Trails Edge Capital Partners LP Buys Shares of 223,312 Mirum Pharmaceuticals, Inc. $MIRM

Trails Edge Capital Partners LP bought a new position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 223,312 shares of the company’s stock, valued at approximately $26,143,136,000. Mirum Pharmaceuticals makes up about 4.2% of Trails Edge Capital Partners LP’s investment portfolio, making the stock its 9th largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new position in shares of Mirum Pharmaceuticals in the 4th quarter valued at about $30,000. Eurizon Capital SGR S.p.A. purchased a new stake in Mirum Pharmaceuticals during the fourth quarter worth about $32,000. CIBC Private Wealth Group LLC purchased a new stake in Mirum Pharmaceuticals during the fourth quarter worth about $32,000. Quantbot Technologies LP acquired a new position in Mirum Pharmaceuticals during the third quarter worth about $33,000. Finally, Comerica Bank grew its position in Mirum Pharmaceuticals by 45.1% during the first quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after buying an additional 278 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MIRM. JPMorgan Chase & Co. lifted their price target on shares of Mirum Pharmaceuticals from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 2nd. Citizens Jmp lowered their price target on Mirum Pharmaceuticals from $146.00 to $137.00 and set a “market outperform” rating on the stock in a report on Thursday, August 6th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $165.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. HC Wainwright reduced their price objective on Mirum Pharmaceuticals from $185.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Finally, CLSA set a $146.00 target price on Mirum Pharmaceuticals in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.33.

Mirum Pharmaceuticals Stock Up 1.4%

MIRM opened at $98.08 on Wednesday. The company has a quick ratio of 2.74, a current ratio of 2.86 and a debt-to-equity ratio of 1.28. The firm has a market cap of $6.37 billion, a P/E ratio of -6.74 and a beta of 0.52. Mirum Pharmaceuticals, Inc. has a 52 week low of $63.23 and a 52 week high of $130.00. The business’s fifty day simple moving average is $111.04 and its 200 day simple moving average is $101.82.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.32). The company had revenue of $176.24 million for the quarter, compared to analysts’ expectations of $166.33 million. Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%.The company’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.12) EPS. As a group, equities research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt sold 6,001 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total value of $599,499.90. Following the sale, the chief financial officer directly owned 36,355 shares of the company’s stock, valued at approximately $3,631,864.50. This trade represents a 14.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 40,000 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $100.00, for a total transaction of $4,000,000.00. Following the transaction, the senior vice president owned 1,274 shares in the company, valued at approximately $127,400. The trade was a 96.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 133,156 shares of company stock worth $13,763,562. 8.32% of the stock is owned by company insiders.

Mirum Pharmaceuticals Company 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.