Bank of New York Mellon Corp Buys 18,944 Shares of Mirum Pharmaceuticals, Inc. $MIRM

Bank of New York Mellon Corp increased its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 3.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 584,523 shares of the company’s stock after acquiring an additional 18,944 shares during the quarter. Bank of New York Mellon Corp owned about 0.96% of Mirum Pharmaceuticals worth $53,998,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MIRM. Hillsdale Investment Management Inc. increased its position in shares of Mirum Pharmaceuticals by 25.4% during the first quarter. Hillsdale Investment Management Inc. now owns 59,730 shares of the company’s stock worth $5,518,000 after acquiring an additional 12,100 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Mirum Pharmaceuticals by 3.3% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 250,399 shares of the company’s stock worth $23,132,000 after buying an additional 8,079 shares during the period. Emerald Advisers LLC grew its stake in Mirum Pharmaceuticals by 8.2% in the 1st quarter. Emerald Advisers LLC now owns 397,263 shares of the company’s stock valued at $36,699,000 after buying an additional 30,129 shares during the last quarter. Principal Financial Group Inc. grew its stake in Mirum Pharmaceuticals by 81.2% in the 1st quarter. Principal Financial Group Inc. now owns 57,369 shares of the company’s stock valued at $5,300,000 after buying an additional 25,710 shares during the last quarter. Finally, Fifth Third Bancorp bought a new position in Mirum Pharmaceuticals in the 1st quarter valued at about $56,000.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 2,721 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $120.00, for a total transaction of $326,520.00. Following the sale, the senior vice president directly owned 3,114 shares in the company, valued at $373,680. This represents a 46.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $95.84, for a total transaction of $2,875,200.00. Following the sale, the chief executive officer owned 194,309 shares in the company, valued at $18,622,574.56. The trade was a 13.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 65,315 shares of company stock valued at $6,991,928 over the last quarter. 8.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MIRM has been the subject of a number of research analyst reports. Citizens Jmp boosted their price objective on Mirum Pharmaceuticals from $140.00 to $146.00 and gave the stock a “market outperform” rating in a report on Monday, June 15th. Wall Street Zen downgraded Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. TD Cowen upped their price objective on Mirum Pharmaceuticals from $125.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Raymond James Financial reissued a “strong-buy” rating and set a $165.00 target price on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. Finally, Wolfe Research began coverage on shares of Mirum Pharmaceuticals in a research report on Tuesday, May 19th. They issued an “outperform” rating and a $145.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.40.

Mirum Pharmaceuticals Price Performance

Mirum Pharmaceuticals stock opened at $114.36 on Friday. The stock’s fifty day moving average price is $108.55 and its two-hundred day moving average price is $100.26. Mirum Pharmaceuticals, Inc. has a one year low of $50.25 and a one year high of $130.00. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.09 and a quick ratio of 1.99. The firm has a market cap of $6.97 billion, a PE ratio of -8.40 and a beta of 0.48.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($13.43) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($12.68). The company had revenue of $159.88 million during the quarter, compared to analyst estimates of $148.21 million. Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. Mirum Pharmaceuticals’s revenue was up 43.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.30) earnings per share. As a group, research analysts expect that Mirum Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year.

Mirum Pharmaceuticals Profile

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company’s primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum’s lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.