Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Shares Bought by Millennium Management LLC

Millennium Management LLC grew its holdings in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 15.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 526,974 shares of the company's stock after purchasing an additional 71,410 shares during the quarter. Millennium Management LLC owned approximately 1.10% of Mirum Pharmaceuticals worth $21,790,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AlphaQuest LLC boosted its stake in Mirum Pharmaceuticals by 969.6% during the 4th quarter. AlphaQuest LLC now owns 1,829 shares of the company's stock worth $76,000 after purchasing an additional 1,658 shares during the last quarter. Golden State Equity Partners boosted its stake in Mirum Pharmaceuticals by 1,390.8% during the 4th quarter. Golden State Equity Partners now owns 19,380 shares of the company's stock worth $801,000 after purchasing an additional 18,080 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Mirum Pharmaceuticals during the 4th quarter worth $277,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Mirum Pharmaceuticals during the 4th quarter valued at about $413,000. Finally, Empowered Funds LLC acquired a new position in shares of Mirum Pharmaceuticals during the 4th quarter valued at about $1,376,000.

Insider Buying and Selling

In related news, CEO Christopher Peetz sold 27,279 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $44.21, for a total transaction of $1,206,004.59. Following the completion of the sale, the chief executive officer now directly owns 138,641 shares of the company's stock, valued at $6,129,318.61. This trade represents a 16.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jolanda Howe sold 57,606 shares of the stock in a transaction on 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 of the company's stock, valued at approximately $214,698.35. This represents a 92.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,764 shares of company stock worth $4,109,161. Company insiders own 14.36% of the company's stock.

Mirum Pharmaceuticals Stock Down 0.1%

Shares of MIRM stock traded down $0.05 during trading hours on Monday, reaching $44.00. 164,520 shares of the stock were exchanged, compared to its average volume of 523,441. The business's fifty day moving average is $42.88 and its two-hundred day moving average is $44.66. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. Mirum Pharmaceuticals, Inc. has a 12-month low of $23.83 and a 12-month high of $54.23. The firm has a market capitalization of $2.18 billion, a P/E ratio of -21.78 and a beta of 0.95.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $111.59 million for the quarter, compared to analyst estimates of $98.47 million. During the same period in the prior year, the firm earned ($0.54) earnings per share. The business's quarterly revenue was up 61.2% compared to the same quarter last year. As a group, research analysts expect that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JMP Securities boosted 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. Raymond James reissued a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Tuesday, May 13th. Robert W. Baird boosted 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. Finally, HC Wainwright reissued a "buy" rating and set a $73.00 price target on shares of Mirum Pharmaceuticals in a research report on Monday, May 19th. Ten equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $60.73.

Mirum Pharmaceuticals 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.