AlphaCentric Advisors LLC Reduces Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

AlphaCentric Advisors LLC decreased its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 31.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 64,000 shares of the company’s stock after selling 30,000 shares during the quarter. Mirum Pharmaceuticals comprises approximately 1.6% of AlphaCentric Advisors LLC’s portfolio, making the stock its 12th biggest holding. AlphaCentric Advisors LLC’s holdings in Mirum Pharmaceuticals were worth $2,188,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MIRM. AJOVista LLC acquired a new position in shares of Mirum Pharmaceuticals during the 4th quarter valued at about $40,000. Wetzel Investment Advisors Inc. boosted its position in shares of Mirum Pharmaceuticals by 71.4% during the 1st quarter. Wetzel Investment Advisors Inc. now owns 2,400 shares of the company’s stock valued at $57,000 after acquiring an additional 1,000 shares during the last quarter. StepStone Group LP acquired a new position in shares of Mirum Pharmaceuticals during the 4th quarter valued at about $135,000. Quest Partners LLC acquired a new position in shares of Mirum Pharmaceuticals during the 4th quarter valued at about $194,000. Finally, NEOS Investment Management LLC acquired a new position in shares of Mirum Pharmaceuticals during the 4th quarter valued at about $220,000.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Cantor Fitzgerald upped their target price 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. JPMorgan Chase & Co. upped their target price on shares of Mirum Pharmaceuticals from $31.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. Morgan Stanley upped their target price on shares of Mirum Pharmaceuticals from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $48.00 target price on shares of Mirum Pharmaceuticals in a research report on Monday, June 17th. Finally, Citigroup upped their target price on shares of Mirum Pharmaceuticals from $38.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Ten 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, Mirum Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $56.27.

Insider Buying and Selling

In related news, insider Pamela Vig sold 30,559 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $34.00, for a total transaction of $1,039,006.00. Following the sale, the insider now directly owns 27,406 shares in the company, valued at $931,804. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Mirum Pharmaceuticals news, Director Saira Ramasastry sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $25.68, for a total value of $128,400.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Pamela Vig sold 30,559 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $34.00, for a total transaction of $1,039,006.00. Following the completion of the transaction, the insider now owns 27,406 shares in the company, valued at $931,804. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,934 shares of company stock worth $1,180,156. Company insiders own 22.87% of the company’s stock.

Mirum Pharmaceuticals Trading Up 4.8 %

NASDAQ:MIRM traded up $1.96 on Monday, reaching $43.08. 309,820 shares of the company’s stock were exchanged, compared to its average volume of 623,963. The company has a quick ratio of 3.47, a current ratio of 3.68 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of -11.68 and a beta of 1.15. The business has a fifty day moving average of $37.80 and a 200-day moving average of $30.27. Mirum Pharmaceuticals, Inc. has a 52-week low of $23.14 and a 52-week high of $44.94.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Wednesday, August 7th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.05). Mirum Pharmaceuticals had a negative return on equity of 56.46% and a negative net margin of 69.67%. The firm had revenue of $77.90 million for the quarter, compared to analysts’ expectations of $75.03 million. During the same quarter in the previous year, the company posted ($0.92) earnings per share. The firm’s quarterly revenue was up 107.7% on a year-over-year basis. As a group, analysts expect that Mirum Pharmaceuticals, Inc. will post -1.66 earnings per share for the current year.

About Mirum Pharmaceuticals

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.