Mirum Pharmaceuticals, Inc. $MIRM Stock Holdings Reduced by Boone Capital Management LLC

Boone Capital Management LLC reduced its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 16.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 535,732 shares of the company’s stock after selling 105,716 shares during the period. Mirum Pharmaceuticals comprises about 12.9% of Boone Capital Management LLC’s holdings, making the stock its 2nd largest position. Boone Capital Management LLC owned approximately 1.04% of Mirum Pharmaceuticals worth $39,275,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. MCF Advisors LLC grew its stake in shares of Mirum Pharmaceuticals by 76.4% in the 3rd quarter. MCF Advisors LLC now owns 427 shares of the company’s stock valued at $31,000 after buying an additional 185 shares in the last quarter. Quantbot Technologies LP bought a new position in Mirum Pharmaceuticals during the third quarter valued at approximately $33,000. CWM LLC lifted its stake in Mirum Pharmaceuticals by 30.8% in the third quarter. CWM LLC now owns 683 shares of the company’s stock valued at $50,000 after acquiring an additional 161 shares during the last quarter. Comerica Bank lifted its stake in Mirum Pharmaceuticals by 45.1% in the first quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after acquiring an additional 278 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in Mirum Pharmaceuticals by 34.0% in the third quarter. Jones Financial Companies Lllp now owns 957 shares of the company’s stock worth $70,000 after acquiring an additional 243 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MIRM. Stifel Nicolaus increased their price target on shares of Mirum Pharmaceuticals from $98.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mirum Pharmaceuticals in a report on Thursday, January 22nd. Royal Bank Of Canada cut their target price on Mirum Pharmaceuticals from $130.00 to $128.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Morgan Stanley upped their price target on Mirum Pharmaceuticals from $95.00 to $123.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $110.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $117.00.

Mirum Pharmaceuticals Price Performance

NASDAQ:MIRM opened at $90.66 on Friday. The stock has a market cap of $5.47 billion, a P/E ratio of -188.87 and a beta of 0.52. Mirum Pharmaceuticals, Inc. has a one year low of $36.88 and a one year high of $109.28. The company has a fifty day moving average price of $95.39 and a 200 day moving average price of $80.68. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.67 and a quick ratio of 2.55.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.13). Mirum Pharmaceuticals had a negative return on equity of 8.53% and a negative net margin of 4.48%.The company had revenue of $148.93 million during the quarter, compared to analyst estimates of $141.78 million. During the same quarter in the prior year, the business earned $1.00 earnings per share. The business’s revenue for the quarter was up 49.8% on a year-over-year basis. Analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Eric Bjerkholt sold 1,053 shares of the stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $96.19, for a total value of $101,288.07. Following the completion of the sale, the chief financial officer owned 43,741 shares in the company, valued at approximately $4,207,446.79. This trade represents a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patrick J. Heron bought 131,425 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The shares were purchased at an average cost of $68.48 per share, for a total transaction of $8,999,984.00. Following the completion of the transaction, the director owned 459,010 shares of the company’s stock, valued at $31,433,004.80. This represents a 40.12% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 45,136 shares of company stock valued at $4,352,029 in the last quarter. 14.36% of the stock is currently owned by insiders.

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.