Balyasny Asset Management L.P. Acquires New Stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Balyasny Asset Management L.P. bought a new position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,733 shares of the company’s stock, valued at approximately $775,000.

A number of other institutional investors have also recently added to or reduced their stakes in MIRM. Hennion & Walsh Asset Management Inc. lifted its holdings in Mirum Pharmaceuticals by 25.5% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 145,599 shares of the company’s stock valued at $6,021,000 after acquiring an additional 29,545 shares during the last quarter. AlphaQuest LLC grew its stake in shares of Mirum Pharmaceuticals by 969.6% in the 4th quarter. AlphaQuest LLC now owns 1,829 shares of the company’s stock worth $76,000 after purchasing an additional 1,658 shares during the last quarter. Golden State Equity Partners lifted its stake in Mirum Pharmaceuticals by 1,390.8% during the fourth quarter. Golden State Equity Partners now owns 19,380 shares of the company’s stock valued at $801,000 after purchasing an additional 18,080 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Mirum Pharmaceuticals during the fourth quarter valued at approximately $277,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Mirum Pharmaceuticals during the fourth quarter valued at approximately $413,000.

Insider Activity

In related news, CEO Christopher Peetz sold 27,279 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 138,641 shares of the company’s stock, valued at approximately $6,129,318.61. This represents a 16.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Peter Radovich sold 7,879 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $44.21, for a total transaction of $348,330.59. Following the sale, the chief operating officer now directly owns 18,672 shares of the company’s stock, valued at $825,489.12. This represents a 29.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,764 shares of company stock valued at $4,109,161 in the last ninety days. 14.36% of the stock is owned by insiders.

Mirum Pharmaceuticals Stock Performance

Mirum Pharmaceuticals stock opened at $44.39 on Thursday. Mirum Pharmaceuticals, Inc. has a 12-month low of $23.83 and a 12-month high of $54.23. The stock has a 50-day simple moving average of $42.90 and a 200 day simple moving average of $44.35. 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 stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of -21.98 and a beta of 0.95.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $98.47 million. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The business’s quarterly revenue was up 61.2% compared to the same quarter last year. During the same period last year, the company earned ($0.54) EPS. On average, research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MIRM shares. Raymond James reiterated a “strong-buy” rating on shares of Mirum Pharmaceuticals in a research report on Tuesday. Robert W. Baird lifted their target price on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. HC Wainwright upped their target price on Mirum Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, JMP Securities lifted their price target on Mirum Pharmaceuticals from $74.00 to $76.00 and gave the stock a “market outperform” rating in a research note on Friday, May 9th. Ten analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price 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.