Mirum Pharmaceuticals, Inc. $MIRM Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 4.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,434 shares of the company’s stock after buying an additional 2,321 shares during the period. Rhumbline Advisers owned 0.11% of Mirum Pharmaceuticals worth $2,497,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of MIRM. Strs Ohio purchased a new stake in shares of Mirum Pharmaceuticals in the first quarter valued at about $550,000. Intech Investment Management LLC boosted its stake in Mirum Pharmaceuticals by 19.0% during the first quarter. Intech Investment Management LLC now owns 27,548 shares of the company’s stock worth $1,241,000 after buying an additional 4,398 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Mirum Pharmaceuticals by 102.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 149,518 shares of the company’s stock worth $6,736,000 after buying an additional 75,630 shares during the period. Woodline Partners LP boosted its stake in Mirum Pharmaceuticals by 40.0% during the first quarter. Woodline Partners LP now owns 566,271 shares of the company’s stock worth $25,511,000 after buying an additional 161,867 shares during the period. Finally, Empowered Funds LLC boosted its stake in Mirum Pharmaceuticals by 15.4% during the first quarter. Empowered Funds LLC now owns 38,386 shares of the company’s stock worth $1,729,000 after buying an additional 5,120 shares during the period.

Analysts Set New Price Targets

Several brokerages have weighed in on MIRM. JMP Securities set a $81.00 target price on shares of Mirum Pharmaceuticals and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. Raymond James Financial reissued a “strong-buy” rating on shares of Mirum Pharmaceuticals in a research note on Thursday, August 7th. Stifel Nicolaus set a $89.00 price objective on shares of Mirum Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, August 11th. HC Wainwright raised their price objective on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Finally, Wall Street Zen lowered shares of Mirum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $74.44.

Insider Activity

In related news, SVP Jolanda Howe sold 10,000 shares of Mirum Pharmaceuticals stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $58.00, for a total value of $580,000.00. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher Peetz sold 40,000 shares of Mirum Pharmaceuticals stock in a transaction on Monday, August 11th. The shares were sold at an average price of $62.00, for a total transaction of $2,480,000.00. Following the completion of the transaction, the chief executive officer owned 138,641 shares in the company, valued at approximately $8,595,742. This trade represents a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,619 shares of company stock valued at $7,313,448. Corporate insiders own 22.87% of the company’s stock.

Mirum Pharmaceuticals Stock Performance

NASDAQ:MIRM opened at $73.79 on Wednesday. The firm’s fifty day moving average price is $63.14 and its 200 day moving average price is $51.27. Mirum Pharmaceuticals, Inc. has a 1-year low of $36.86 and a 1-year high of $78.10. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.13 and a quick ratio of 2.97. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of -60.98 and a beta of 0.92.

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