Rhumbline Advisers Increases Stake in Mirum Pharmaceuticals, Inc. $MIRM

Rhumbline Advisers lifted its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 16.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,593 shares of the company’s stock after acquiring an additional 9,159 shares during the quarter. Rhumbline Advisers owned 0.13% of Mirum Pharmaceuticals worth $3,287,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Mirum Pharmaceuticals by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 2,540,061 shares of the company’s stock valued at $114,430,000 after purchasing an additional 115,327 shares during the period. Deutsche Bank AG lifted its position in shares of Mirum Pharmaceuticals by 42.2% in the 1st quarter. Deutsche Bank AG now owns 240,744 shares of the company’s stock worth $10,846,000 after purchasing an additional 71,421 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Mirum Pharmaceuticals by 101.3% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,276 shares of the company’s stock valued at $16,050,000 after purchasing an additional 179,316 shares in the last quarter. Invesco Ltd. increased its holdings in Mirum Pharmaceuticals by 4.7% during the first quarter. Invesco Ltd. now owns 313,423 shares of the company’s stock valued at $14,120,000 after buying an additional 14,144 shares during the period. Finally, Aigen Investment Management LP increased its holdings in Mirum Pharmaceuticals by 28.2% during the first quarter. Aigen Investment Management LP now owns 9,929 shares of the company’s stock valued at $447,000 after buying an additional 2,187 shares during the period.

Mirum Pharmaceuticals Trading Down 4.3%

Shares of NASDAQ:MIRM opened at $68.48 on Friday. The business’s 50-day moving average is $71.54 and its 200 day moving average is $62.95. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.31 and a quick ratio of 3.16. Mirum Pharmaceuticals, Inc. has a 1 year low of $36.88 and a 1 year high of $78.54. The firm has a market capitalization of $3.52 billion, a P/E ratio of -79.63 and a beta of 0.42.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.15. The business had revenue of $133.01 million for the quarter, compared to analyst estimates of $130.11 million. Mirum Pharmaceuticals had a negative return on equity of 16.47% and a negative net margin of 8.78%.The company’s revenue was up 47.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. On average, research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MIRM has been the topic of several recent research reports. Stifel Nicolaus set a $89.00 target price on Mirum Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, August 11th. Cowen initiated coverage on Mirum Pharmaceuticals in a research report on Wednesday, September 24th. They set a “buy” rating on the stock. Cantor Fitzgerald lifted their target price on Mirum Pharmaceuticals from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Morgan Stanley increased their price target on shares of Mirum Pharmaceuticals from $75.00 to $81.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Finally, Citizens Jmp raised their price target on shares of Mirum Pharmaceuticals from $81.00 to $95.00 and gave the company a “market outperform” rating in a report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $84.91.

Insider Buying and Selling

In related news, Director Laura Brege sold 17,000 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $74.40, for a total value of $1,264,800.00. Following the transaction, the director directly owned 15,703 shares of the company’s stock, valued at $1,168,303.20. This represents a 51.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Eric Bjerkholt sold 9,578 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $76.01, for a total value of $728,023.78. Following the completion of the transaction, the chief financial officer owned 39,945 shares of the company’s stock, valued at $3,036,219.45. This trade represents a 19.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 14.36% of the company’s stock.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.