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 cut its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 9.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 479,299 shares of the company's stock after selling 47,675 shares during the quarter. Millennium Management LLC owned 0.97% of Mirum Pharmaceuticals worth $21,592,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MIRM. CWM LLC raised its holdings in Mirum Pharmaceuticals by 259.4% during the first quarter. CWM LLC now owns 593 shares of the company's stock worth $27,000 after purchasing an additional 428 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Mirum Pharmaceuticals during the fourth quarter worth $35,000. Comerica Bank increased its position in Mirum Pharmaceuticals by 45.1% during the first quarter. Comerica Bank now owns 895 shares of the company's stock worth $40,000 after buying an additional 278 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Mirum Pharmaceuticals during the fourth quarter worth $42,000. Finally, Quarry LP purchased a new position in Mirum Pharmaceuticals during the first quarter worth $56,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MIRM shares. Stifel Nicolaus set a $89.00 price target on Mirum Pharmaceuticals and gave the stock a "buy" rating in a research report on Monday, August 11th. JPMorgan Chase & Co. raised their price target on Mirum Pharmaceuticals from $53.00 to $77.00 and gave the stock an "overweight" rating in a research report on Friday, September 12th. JMP Securities set a $81.00 price target on Mirum Pharmaceuticals and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. Raymond James Financial reissued a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 7th. Finally, Wall Street Zen downgraded Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. Based on data from MarketBeat, Mirum Pharmaceuticals currently has a consensus rating of "Buy" and a consensus target price of $74.44.

Insider Transactions at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 40,000 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $62.00, for a total transaction of $2,480,000.00. Following the completion of the sale, the chief executive officer owned 138,641 shares of the company's stock, valued at approximately $8,595,742. The trade was a 22.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jolanda Howe sold 10,000 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $58.00, for a total value of $580,000.00. Following the sale, the senior vice president directly owned 2,426 shares of the company's stock, valued at approximately $140,708. This trade represents a 80.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 117,619 shares of company stock worth $7,313,448 in the last three months. 14.36% of the stock is currently owned by insiders.

Mirum Pharmaceuticals Trading Up 3.0%

MIRM stock traded up $2.18 during trading on Thursday, reaching $75.32. 704,173 shares of the stock traded hands, compared to its average volume of 671,668. The business's 50 day moving average price is $63.98 and its 200-day moving average price is $51.62. Mirum Pharmaceuticals, Inc. has a 52-week low of $36.88 and a 52-week high of $78.10. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.13 and a quick ratio of 2.97. The firm has a market capitalization of $3.78 billion, a PE ratio of -62.25 and a beta of 0.92.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share (EPS) 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 firm had revenue of $127.79 million during the quarter, compared to the consensus estimate of $107.91 million. During the same quarter in the previous year, the business earned ($0.52) earnings per share. The firm's quarterly revenue was up 64.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current 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.