Mirum Pharmaceuticals, Inc. $MIRM Shares Acquired by Rock Springs Capital Management LP

Rock Springs Capital Management LP boosted its holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 6.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 811,294 shares of the company’s stock after purchasing an additional 49,000 shares during the period. Mirum Pharmaceuticals comprises about 4.4% of Rock Springs Capital Management LP’s portfolio, making the stock its 4th largest holding. Rock Springs Capital Management LP owned 1.33% of Mirum Pharmaceuticals worth $74,947,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in Mirum Pharmaceuticals by 63.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 55,693 shares of the company’s stock worth $5,145,000 after buying an additional 21,579 shares in the last quarter. Quantinno Capital Management LP grew its holdings in shares of Mirum Pharmaceuticals by 166.2% in the 1st quarter. Quantinno Capital Management LP now owns 8,497 shares of the company’s stock valued at $785,000 after acquiring an additional 5,305 shares in the last quarter. SummitTX Capital L.P. bought a new position in shares of Mirum Pharmaceuticals in the 1st quarter valued at about $385,000. ABS Direct Equity Fund LLC acquired a new stake in shares of Mirum Pharmaceuticals in the first quarter valued at about $194,000. Finally, Octagon Capital Advisors LP acquired a new stake in shares of Mirum Pharmaceuticals in the first quarter valued at about $31,308,000.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MIRM shares. JPMorgan Chase & Co. upped their target price on Mirum Pharmaceuticals from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. Evercore reaffirmed an “outperform” rating and set a $138.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Royal Bank Of Canada boosted their price target on Mirum Pharmaceuticals from $142.00 to $148.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Morgan Stanley upped their price objective on Mirum Pharmaceuticals from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Finally, Weiss Ratings downgraded Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. One equities research 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.40.

Insider Transactions at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 30,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $95.84, for a total transaction of $2,875,200.00. Following the completion of the sale, the chief executive officer owned 194,309 shares of the company’s stock, valued at $18,622,574.56. This trade represents a 13.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 5,000 shares of Mirum Pharmaceuticals stock in a transaction on Monday, July 6th. The stock was sold at an average price of $122.25, for a total transaction of $611,250.00. Following the transaction, the chief financial officer directly 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 65,315 shares of company stock worth $6,991,928. 8.32% of the stock is owned by company insiders.

Mirum Pharmaceuticals Trading Up 1.0%

Shares of NASDAQ:MIRM opened at $114.20 on Tuesday. 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 $6.96 billion, a P/E ratio of -8.39 and a beta of 0.48. The company has a 50-day simple moving average of $109.14 and a 200 day simple moving average of $100.79. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.99 and a current ratio of 2.09.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($13.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($12.68). The business had revenue of $159.88 million for the quarter, compared to the consensus estimate of $148.21 million. Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The company’s revenue for the quarter was up 43.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.30) EPS. Sell-side analysts forecast that Mirum Pharmaceuticals, Inc. will post -2.01 earnings per share for the current year.

About Mirum Pharmaceuticals

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.