Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) is Tang Capital Management LLC’s 5th Largest Position

Tang Capital Management LLC reduced its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 3.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,237,107 shares of the company’s stock after selling 50,000 shares during the period. Mirum Pharmaceuticals comprises about 3.4% of Tang Capital Management LLC’s holdings, making the stock its 5th largest position. Tang Capital Management LLC’s holdings in Mirum Pharmaceuticals were worth $51,154,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MIRM. Jones Financial Companies Lllp raised its holdings 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 buying an additional 357 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Mirum Pharmaceuticals in the fourth quarter valued at about $35,000. R Squared Ltd purchased a new stake in shares of Mirum Pharmaceuticals in the fourth quarter valued at about $69,000. AlphaQuest LLC raised its holdings in shares of Mirum Pharmaceuticals by 969.6% in 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 last quarter. Finally, Summit Investment Advisors Inc. raised its holdings 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.

Mirum Pharmaceuticals Trading Down 0.6%

Shares of Mirum Pharmaceuticals stock opened at $45.01 on Friday. Mirum Pharmaceuticals, Inc. has a 52-week low of $23.83 and a 52-week high of $54.23. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.33. The company’s 50-day simple moving average is $42.96 and its 200-day simple moving average is $44.47. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -22.28 and a beta of 0.95.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Wednesday, May 14th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $98.47 million. During the same period in the prior year, the business posted ($0.54) earnings per share. The firm’s revenue for the quarter was up 61.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 27,279 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 138,641 shares in the company, valued at approximately $6,129,318.61. This represents a 16.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Peter Radovich sold 7,879 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $44.21, for a total transaction of $348,330.59. Following the transaction, the chief operating officer now owns 18,672 shares in the company, valued at $825,489.12. The trade was a 29.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,764 shares of company stock worth $4,109,161. 14.36% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Robert W. Baird upped their target price on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. HC Wainwright upped their target price on shares of Mirum Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a report on Friday, February 28th. JMP Securities boosted their price target on shares of Mirum Pharmaceuticals from $74.00 to $76.00 and gave the stock a “market outperform” rating in a research note on Friday, May 9th. Finally, Raymond James reiterated a “strong-buy” rating on shares of Mirum Pharmaceuticals in a research note on Tuesday. Ten analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mirum Pharmaceuticals presently has an average rating of “Buy” and an average price target of $60.64.

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.