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% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 526,974 shares of the company's stock after acquiring an additional 71,410 shares during the quarter. Millennium Management LLC owned about 1.10% of Mirum Pharmaceuticals worth $21,790,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. grew its holdings in shares of Mirum Pharmaceuticals by 8.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,155 shares of the company's stock valued at $172,000 after buying an additional 312 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Mirum Pharmaceuticals by 100.0% in the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the company's stock worth $30,000 after acquiring an additional 357 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its position in Mirum Pharmaceuticals by 2.9% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 17,200 shares of the company's stock worth $711,000 after acquiring an additional 487 shares during the period. Legato Capital Management LLC grew its stake in Mirum Pharmaceuticals by 7.9% during the 4th quarter. Legato Capital Management LLC now owns 13,395 shares of the company's stock valued at $554,000 after acquiring an additional 977 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Mirum Pharmaceuticals by 10.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,179 shares of the company's stock valued at $421,000 after purchasing an additional 1,003 shares during the period.

Insider Activity

In related news, COO Peter Radovich sold 7,879 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $44.21, for a total transaction of $348,330.59. Following the completion of the sale, the chief operating officer now owns 18,672 shares of the company's stock, valued at $825,489.12. This represents a 29.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Patrick J. Heron acquired 1,335 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $45.57 per share, with a total value of $60,835.95. Following the transaction, the director now directly 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. Over the last 90 days, insiders sold 92,764 shares of company stock valued at $4,109,161. 14.36% of the stock is owned by company insiders.

Mirum Pharmaceuticals Price Performance

NASDAQ MIRM opened at $45.34 on Wednesday. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.33. Mirum Pharmaceuticals, Inc. has a 12-month low of $23.83 and a 12-month high of $54.23. The company has a market capitalization of $2.25 billion, a PE ratio of -22.45 and a beta of 0.95. The firm's 50 day moving average is $42.97 and its 200-day moving average is $44.55.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued 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. The business had revenue of $111.59 million for the quarter, compared to the consensus estimate of $98.47 million. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The firm's revenue for the quarter was up 61.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.54) earnings per share. Equities research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on MIRM. HC Wainwright reissued a "buy" rating and set a $73.00 price objective on shares of Mirum Pharmaceuticals in a research report on Monday. Robert W. Baird increased their price objective on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. Raymond James reaffirmed a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Tuesday, May 13th. Finally, JMP Securities boosted their target price 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. Ten investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Mirum Pharmaceuticals currently has a consensus rating of "Buy" and an average target price 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.

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