Mirum Pharmaceuticals, Inc. $MIRM Position Cut by Boone Capital Management LLC

Boone Capital Management LLC cut its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 21.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 421,236 shares of the company’s stock after selling 114,496 shares during the period. Mirum Pharmaceuticals accounts for about 11.2% of Boone Capital Management LLC’s portfolio, making the stock its 2nd biggest position. Boone Capital Management LLC’s holdings in Mirum Pharmaceuticals were worth $33,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MIRM. Cullen Frost Bankers Inc. purchased a new stake in Mirum Pharmaceuticals during the fourth quarter valued at approximately $30,000. Eurizon Capital SGR S.p.A. purchased a new stake in Mirum Pharmaceuticals during the fourth quarter valued at approximately $32,000. CIBC Private Wealth Group LLC purchased a new stake in Mirum Pharmaceuticals during the fourth quarter valued at approximately $32,000. Quantbot Technologies LP purchased a new stake in Mirum Pharmaceuticals during the third quarter valued at approximately $33,000. Finally, Comerica Bank raised its position in Mirum Pharmaceuticals by 45.1% during the first quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after purchasing an additional 278 shares during the period.

Insider Activity at Mirum Pharmaceuticals

In related news, CEO Christopher Peetz sold 30,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $95.84, for a total value of $2,875,200.00. Following the transaction, the chief executive officer owned 194,309 shares of the company’s stock, valued at $18,622,574.56. This represents a 13.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 5,000 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $93.82, for a total value of $469,100.00. Following the completion of the transaction, the chief financial officer directly owned 44,788 shares in the company, valued at approximately $4,202,010.16. This trade represents a 10.04% 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. 8.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MIRM shares. TD Cowen upped their price objective on Mirum Pharmaceuticals from $125.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. HC Wainwright restated a “buy” rating on shares of Mirum Pharmaceuticals in a research report on Monday. Weiss Ratings upgraded Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, June 8th. Robert W. Baird raised their price target on Mirum Pharmaceuticals from $112.00 to $129.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Finally, Citizens Jmp boosted their price objective on Mirum Pharmaceuticals from $140.00 to $146.00 and gave the company a “market outperform” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.80.

Mirum Pharmaceuticals Stock Performance

Shares of Mirum Pharmaceuticals stock opened at $102.04 on Thursday. The stock’s fifty day moving average is $98.29 and its two-hundred day moving average is $91.88. The company has a market capitalization of $6.22 billion, a PE ratio of -7.50 and a beta of 0.50. 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 $47.89 and a 52 week high of $114.99.

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