Mirum Pharmaceuticals, Inc. $MIRM is First Turn Management LLC’s 5th Largest Position

First Turn Management LLC lessened its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 15.6% in the fourth quarter, Holdings Channel reports. The fund owned 481,564 shares of the company’s stock after selling 89,005 shares during the quarter. Mirum Pharmaceuticals makes up about 4.3% of First Turn Management LLC’s holdings, making the stock its 5th biggest holding. First Turn Management LLC’s holdings in Mirum Pharmaceuticals were worth $38,039,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Mirum Pharmaceuticals by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 2,596,089 shares of the company’s stock worth $205,065,000 after acquiring an additional 50,720 shares during the period. State Street Corp boosted its holdings in Mirum Pharmaceuticals by 59.2% in the 4th quarter. State Street Corp now owns 2,143,992 shares of the company’s stock worth $169,354,000 after acquiring an additional 797,088 shares during the period. Geode Capital Management LLC boosted its holdings in Mirum Pharmaceuticals by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 1,062,926 shares of the company’s stock worth $83,975,000 after acquiring an additional 52,904 shares during the period. Wellington Management Group LLP boosted its holdings in Mirum Pharmaceuticals by 566.8% in the 3rd quarter. Wellington Management Group LLP now owns 790,689 shares of the company’s stock worth $57,965,000 after acquiring an additional 672,118 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Mirum Pharmaceuticals by 60.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 724,317 shares of the company’s stock worth $57,214,000 after acquiring an additional 273,479 shares during the period.

Insider Activity

In related news, SVP Jolanda Howe sold 4,732 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $91.98, for a total transaction of $435,249.36. Following the transaction, the senior vice president directly owned 8,429 shares in the company, valued at $775,299.42. This trade represents a 35.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joanne Quan sold 7,287 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $670,258.26. Following the transaction, the insider owned 18,864 shares in the company, valued at $1,735,110.72. This trade represents a 27.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 111,806 shares of company stock valued at $10,408,916 over the last three months. 8.32% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MIRM has been the subject of a number of analyst reports. Weiss Ratings upgraded Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, June 8th. Leerink Partners reduced their target price on Mirum Pharmaceuticals from $120.00 to $118.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th. HC Wainwright set a $185.00 target price on Mirum Pharmaceuticals in a research note on Thursday, May 7th. Royal Bank Of Canada increased their target price on Mirum Pharmaceuticals from $128.00 to $142.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $132.00 target price on shares of Mirum Pharmaceuticals in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Mirum Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $138.36.

Mirum Pharmaceuticals Stock Performance

Mirum Pharmaceuticals stock opened at $99.35 on Friday. The stock has a market cap of $6.06 billion, a P/E ratio of -7.30 and a beta of 0.50. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 1.28. The stock has a 50 day moving average of $97.89 and a 200-day moving average of $91.13. Mirum Pharmaceuticals, Inc. has a 52 week low of $47.89 and a 52 week high of $114.99.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Wednesday, May 6th. The company reported ($13.43) EPS for the quarter, missing the consensus estimate of ($0.75) by ($12.68). The business had revenue of $159.88 million for the quarter, compared to analysts’ expectations of $148.21 million. Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. The business’s quarterly revenue was up 43.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.30) earnings per share. On average, analysts expect that Mirum Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company’s primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum’s lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.