Comerica Bank Reduces Stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Comerica Bank lowered its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 76.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 617 shares of the company’s stock after selling 1,971 shares during the period. Comerica Bank’s holdings in Mirum Pharmaceuticals were worth $26,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Schonfeld Strategic Advisors LLC grew its position in Mirum Pharmaceuticals by 2.9% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 17,200 shares of the company’s stock worth $711,000 after acquiring an additional 487 shares in the last quarter. Northern Trust Corp grew its position in Mirum Pharmaceuticals by 8.7% in the fourth quarter. Northern Trust Corp now owns 399,544 shares of the company’s stock worth $16,521,000 after acquiring an additional 32,059 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in Mirum Pharmaceuticals in the fourth quarter worth about $991,000. Aquatic Capital Management LLC grew its position in Mirum Pharmaceuticals by 28.3% in the fourth quarter. Aquatic Capital Management LLC now owns 22,589 shares of the company’s stock worth $934,000 after acquiring an additional 4,989 shares in the last quarter. Finally, Oxford Asset Management LLP purchased a new position in shares of Mirum Pharmaceuticals during the fourth quarter valued at approximately $272,000.

Mirum Pharmaceuticals Stock Down 0.3%

Shares of NASDAQ MIRM opened at $44.89 on Tuesday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of -22.22 and a beta of 0.95. The stock has a 50 day moving average price of $42.96 and a 200 day moving average price of $44.54. Mirum Pharmaceuticals, Inc. has a 52-week low of $23.83 and a 52-week high of $54.23.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. The firm had revenue of $111.59 million during the quarter, compared to analyst estimates of $98.47 million. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. Mirum Pharmaceuticals’s quarterly revenue was up 61.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.54) earnings per share. Sell-side analysts expect that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Robert W. Baird upped their target price on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and set a $73.00 target price on shares of Mirum Pharmaceuticals in a research note on Monday. Raymond James reaffirmed a “strong-buy” rating on shares of Mirum Pharmaceuticals in a research note on Tuesday, May 13th. Finally, JMP Securities upped their target price on Mirum Pharmaceuticals from $74.00 to $76.00 and gave the company a “market outperform” rating in a research note on Friday, May 9th. Ten research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $60.73.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, COO Peter Radovich sold 7,879 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $44.21, for a total transaction of $348,330.59. Following the completion of the sale, the chief operating officer now owns 18,672 shares in the company, valued at $825,489.12. This represents a 29.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher Peetz sold 27,279 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $44.21, for a total value of $1,206,004.59. Following the sale, the chief executive officer now owns 138,641 shares of the company’s stock, valued at approximately $6,129,318.61. This represents a 16.44% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,764 shares of company stock worth $4,109,161. Company insiders own 14.36% of the company’s stock.

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.