Hsbc Holdings PLC Cuts Holdings in Mirum Pharmaceuticals, Inc. $MIRM

Hsbc Holdings PLC decreased its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 12.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,693 shares of the company’s stock after selling 811 shares during the quarter. Hsbc Holdings PLC’s holdings in Mirum Pharmaceuticals were worth $257,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Northern Trust Corp boosted its position in shares of Mirum Pharmaceuticals by 8.7% during the 4th 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. Schonfeld Strategic Advisors LLC boosted its position in shares of Mirum Pharmaceuticals by 2.9% during the 4th 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. Algert Global LLC acquired a new position in shares of Mirum Pharmaceuticals during the 4th quarter worth about $2,824,000. Balyasny Asset Management L.P. acquired a new position in shares of Mirum Pharmaceuticals during the 4th quarter worth about $775,000. Finally, Deutsche Bank AG boosted its position in shares of Mirum Pharmaceuticals by 7.7% during the 4th quarter. Deutsche Bank AG now owns 169,323 shares of the company’s stock worth $7,002,000 after acquiring an additional 12,060 shares in the last quarter.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM stock opened at $74.18 on Friday. The company has a market cap of $3.73 billion, a price-to-earnings ratio of -61.31 and a beta of 0.92. The stock has a 50 day simple moving average of $59.05 and a 200-day simple moving average of $49.89. Mirum Pharmaceuticals, Inc. has a 12-month low of $36.86 and a 12-month high of $76.02. The company has a current ratio of 3.13, a quick ratio of 2.97 and a debt-to-equity ratio of 1.21.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.19. Mirum Pharmaceuticals had a negative return on equity of 24.76% and a negative net margin of 13.65%.The firm had revenue of $127.79 million during the quarter, compared to the consensus estimate of $107.91 million. During the same period last year, the business posted ($0.52) EPS. Mirum Pharmaceuticals’s quarterly revenue was up 64.1% on a year-over-year basis. On average, equities analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, CEO Christopher Peetz sold 40,000 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $62.00, for a total transaction of $2,480,000.00. Following the sale, the chief executive officer owned 138,641 shares in the company, valued at $8,595,742. This trade represents a 22.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jolanda Howe sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $58.00, for a total value of $580,000.00. Following the completion of the transaction, the senior vice president directly owned 2,426 shares in the company, valued at $140,708. This trade represents a 80.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,041 shares of company stock worth $5,320,624 in the last 90 days. Insiders own 14.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MIRM shares. Wall Street Zen cut Mirum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 25th. Evercore ISI upped their price objective on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Stifel Nicolaus set a $89.00 price objective on Mirum Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, August 11th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 7th. Finally, HC Wainwright upped their target price on Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $74.13.

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.