Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Stock Position Lessened by Penn Capital Management Company LLC

Penn Capital Management Company LLC decreased its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 10.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 278,427 shares of the company's stock after selling 30,817 shares during the period. Penn Capital Management Company LLC owned about 0.58% of Mirum Pharmaceuticals worth $11,513,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MIRM. Jones Financial Companies Lllp lifted its position in shares of Mirum Pharmaceuticals by 100.0% in the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the company's stock valued at $30,000 after acquiring an additional 357 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Mirum Pharmaceuticals during the 4th quarter worth about $69,000. AlphaQuest LLC grew its holdings in shares of Mirum Pharmaceuticals by 969.6% during the fourth quarter. AlphaQuest LLC now owns 1,829 shares of the company's stock worth $76,000 after buying an additional 1,658 shares in the last quarter. Summit Investment Advisors Inc. raised its position in shares of Mirum Pharmaceuticals by 8.1% in 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 last quarter. Finally, Avanza Fonder AB purchased a new position in shares of Mirum Pharmaceuticals during the fourth quarter valued at approximately $189,000.

Mirum Pharmaceuticals Stock Up 3.4 %

Shares of MIRM traded up $1.43 during midday trading on Tuesday, reaching $42.74. 140,471 shares of the company were exchanged, compared to its average volume of 520,148. 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. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -21.16 and a beta of 1.00. The stock has a 50-day moving average price of $43.90 and a 200-day moving average price of $44.06.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.22). The firm had revenue of $99.41 million during the quarter, compared to analysts' expectations of $96.64 million. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. Research analysts expect that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 9,102 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $48.22, for a total transaction of $438,898.44. Following the completion of the transaction, the chief executive officer now directly owns 115,920 shares of the company's stock, valued at $5,589,662.40. This trade represents a 7.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jolanda Howe sold 1,064 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $48.22, for a total value of $51,306.08. Following the completion of the transaction, the senior vice president now owns 4,232 shares of the company's stock, valued at $204,067.04. This trade represents a 20.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 105,557 shares of company stock valued at $4,726,040. Insiders own 22.87% of the company's stock.

Analyst Upgrades and Downgrades

MIRM has been the topic of a number of recent analyst reports. Robert W. Baird increased their price target on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. HC Wainwright upped their price target on shares of Mirum Pharmaceuticals from $66.00 to $72.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $58.20.

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.