Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Holdings Reduced by Tang Capital Management LLC

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Mirum Pharmaceuticals in the 4th quarter worth about $10,611,000. Nuveen Asset Management LLC raised its holdings in Mirum Pharmaceuticals by 46.7% in the fourth quarter. Nuveen Asset Management LLC now owns 722,155 shares of the company's stock worth $29,861,000 after buying an additional 229,746 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new position in shares of Mirum Pharmaceuticals in the fourth quarter worth approximately $6,507,000. Marshall Wace LLP grew its holdings in shares of Mirum Pharmaceuticals by 641.6% during the fourth quarter. Marshall Wace LLP now owns 175,913 shares of the company's stock valued at $7,274,000 after buying an additional 152,191 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Mirum Pharmaceuticals by 10.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,422,729 shares of the company's stock valued at $58,831,000 after acquiring an additional 138,623 shares in the last quarter.

Analyst Upgrades and Downgrades

MIRM has been the topic of several analyst reports. Robert W. Baird upped their price objective on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Raymond James reissued a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Tuesday, May 13th. HC Wainwright restated a "buy" rating and set a $73.00 target price on shares of Mirum Pharmaceuticals in a research note on Monday. Finally, JMP Securities lifted their price target on shares of Mirum Pharmaceuticals from $74.00 to $76.00 and gave the stock a "market outperform" rating in a research note on Friday, May 9th. Ten research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $60.73.

Mirum Pharmaceuticals Stock Performance

Shares of NASDAQ MIRM traded down $1.03 during midday trading on Wednesday, hitting $44.31. 322,751 shares of the company's stock traded hands, compared to its average volume of 524,211. The firm has a fifty day moving average of $42.97 and a 200 day moving average of $44.55. Mirum Pharmaceuticals, Inc. has a 1 year low of $23.83 and a 1 year high of $54.23. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -21.94 and a beta of 0.95.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.30) EPS for the quarter, beating 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 business had revenue of $111.59 million during the quarter, compared to analysts' expectations of $98.47 million. During the same period in the prior year, the company earned ($0.54) earnings per share. The firm's revenue was up 61.2% on a year-over-year basis. On average, analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

Insider Activity

In other news, COO Peter Radovich sold 7,879 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $44.21, for a total value of $348,330.59. Following the transaction, the chief operating officer now owns 18,672 shares of the company's stock, valued at $825,489.12. This trade represents a 29.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patrick J. Heron purchased 1,335 shares of the stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $45.57 per share, for a total transaction of $60,835.95. Following the acquisition, the director now directly owns 163,643 shares of the company's stock, valued at approximately $7,457,211.51. This represents a 0.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 92,764 shares of company stock valued at $4,109,161 in the last 90 days. Company insiders own 14.36% of the company's stock.

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.