Prosight Management LP Has $18.65 Million Stock Holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Prosight Management LP lowered its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 3.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 451,127 shares of the company's stock after selling 14,698 shares during the quarter. Mirum Pharmaceuticals accounts for approximately 5.2% of Prosight Management LP's investment portfolio, making the stock its 7th biggest holding. Prosight Management LP owned 0.94% of Mirum Pharmaceuticals worth $18,654,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC increased its stake in shares of Mirum Pharmaceuticals by 4.6% during the 3rd quarter. Barclays PLC now owns 245,918 shares of the company's stock worth $9,592,000 after purchasing an additional 10,824 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of Mirum Pharmaceuticals by 25.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 145,599 shares of the company's stock worth $6,021,000 after purchasing an additional 29,545 shares during the last quarter. Avanza Fonder AB purchased a new stake in shares of Mirum Pharmaceuticals during the 4th quarter worth approximately $189,000. Secure Asset Management LLC increased its stake in shares of Mirum Pharmaceuticals by 9.3% during the 4th quarter. Secure Asset Management LLC now owns 39,920 shares of the company's stock worth $1,651,000 after purchasing an additional 3,406 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Mirum Pharmaceuticals during the 4th quarter worth approximately $69,000.

Insider Activity

In other news, SVP Jolanda Howe sold 57,606 shares of Mirum Pharmaceuticals stock in a transaction on 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher Peetz sold 27,279 shares of Mirum Pharmaceuticals stock in a transaction on Monday, March 17th. The stock was 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 directly owns 138,641 shares of the company's stock, valued at $6,129,318.61. This represents a 16.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,764 shares of company stock worth $4,109,161 in the last three months. Corporate insiders own 14.36% of the company's stock.

Mirum Pharmaceuticals Price Performance

Shares of MIRM traded down $0.27 during mid-day trading on Friday, reaching $45.01. 219,847 shares of the stock traded hands, compared to its average volume of 524,834. The firm has a fifty day moving average price of $42.96 and a 200 day moving average price of $44.47. The company has a market cap of $2.23 billion, a price-to-earnings ratio of -22.28 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, Inc. has a 1 year low of $23.83 and a 1 year high of $54.23.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly 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. The firm had revenue of $111.59 million during the quarter, compared to analyst estimates of $98.47 million. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The business's revenue for the quarter was up 61.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.54) EPS. As a group, equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

Analysts Set New Price Targets

MIRM has been the subject of several research analyst reports. HC Wainwright raised their price target on shares of Mirum Pharmaceuticals from $66.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. JMP Securities lifted their price objective on shares of Mirum Pharmaceuticals from $74.00 to $76.00 and gave the company a "market outperform" rating in a research note on Friday, May 9th. Robert W. Baird lifted their price objective on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Finally, Raymond James reiterated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research note on Tuesday, May 13th. Ten investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Mirum Pharmaceuticals presently has an average rating of "Buy" and an average price target of $60.64.

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.