Octagon Capital Advisors LP Makes New Investment in Mirum Pharmaceuticals, Inc. $MIRM

Octagon Capital Advisors LP purchased a new stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 338,900 shares of the company’s stock, valued at approximately $31,308,000. Mirum Pharmaceuticals accounts for about 3.5% of Octagon Capital Advisors LP’s portfolio, making the stock its 9th largest position.

Several other institutional investors have also recently added to or reduced their stakes in MIRM. Janus Henderson Group PLC raised its position in Mirum Pharmaceuticals by 21.4% in the fourth quarter. Janus Henderson Group PLC now owns 6,065,308 shares of the company’s stock valued at $479,050,000 after purchasing an additional 1,067,722 shares during the period. State Street Corp boosted its position in shares of Mirum Pharmaceuticals by 59.2% during the fourth quarter. State Street Corp now owns 2,143,992 shares of the company’s stock worth $169,354,000 after buying an additional 797,088 shares during the period. Wellington Management Group LLP boosted its position in shares of Mirum Pharmaceuticals by 566.8% during the third quarter. Wellington Management Group LLP now owns 790,689 shares of the company’s stock worth $57,965,000 after buying an additional 672,118 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Mirum Pharmaceuticals by 709.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 612,318 shares of the company’s stock valued at $44,889,000 after buying an additional 536,674 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its stake in shares of Mirum Pharmaceuticals by 2,116.6% in the third quarter. Voloridge Investment Management LLC now owns 389,574 shares of the company’s stock valued at $28,560,000 after buying an additional 371,999 shares in the last quarter.

Insider Transactions at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $122.25, for a total transaction of $611,250.00. Following the sale, the chief financial officer owned 42,181 shares of the company’s stock, valued at approximately $5,156,627.25. This trade represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $122.27, for a total transaction of $2,445,400.00. Following the sale, the chief executive officer directly owned 194,309 shares in the company, valued at approximately $23,758,161.43. The trade was a 9.33% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 65,315 shares of company stock valued at $6,991,928. Corporate insiders own 8.32% of the company’s stock.

Mirum Pharmaceuticals Price Performance

Shares of Mirum Pharmaceuticals stock opened at $113.03 on Monday. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals, Inc. has a 52-week low of $50.25 and a 52-week high of $130.00. The company has a market capitalization of $6.89 billion, a P/E ratio of -8.30 and a beta of 0.48. The company has a 50 day moving average of $108.77 and a 200 day moving average of $100.52.

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 analysts’ consensus estimates of ($0.75) by ($12.68). The firm 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 for the quarter was up 43.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.30) earnings per share. As a group, research analysts forecast that Mirum Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MIRM shares. CLSA set a $146.00 target price on Mirum Pharmaceuticals in a research note on Monday, June 15th. Citigroup reaffirmed an “outperform” rating on shares of Mirum Pharmaceuticals in a research report on Monday, June 15th. Citizens Jmp boosted their price target on shares of Mirum Pharmaceuticals from $140.00 to $146.00 and gave the stock a “market outperform” rating in a research note on Monday, June 15th. Morgan Stanley increased their price target on shares of Mirum Pharmaceuticals from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Finally, Stifel Nicolaus set a $136.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Mirum Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.40.

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.