Tang Capital Management LLC Decreases Stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Tang Capital Management LLC reduced its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,237,107 shares of the company's stock after selling 50,000 shares during the period. Mirum Pharmaceuticals makes up approximately 3.4% of Tang Capital Management LLC's investment portfolio, making the stock its 5th biggest position. Tang Capital Management LLC owned 2.58% of Mirum Pharmaceuticals worth $51,154,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. MPM Bioimpact LLC grew its position in Mirum Pharmaceuticals by 19.7% in the fourth quarter. MPM Bioimpact LLC now owns 589,579 shares of the company's stock valued at $24,379,000 after acquiring an additional 96,856 shares during the last quarter. AlphaQuest LLC increased its position 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 in the last quarter. Golden State Equity Partners increased its position 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 in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Mirum Pharmaceuticals in the fourth quarter valued at approximately $277,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Mirum Pharmaceuticals in the fourth quarter valued at approximately $413,000.

Mirum Pharmaceuticals Trading Down 0.5%

Mirum Pharmaceuticals stock traded down $0.23 during mid-day trading on Friday, hitting $43.82. 35,319 shares of the stock were exchanged, compared to its average volume of 522,038. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -21.65 and a beta of 0.95. Mirum Pharmaceuticals, Inc. has a 12 month low of $23.83 and a 12 month high of $54.23. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.33. The firm's fifty day simple moving average is $42.95 and its two-hundred day simple moving average is $44.57.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced 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 during 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%. Mirum Pharmaceuticals's quarterly revenue was up 61.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.54) earnings per share. Analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current year.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, Director Patrick J. Heron acquired 1,335 shares of the stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $45.57 per share, for a total transaction of $60,835.95. Following the completion of the acquisition, the director now owns 163,643 shares in the company, valued at approximately $7,457,211.51. This represents a 0.82% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jolanda Howe sold 57,606 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $44.35, for a total transaction 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. The trade was a 92.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,764 shares of company stock worth $4,109,161 in the last 90 days. Corporate insiders own 14.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MIRM. HC Wainwright reiterated a "buy" rating and issued a $73.00 price target on shares of Mirum Pharmaceuticals in a research note on Monday. Robert W. Baird boosted their price target 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 note on Tuesday, May 13th. Finally, JMP Securities lifted 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 analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock 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.