Rock Springs Capital Management LP Sells 108,924 Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Rock Springs Capital Management LP cut its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,471,564 shares of the company’s stock after selling 108,924 shares during the quarter. Mirum Pharmaceuticals makes up approximately 2.3% of Rock Springs Capital Management LP’s investment portfolio, making the stock its 11th largest holding. Rock Springs Capital Management LP owned about 3.07% of Mirum Pharmaceuticals worth $60,849,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp grew its position in shares of Mirum Pharmaceuticals by 100.0% in the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the company’s stock worth $30,000 after buying an additional 357 shares during the last quarter. R Squared Ltd purchased a new position in Mirum Pharmaceuticals in the fourth quarter worth $69,000. AlphaQuest LLC increased its position 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 purchasing an additional 1,658 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Mirum Pharmaceuticals by 8.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,155 shares of the company’s stock valued at $172,000 after purchasing an additional 312 shares during the last quarter. Finally, Avanza Fonder AB purchased a new stake in shares of Mirum Pharmaceuticals during the 4th quarter valued at $189,000.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MIRM. HC Wainwright upped their target price on Mirum Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Robert W. Baird upped their price objective 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. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $58.20.

Insider Buying and Selling at Mirum Pharmaceuticals

In related news, SVP Jolanda Howe sold 902 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $47.92, for a total transaction of $43,223.84. Following the completion of the transaction, the senior vice president now directly owns 3,524 shares in the company, valued at approximately $168,870.08. This trade represents a 20.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher Peetz sold 27,279 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $44.21, for a total value of $1,206,004.59. Following the completion of the sale, the chief executive officer now owns 138,641 shares in the company, valued at approximately $6,129,318.61. This represents a 16.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 116,473 shares of company stock worth $5,249,134. Insiders own 22.87% of the company’s stock.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ:MIRM opened at $39.10 on Monday. Mirum Pharmaceuticals, Inc. has a twelve month low of $23.14 and a twelve month high of $54.23. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.33. The company has a market cap of $1.93 billion, a PE ratio of -19.36 and a beta of 1.00. The company’s 50 day moving average is $45.23 and its 200 day moving average is $44.01.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.22). The business had revenue of $99.41 million during the quarter, compared to analyst estimates of $96.64 million. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. On average, sell-side analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current year.

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.