GSA Capital Partners LLP Sells 13,664 Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Key Points

• GSA Capital Partners LLP reduced its stake in Mirum Pharmaceuticals by 25.2%, selling 13,664 shares and retaining ownership of 40,459 shares worth approximately $1.82 million.
• Despite some investors selling off shares, Federated Hermes Inc. increased its holdings by a staggering 9,440.4%, acquiring an additional 343,725 shares during the same period.
• Mirum Pharmaceuticals reported revenues of $111.59 million for the last quarter, significantly exceeding analysts' expectations of $98.47 million, while also beating EPS estimates.

GSA Capital Partners LLP reduced its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 25.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,459 shares of the company's stock after selling 13,664 shares during the period. GSA Capital Partners LLP owned approximately 0.08% of Mirum Pharmaceuticals worth $1,823,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MIRM. Summit Investment Advisors Inc. lifted 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 worth $172,000 after buying an additional 312 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Mirum Pharmaceuticals by 2.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,685 shares of the company's stock valued at $752,000 after buying an additional 339 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Mirum Pharmaceuticals by 3.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,998 shares of the company's stock valued at $495,000 after buying an additional 398 shares during the period. CWM LLC boosted its stake in shares of Mirum Pharmaceuticals by 259.4% in the first quarter. CWM LLC now owns 593 shares of the company's stock valued at $27,000 after buying an additional 428 shares during the period. Finally, Schonfeld Strategic Advisors LLC boosted its stake in shares of Mirum Pharmaceuticals by 2.9% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 17,200 shares of the company's stock valued at $711,000 after buying an additional 487 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MIRM. Evercore ISI reiterated an "outperform" rating on shares of Mirum Pharmaceuticals in a research note on Friday, July 11th. Wall Street Zen lowered Mirum Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Sunday, July 6th. HC Wainwright reaffirmed a "buy" rating and issued a $73.00 price objective on shares of Mirum Pharmaceuticals in a research note on Monday, May 19th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research note on Tuesday, May 13th. Finally, JMP Securities raised their price objective on Mirum Pharmaceuticals from $74.00 to $76.00 and gave the stock a "market outperform" rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $65.50.

Insider Activity

In other news, SVP Jolanda Howe sold 564 shares of Mirum Pharmaceuticals stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $48.25, for a total transaction of $27,213.00. Following the completion of the transaction, the senior vice president directly owned 2,903 shares in the company, valued at $140,069.75. This trade represents a 16.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 14.36% of the stock is owned by corporate insiders.

Mirum Pharmaceuticals Stock Up 0.8%

Shares of MIRM stock traded up $0.42 on Friday, reaching $52.10. 219,944 shares of the company were exchanged, compared to its average volume of 461,644. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -32.44 and a beta of 0.97. The company has a 50-day moving average of $49.55 and a 200-day moving average of $46.82. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.22 and a quick ratio of 3.04. Mirum Pharmaceuticals, Inc. has a one year low of $36.20 and a one year high of $54.78.

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. Mirum Pharmaceuticals had a negative return on equity of 33.63% and a negative net margin of 20.39%. The company 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. Mirum Pharmaceuticals's revenue for the quarter was up 61.2% on a year-over-year basis. Analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

About Mirum Pharmaceuticals

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.