Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Position Decreased by First Turn Management LLC

First Turn Management LLC decreased its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 7.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 647,611 shares of the company's stock after selling 55,787 shares during the quarter. Mirum Pharmaceuticals makes up 4.0% of First Turn Management LLC's holdings, making the stock its 4th largest holding. First Turn Management LLC owned about 1.36% of Mirum Pharmaceuticals worth $25,257,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Mirum Pharmaceuticals by 22.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company's stock worth $67,000 after acquiring an additional 318 shares in the last quarter. Amalgamated Bank lifted its position in Mirum Pharmaceuticals by 60.8% during the 2nd quarter. Amalgamated Bank now owns 1,357 shares of the company's stock worth $46,000 after acquiring an additional 513 shares during the period. Arizona State Retirement System grew its stake in Mirum Pharmaceuticals by 10.6% during the 2nd quarter. Arizona State Retirement System now owns 9,210 shares of the company's stock valued at $315,000 after purchasing an additional 883 shares during the last quarter. Quest Partners LLC increased its holdings in Mirum Pharmaceuticals by 7,513.3% in the 2nd quarter. Quest Partners LLC now owns 1,142 shares of the company's stock worth $39,000 after buying an additional 1,127 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Mirum Pharmaceuticals by 11.7% during the 1st quarter. Russell Investments Group Ltd. now owns 17,481 shares of the company's stock worth $439,000 after purchasing an additional 1,825 shares during the period.

Insider Activity at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 2,500 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $47.10, for a total transaction of $117,750.00. Following the completion of the sale, the senior vice president now owns 2,426 shares in the company, valued at approximately $114,264.60. This represents a 50.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 22.87% of the company's stock.

Mirum Pharmaceuticals Stock Up 1.6 %

NASDAQ:MIRM traded up $0.67 during mid-day trading on Tuesday, hitting $42.09. The stock had a trading volume of 389,598 shares, compared to its average volume of 559,196. The company has a market capitalization of $2.02 billion, a PE ratio of -20.84 and a beta of 1.16. The stock has a 50-day simple moving average of $40.13 and a two-hundred day simple moving average of $36.26. Mirum Pharmaceuticals, Inc. has a twelve month low of $23.14 and a twelve month high of $48.89. 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 (NASDAQ:MIRM - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.15. The firm had revenue of $90.38 million during the quarter, compared to analysts' expectations of $81.99 million. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The firm's revenue was up 89.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.57) earnings per share. On average, equities research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.51 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MIRM shares. Evercore ISI upped their price target on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an "outperform" rating in a report on Thursday, August 8th. Cantor Fitzgerald boosted their price target on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, August 8th. HC Wainwright reissued a "buy" rating and set a $66.00 target price on shares of Mirum Pharmaceuticals in a research note on Wednesday, November 13th. Robert W. Baird boosted their price target on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Finally, Citigroup increased their price objective on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Ten equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $57.73.

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.