Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 67.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 101,248 shares of the company’s stock after purchasing an additional 40,800 shares during the period. Renaissance Technologies LLC’s holdings in Mirum Pharmaceuticals were worth $4,187,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its holdings in Mirum Pharmaceuticals by 3.5% in the fourth quarter. Legal & General Group Plc now owns 40,820 shares of the company’s stock valued at $1,688,000 after purchasing an additional 1,389 shares during the period. Invesco Ltd. increased its holdings in shares of Mirum Pharmaceuticals by 5.2% in the 4th quarter. Invesco Ltd. now owns 299,279 shares of the company’s stock valued at $12,375,000 after acquiring an additional 14,747 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Mirum Pharmaceuticals by 8.1% during the fourth quarter. Russell Investments Group Ltd. now owns 25,960 shares of the company’s stock worth $1,073,000 after purchasing an additional 1,945 shares during the last quarter. ExodusPoint Capital Management LP purchased a new position in Mirum Pharmaceuticals in the fourth quarter valued at approximately $916,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Mirum Pharmaceuticals by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 943,344 shares of the company’s stock valued at $39,016,000 after buying an additional 7,147 shares in the last quarter.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ:MIRM opened at $38.39 on Tuesday. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -19.00 and a beta of 1.00. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. The business’s 50 day simple moving average is $44.98 and its 200-day simple moving average is $44.01. Mirum Pharmaceuticals, Inc. has a 12 month low of $23.14 and a 12 month high of $54.23.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.22). Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The company had revenue of $99.41 million for the quarter, compared to analyst estimates of $96.64 million. As a group, equities analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 27,279 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $44.21, for a total transaction of $1,206,004.59. Following the transaction, the chief executive officer now owns 138,641 shares of the company’s stock, valued at $6,129,318.61. This trade represents a 16.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Peter Radovich sold 7,879 shares of Mirum Pharmaceuticals stock in a transaction on Monday, March 17th. The shares were sold at an average price of $44.21, for a total transaction of $348,330.59. Following the completion of the transaction, the chief operating officer now owns 18,672 shares in the company, valued at approximately $825,489.12. This trade represents a 29.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 116,473 shares of company stock valued at $5,249,134. Company insiders own 22.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. HC Wainwright lifted their target price on Mirum Pharmaceuticals from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Robert W. Baird boosted their price objective on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Ten 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 MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $58.20.

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.