Woodline Partners LP Increases Stock Holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Woodline Partners LP grew its holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 22.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 404,404 shares of the company's stock after purchasing an additional 73,399 shares during the quarter. Woodline Partners LP owned approximately 0.84% of Mirum Pharmaceuticals worth $16,722,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MIRM. Squarepoint Ops LLC purchased a new position in shares of Mirum Pharmaceuticals in the 4th quarter worth approximately $897,000. Tema Etfs LLC purchased a new position in shares of Mirum Pharmaceuticals in the 4th quarter worth approximately $1,735,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Mirum Pharmaceuticals in the 4th quarter worth approximately $35,000. ProShare Advisors LLC grew its position in shares of Mirum Pharmaceuticals by 31.5% in the 4th quarter. ProShare Advisors LLC now owns 13,457 shares of the company's stock worth $556,000 after buying an additional 3,227 shares during the last quarter. Finally, MPM Bioimpact LLC grew its position in shares of Mirum Pharmaceuticals by 19.7% in the 4th quarter. MPM Bioimpact LLC now owns 589,579 shares of the company's stock worth $24,379,000 after buying an additional 96,856 shares during the last quarter.

Mirum Pharmaceuticals Stock Performance

NASDAQ MIRM traded up $0.21 on Tuesday, hitting $44.21. 56,288 shares of the company's stock traded hands, compared to its average volume of 482,335. The firm's 50-day moving average price is $42.88 and its two-hundred day moving average price is $44.66. Mirum Pharmaceuticals, Inc. has a 1-year low of $23.83 and a 1-year high of $54.23. The firm has a market capitalization of $2.19 billion, a PE ratio of -21.88 and a beta of 0.95. 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 (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $111.59 million for the quarter, compared to the consensus estimate of $98.47 million. During the same period in the prior year, the firm posted ($0.54) earnings per share. The firm's quarterly revenue was up 61.2% compared to the same quarter last year. As a group, analysts expect that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current year.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, Director Patrick J. Heron bought 1,335 shares of Mirum Pharmaceuticals stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $45.57 per share, for a total transaction of $60,835.95. Following the completion of the transaction, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jolanda Howe sold 57,606 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $44.35, for a total transaction of $2,554,826.10. Following the completion of the sale, the senior vice president now owns 4,841 shares of the company's stock, valued at $214,698.35. This trade represents a 92.25% 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. Company insiders own 14.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MIRM. Raymond James reaffirmed a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Tuesday, May 13th. HC Wainwright reaffirmed a "buy" rating and issued a $73.00 price objective on shares of Mirum Pharmaceuticals in a research report on Monday, May 19th. Robert W. Baird lifted their price objective on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Finally, JMP Securities boosted 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 investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average 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.