William Blair Investment Management LLC Makes New $164.45 Million Investment in Mirum Pharmaceuticals, Inc. $MIRM

William Blair Investment Management LLC acquired a new stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 1,404,741 shares of the company’s stock, valued at approximately $164,453,000.

Other hedge funds have also recently modified their holdings of the company. Contravisory Investment Management Inc. grew its position in shares of Mirum Pharmaceuticals by 2.3% in the 2nd quarter. Contravisory Investment Management Inc. now owns 4,604 shares of the company’s stock worth $539,000 after buying an additional 103 shares during the period. Faithward Advisors LLC increased its stake in shares of Mirum Pharmaceuticals by 0.5% in the 1st quarter. Faithward Advisors LLC now owns 27,467 shares of the company’s stock worth $2,537,000 after acquiring an additional 126 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Mirum Pharmaceuticals by 6.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 3,200 shares of the company’s stock valued at $253,000 after acquiring an additional 200 shares during the period. Comerica Bank lifted its position in Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after acquiring an additional 278 shares during the period. Finally, Osaic Holdings Inc. boosted its stake in Mirum Pharmaceuticals by 46.5% during the second quarter. Osaic Holdings Inc. now owns 1,106 shares of the company’s stock worth $56,000 after acquiring an additional 351 shares in the last quarter.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM stock opened at $96.31 on Friday. Mirum Pharmaceuticals, Inc. has a one year low of $63.23 and a one year high of $130.00. The company’s 50-day moving average is $111.20 and its 200 day moving average is $101.94. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of -6.62 and a beta of 0.52. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.74 and a current ratio of 2.86.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.32). The firm had revenue of $176.24 million for the quarter, compared to the consensus estimate of $166.33 million. Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. The firm’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) earnings per share. Sell-side analysts expect that Mirum Pharmaceuticals, Inc. will post -1.31 EPS for the current fiscal year.

Insider Activity

In related news, SVP Jolanda Howe sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $100.00, for a total value of $4,000,000.00. Following the completion of the transaction, the senior vice president directly owned 1,274 shares in the company, valued at $127,400. The trade was a 96.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher Peetz sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $98.92, for a total value of $1,978,400.00. Following the completion of the transaction, the chief executive officer directly owned 194,309 shares in the company, valued at $19,221,046.28. This trade represents a 9.33% 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. Insiders have sold a total of 133,156 shares of company stock worth $13,763,562 over the last 90 days. 8.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus set a $136.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. HC Wainwright lowered their target price on shares of Mirum Pharmaceuticals from $185.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price target on Mirum Pharmaceuticals from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. Morgan Stanley set a $137.00 price target on Mirum Pharmaceuticals in a research note on Thursday, August 6th. Finally, TD Cowen reduced their price objective on Mirum Pharmaceuticals from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.33.

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.