Pathway Capital Management LP Buys Shares of 190,286 Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Pathway Capital Management LP purchased a new stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 190,286 shares of the company’s stock, valued at approximately $5,617,000. Mirum Pharmaceuticals accounts for 6.3% of Pathway Capital Management LP’s investment portfolio, making the stock its 6th biggest holding. Pathway Capital Management LP owned about 0.41% of Mirum Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Avidity Partners Management LP bought a new position in Mirum Pharmaceuticals in the 3rd quarter valued at about $36,114,000. First Turn Management LLC acquired a new position in shares of Mirum Pharmaceuticals during the fourth quarter valued at approximately $24,688,000. Adage Capital Partners GP L.L.C. bought a new stake in Mirum Pharmaceuticals during the third quarter worth approximately $21,014,000. Eventide Asset Management LLC lifted its position in Mirum Pharmaceuticals by 14.4% in the third quarter. Eventide Asset Management LLC now owns 3,958,579 shares of the company’s stock worth $125,091,000 after purchasing an additional 499,378 shares during the period. Finally, Boone Capital Management LLC bought a new position in Mirum Pharmaceuticals during the 3rd quarter valued at $12,317,000.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. JMP Securities cut their price objective on Mirum Pharmaceuticals from $72.00 to $66.00 and set a “market outperform” rating for the company in a report on Thursday, May 9th. SVB Leerink cut their price target on shares of Mirum Pharmaceuticals from $44.00 to $43.00 and set an “outperform” rating for the company in a report on Monday, March 18th. HC Wainwright reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday, May 9th. Citigroup increased their target price on shares of Mirum Pharmaceuticals from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, Morgan Stanley decreased their price target on shares of Mirum Pharmaceuticals from $57.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $49.73.

Mirum Pharmaceuticals Stock Down 2.7 %

NASDAQ:MIRM traded down $0.68 during trading hours on Friday, reaching $24.07. The company’s stock had a trading volume of 308,777 shares, compared to its average volume of 407,691. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.68 and a quick ratio of 3.47. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -6.49 and a beta of 1.13. Mirum Pharmaceuticals, Inc. has a one year low of $23.14 and a one year high of $35.56. The business’s 50-day moving average is $25.40 and its 200-day moving average is $27.98.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.32). Mirum Pharmaceuticals had a negative return on equity of 56.46% and a negative net margin of 69.67%. The firm had revenue of $69.55 million for the quarter, compared to the consensus estimate of $66.73 million. Equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.39 EPS for the current year.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, COO Peter Radovich sold 4,303 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $25.80, for a total value of $111,017.40. Following the completion of the sale, the chief operating officer now directly owns 29,013 shares of the company’s stock, valued at approximately $748,535.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were purchased at an average price of $24.80 per share, for a total transaction of $49,600.00. Following the completion of the purchase, the chief financial officer now directly owns 14,000 shares of the company’s stock, valued at $347,200. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Peter Radovich sold 4,303 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $25.80, for a total transaction of $111,017.40. Following the transaction, the chief operating officer now directly owns 29,013 shares of the company’s stock, valued at $748,535.40. The disclosure for this sale can be found here. 22.87% of the stock is owned by insiders.

Mirum Pharmaceuticals Company 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.