.31) by $0.19. Mirum Pharmaceuticals had a negative return on equity of 24.76% and a negative net margin of 13.65%.The business had revenue of $127.79 million during the quarter, compared to analysts' expectations of $107.91 million. During the same period in the previous year, the firm posted ($0.52) earnings per share. The company's revenue was up 64.1% on a year-over-year basis. On average, sell-side analysts predict that Mirum Pharmaceuticals, Inc. will post -1.43 EPS 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.