Cadian Capital Management LP Purchases 530,000 Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)
Cadian Capital Management LP increased its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM – Free Report) by 72.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,264,922 shares of the company’s stock after purchasing an additional 530,000 shares during the quarter. Mirum Pharmaceuticals makes up 1.5% of Cadian Capital Management LP’s portfolio, making the stock its 19th largest holding. Cadian Capital Management LP owned approximately 3.30% of Mirum Pharmaceuticals worth $32,724,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of MIRM. Raymond James Financial Services Advisors Inc. increased its position in Mirum Pharmaceuticals by 110.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 53,301 shares of the company’s stock worth $1,174,000 after purchasing an additional 27,979 shares during the period. Panagora Asset Management Inc. increased its position in Mirum Pharmaceuticals by 3.6% in the first quarter. Panagora Asset Management Inc. now owns 69,486 shares of the company’s stock worth $1,530,000 after purchasing an additional 2,427 shares during the period. BlackRock Inc. increased its position in Mirum Pharmaceuticals by 1.4% in the first quarter. BlackRock Inc. now owns 782,830 shares of the company’s stock worth $17,238,000 after purchasing an additional 10,732 shares during the period. Federated Hermes Inc. acquired a new stake in Mirum Pharmaceuticals in the first quarter worth about $440,000. Finally, Prudential Financial Inc. increased its position in Mirum Pharmaceuticals by 25.4% in the first quarter. Prudential Financial Inc. now owns 80,300 shares of the company’s stock worth $1,768,000 after purchasing an additional 16,270 shares during the period.
Analyst Ratings Changes
A number of brokerages recently commented on MIRM. JMP Securities reiterated a “market outperform” rating and issued a $70.00 price objective on shares of Mirum Pharmaceuticals in a research report on Wednesday, October 18th. Raymond James reduced their target price on Mirum Pharmaceuticals from $84.00 to $77.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 18th. JPMorgan Chase & Co. restated an “overweight” rating and set a $37.00 target price on shares of Mirum Pharmaceuticals in a report on Monday, November 20th. Robert W. Baird raised their target price on Mirum Pharmaceuticals from $35.00 to $38.00 in a report on Tuesday, October 3rd. Finally, Evercore ISI reiterated an “outperform” rating and set a $62.00 price objective on shares of Mirum Pharmaceuticals in a report on Tuesday, October 17th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $54.78.
View Our Latest Research Report on Mirum Pharmaceuticals
Insider Activity at Mirum Pharmaceuticals
In other news, CFO Eric Bjerkholt bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were acquired at an average price of $29.65 per share, with a total value of $296,500.00. Following the transaction, the chief financial officer now owns 10,000 shares in the company, valued at $296,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Eric Bjerkholt purchased 10,000 shares of the stock in a transaction on Monday, September 11th. The shares were purchased at an average price of $29.65 per share, with a total value of $296,500.00. Following the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $296,500. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Jolanda Howe sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $32.40, for a total value of $81,000.00. The disclosure for this sale can be found here. 24.06% of the stock is owned by insiders.
Mirum Pharmaceuticals Stock Up 1.8 %
Mirum Pharmaceuticals stock traded up $0.58 during midday trading on Friday, reaching $32.86. The stock had a trading volume of 533,822 shares, compared to its average volume of 530,829. The firm’s fifty day simple moving average is $29.93 and its 200-day simple moving average is $28.22. Mirum Pharmaceuticals, Inc. has a 1-year low of $17.49 and a 1-year high of $33.39. The stock has a market capitalization of $1.53 billion, a P/E ratio of -7.64 and a beta of 1.21. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.91 and a current ratio of 5.20.
Mirum Pharmaceuticals (NASDAQ:MIRM – Get Free Report) last announced its earnings results on Thursday, November 2nd. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.07. Mirum Pharmaceuticals had a negative return on equity of 79.52% and a negative net margin of 113.45%. The business had revenue of $47.73 million for the quarter, compared to analyst estimates of $34.31 million. As a group, analysts expect that Mirum Pharmaceuticals, Inc. will post -2.45 EPS for the current fiscal year.
Mirum Pharmaceuticals Company Profile (Free Report)
Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. The company’s lead product candidate is LIVMARLI, an investigational oral drug for the treatment of progressive familial intrahepatic cholestasis disease, as well as for the treatment of Alagille syndrome and biliary atresia disease.
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