JPMorgan Chase & Co. Sells 380,067 Shares of Mirum Pharmaceuticals, Inc. $MIRM

JPMorgan Chase & Co. lowered its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 79.1% during the 3rd quarter, Holdings Channel reports. The fund owned 100,209 shares of the company’s stock after selling 380,067 shares during the period. JPMorgan Chase & Co.’s holdings in Mirum Pharmaceuticals were worth $7,346,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MIRM. MCF Advisors LLC increased its holdings in shares of Mirum Pharmaceuticals by 76.4% during the third quarter. MCF Advisors LLC now owns 427 shares of the company’s stock valued at $31,000 after acquiring an additional 185 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Mirum Pharmaceuticals during the third quarter worth approximately $33,000. Comerica Bank lifted its holdings in shares of Mirum Pharmaceuticals by 45.1% in the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after purchasing an additional 278 shares in the last quarter. Quarry LP acquired a new stake in Mirum Pharmaceuticals in the 3rd quarter valued at $41,000. Finally, CWM LLC grew its position in Mirum Pharmaceuticals by 30.8% in the 3rd quarter. CWM LLC now owns 683 shares of the company’s stock valued at $50,000 after purchasing an additional 161 shares during the period.

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 40,985 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $91.98, for a total value of $3,769,800.30. Following the sale, the chief executive officer owned 194,309 shares in the company, valued at approximately $17,872,541.82. This represents a 17.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Eric Bjerkholt sold 7,287 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $91.98, for a total transaction of $670,258.26. Following the transaction, the chief financial officer directly owned 49,788 shares of the company’s stock, valued at $4,579,500.24. This represents a 12.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 121,942 shares of company stock valued at $11,416,645 over the last three months. 22.87% of the stock is currently owned by corporate insiders.

Mirum Pharmaceuticals Stock Down 0.6%

MIRM stock opened at $87.90 on Tuesday. The stock has a fifty day moving average of $96.30 and a 200-day moving average of $81.88. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $36.88 and a fifty-two week high of $109.28. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of -183.12 and a beta of 0.52. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.55 and a current ratio of 2.67.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.13). The business had revenue of $148.93 million for the quarter, compared to analysts’ expectations of $141.78 million. Mirum Pharmaceuticals had a negative net margin of 4.48% and a negative return on equity of 8.53%. Mirum Pharmaceuticals’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period last year, the company earned $1.00 earnings per share. As a group, equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

Wall Street Analyst Weigh In

MIRM has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Mirum Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 28th. Robert W. Baird lifted their price objective on shares of Mirum Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Monday, December 8th. Stifel Nicolaus boosted their target price on shares of Mirum Pharmaceuticals from $98.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Citizens Jmp lowered their target price on shares of Mirum Pharmaceuticals from $140.00 to $132.00 and set a “market outperform” rating on the stock in a report on Thursday, February 26th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Mirum Pharmaceuticals in a research report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Mirum Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $117.67.

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.