Two Sigma Advisers LP Sells 31,100 Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Two Sigma Advisers LP lowered its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 15.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174,400 shares of the company's stock after selling 31,100 shares during the period. Two Sigma Advisers LP owned about 0.36% of Mirum Pharmaceuticals worth $7,211,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its position in Mirum Pharmaceuticals by 100.0% during the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the company's stock valued at $30,000 after buying an additional 357 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Mirum Pharmaceuticals during the fourth quarter valued at about $35,000. R Squared Ltd bought a new position in Mirum Pharmaceuticals during the fourth quarter valued at about $69,000. AlphaQuest LLC grew its position in Mirum Pharmaceuticals by 969.6% during the fourth quarter. AlphaQuest LLC now owns 1,829 shares of the company's stock valued at $76,000 after buying an additional 1,658 shares during the period. Finally, Summit Investment Advisors Inc. grew its position in 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 during the period.

Insider Activity

In other news, SVP Jolanda Howe sold 57,606 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $44.35, for a total value of $2,554,826.10. Following the completion of the transaction, the senior vice president now directly owns 4,841 shares in the company, valued at approximately $214,698.35. This trade represents a 92.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Peetz sold 27,279 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $44.21, for a total transaction of $1,206,004.59. Following the sale, the chief executive officer now owns 138,641 shares of the company's stock, valued at approximately $6,129,318.61. The trade was a 16.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,764 shares of company stock worth $4,109,161. 14.36% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on MIRM. Robert W. Baird increased their price target on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. HC Wainwright restated a "buy" rating and set a $73.00 price target on shares of Mirum Pharmaceuticals in a research report on Monday, May 19th. JMP Securities increased 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. Finally, Raymond James reiterated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Tuesday, May 13th. Ten equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $60.73.

Mirum Pharmaceuticals Price Performance

Shares of MIRM stock traded up $0.57 during trading hours on Thursday, reaching $44.30. The stock had a trading volume of 130,785 shares, compared to its average volume of 518,696. The stock's fifty day simple moving average is $42.74 and its 200 day simple moving average is $44.64. The company has a current ratio of 3.34, a quick ratio of 3.15 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 firm has a market capitalization of $2.19 billion, a PE ratio of -21.95 and a beta of 0.95.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly earnings data 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 company had revenue of $111.59 million during the quarter, compared to analyst estimates of $98.47 million. During the same period last year, the business earned ($0.54) earnings per share. Mirum Pharmaceuticals's revenue was up 61.2% compared to the same quarter last year. On average, equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.43 EPS 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.