Tudor Investment Corp ET AL Takes $2.03 Million Position in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Tudor Investment Corp established a new stake in Mirum Pharmaceuticals, buying 27,654 shares worth about $2.03 million, representing roughly 0.05% ownership.
• Insiders have been net sellers, offloading 121,942 shares (~$11.4 million) over the last quarter (COO Peter Radovich and others reduced holdings), though insiders still own 22.87% of the company.
• Mirum reported a miss on EPS (‑$0.11 vs. $0.02 est.) but revenue rose 49.8% to $148.9 million; the stock has a market cap of $5.74 billion and a consensus analyst rating of "Moderate Buy" with a $117.67 price target.

Tudor Investment Corp ET AL bought a new stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 27,654 shares of the company's stock, valued at approximately $2,027,000. Tudor Investment Corp ET AL owned 0.05% of Mirum Pharmaceuticals as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MCF Advisors LLC raised its position in Mirum Pharmaceuticals by 76.4% in the third quarter. MCF Advisors LLC now owns 427 shares of the company's stock valued at $31,000 after purchasing an additional 185 shares during the period. Quantbot Technologies LP purchased a new stake in Mirum Pharmaceuticals in the third quarter valued at approximately $33,000. Comerica Bank raised its position in Mirum Pharmaceuticals by 45.1% in the first quarter. Comerica Bank now owns 895 shares of the company's stock valued at $40,000 after purchasing an additional 278 shares during the period. Quarry LP purchased a new stake in Mirum Pharmaceuticals in the third quarter valued at approximately $41,000. Finally, CWM LLC raised its position in Mirum Pharmaceuticals by 30.8% in the third quarter. CWM LLC now owns 683 shares of the company's stock valued at $50,000 after purchasing an additional 161 shares during the period.

Mirum Pharmaceuticals Stock Performance

NASDAQ:MIRM opened at $95.20 on Monday. The company has a fifty day simple moving average of $95.91 and a two-hundred day simple moving average of $83.23. The company has a market cap of $5.74 billion, a price-to-earnings ratio of -198.33 and a beta of 0.51. The company has a quick ratio of 2.55, a current ratio of 2.67 and a debt-to-equity ratio of 0.98. Mirum Pharmaceuticals, Inc. has a 52 week low of $37.83 and a 52 week high of $109.28.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.13). The business had revenue of $148.93 million during the quarter, compared to analyst estimates of $141.78 million. Mirum Pharmaceuticals had a negative return on equity of 8.53% and a negative net margin of 4.48%.The business's revenue was up 49.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.00 EPS. As a group, equities analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

MIRM has been the topic of a number of research analyst reports. Morgan Stanley boosted their target price on Mirum Pharmaceuticals from $95.00 to $123.00 and gave the company an "overweight" rating in a research report on Friday, January 30th. Leerink Partners cut their target price on Mirum Pharmaceuticals from $120.00 to $118.00 and set an "outperform" rating on the stock in a research report on Thursday, February 26th. Citizens Jmp cut their target price on Mirum Pharmaceuticals from $140.00 to $132.00 and set a "market outperform" rating on the stock in a research report on Thursday, February 26th. Royal Bank Of Canada cut their target price on Mirum Pharmaceuticals from $130.00 to $128.00 and set an "outperform" rating on the stock in a research report on Thursday, February 26th. Finally, TD Cowen boosted their target price on Mirum Pharmaceuticals from $117.00 to $125.00 and gave the company a "buy" rating in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $117.67.

Insiders Place Their Bets

In related news, COO Peter Radovich sold 16,515 shares of the business's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $91.98, for a total transaction of $1,519,049.70. Following the completion of the transaction, the chief operating officer owned 40,272 shares in the company, valued at approximately $3,704,218.56. The trade was a 29.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joanne Quan sold 7,287 shares of the business's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $91.98, for a total transaction of $670,258.26. Following the transaction, the insider owned 18,864 shares of the company's stock, valued at approximately $1,735,110.72. The trade was a 27.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 121,942 shares of company stock valued at $11,416,645. Corporate insiders own 22.87% of the company's stock.

Mirum Pharmaceuticals Profile

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company's primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum's lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.

Want to see what other hedge funds are holding MIRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.