Phocas Financial Corp. Cuts Holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Phocas Financial Corp. decreased its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 37.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,889 shares of the company's stock after selling 22,510 shares during the quarter. Phocas Financial Corp. owned approximately 0.08% of Mirum Pharmaceuticals worth $1,478,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in Mirum Pharmaceuticals by 37.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company's stock valued at $40,131,000 after purchasing an additional 432,824 shares in the last quarter. Silvercrest Asset Management Group LLC raised its position in Mirum Pharmaceuticals by 64.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 162,817 shares of the company's stock valued at $4,090,000 after purchasing an additional 63,871 shares during the period. Rice Hall James & Associates LLC boosted its stake in Mirum Pharmaceuticals by 6.9% during the second quarter. Rice Hall James & Associates LLC now owns 229,730 shares of the company's stock worth $7,854,000 after buying an additional 14,843 shares during the period. Candriam S.C.A. purchased a new stake in Mirum Pharmaceuticals in the 2nd quarter worth about $17,384,000. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of Mirum Pharmaceuticals by 64.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 104,770 shares of the company's stock worth $3,582,000 after acquiring an additional 41,236 shares during the last quarter.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ:MIRM traded up $1.60 during trading on Wednesday, reaching $43.69. The stock had a trading volume of 450,893 shares, compared to its average volume of 558,714. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34. Mirum Pharmaceuticals, Inc. has a 1-year low of $23.14 and a 1-year high of $48.89. The stock has a market cap of $2.10 billion, a PE ratio of -21.63 and a beta of 1.16. The business has a fifty day moving average price of $40.17 and a 200-day moving average price of $36.42.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The firm had revenue of $90.38 million for the quarter, compared to analysts' expectations of $81.99 million. During the same quarter in the previous year, the company posted ($0.57) EPS. The company's revenue was up 89.4% compared to the same quarter last year. On average, equities analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Jolanda Howe sold 2,500 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $47.10, for a total value of $117,750.00. Following the completion of the transaction, the senior vice president now owns 2,426 shares in the company, valued at $114,264.60. The trade was a 50.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.87% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MIRM has been the topic of several recent analyst reports. Citigroup raised their price target on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Cantor Fitzgerald boosted their target price on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, August 8th. Robert W. Baird raised their price objective on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Evercore ISI raised their price target on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an "outperform" rating in a research report on Thursday, August 8th. Finally, Leerink Partners upped their price objective on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Ten investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price 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.