Fox Run Management L.L.C. Purchases Shares of 15,691 Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Fox Run Management L.L.C. acquired 15,691 shares of Mirum Pharmaceuticals, valued at approximately $707,000, in the first quarter.
• Multiple institutional investors, including Nuveen LLC and Federated Hermes Inc., significantly increased their stakes in Mirum Pharmaceuticals during the first quarter, with Federated Hermes raising its holdings by 9,440.4%.
• Research analysts have upgraded Mirum Pharmaceuticals, with a consensus price target now at $74.13, reflecting strong confidence in the company's growth potential.

Fox Run Management L.L.C. acquired a new position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,691 shares of the company's stock, valued at approximately $707,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MIRM. Janus Henderson Group PLC increased its holdings in shares of Mirum Pharmaceuticals by 2.3% in the fourth quarter. Janus Henderson Group PLC now owns 4,581,642 shares of the company's stock worth $189,481,000 after acquiring an additional 101,358 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Mirum Pharmaceuticals by 4.8% in 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. Price T Rowe Associates Inc. MD increased its stake in Mirum Pharmaceuticals by 10.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,422,729 shares of the company's stock worth $58,831,000 after purchasing an additional 138,623 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in Mirum Pharmaceuticals by 5.5% during the 4th quarter. Lord Abbett & CO. LLC now owns 782,354 shares of the company's stock worth $32,350,000 after buying an additional 40,986 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in Mirum Pharmaceuticals by 46.7% in the fourth quarter. Nuveen Asset Management LLC now owns 722,155 shares of the company's stock valued at $29,861,000 after buying an additional 229,746 shares in the last quarter.

Analyst Ratings Changes

MIRM has been the subject of several research reports. Wall Street Zen raised shares of Mirum Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 17th. JMP Securities set a $81.00 price target on Mirum Pharmaceuticals and gave the company a "market outperform" rating in a report on Thursday, August 7th. Evercore ISI upped their price objective on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Stifel Nicolaus set a $89.00 price objective on Mirum Pharmaceuticals and gave the stock a "buy" rating in a report on Monday, August 11th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $74.13.

Insider Activity at Mirum Pharmaceuticals

In related news, CEO Christopher Peetz sold 40,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $62.00, for a total value of $2,480,000.00. Following the sale, the chief executive officer owned 138,641 shares in the company, valued at approximately $8,595,742. This represents a 22.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jolanda Howe sold 10,000 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $58.00, for a total value of $580,000.00. Following the sale, the senior vice president directly owned 2,426 shares of the company's stock, valued at $140,708. This represents a 80.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,041 shares of company stock worth $5,320,624 in the last 90 days. Corporate insiders own 14.36% of the company's stock.

Mirum Pharmaceuticals Stock Performance

NASDAQ MIRM traded up $1.56 on Friday, hitting $70.62. 285,896 shares of the stock were exchanged, compared to its average volume of 501,507. The company has a market capitalization of $3.55 billion, a PE ratio of -58.51 and a beta of 0.94. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.13 and a quick ratio of 2.97. The business's fifty day moving average is $54.37 and its 200 day moving average is $48.30. Mirum Pharmaceuticals, Inc. has a 52 week low of $36.86 and a 52 week high of $71.20.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.19. The company had revenue of $127.79 million for the quarter, compared to analyst estimates of $107.91 million. Mirum Pharmaceuticals had a negative net margin of 13.65% and a negative return on equity of 24.76%. Mirum Pharmaceuticals's revenue for the quarter was up 64.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.52) EPS. Research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current fiscal year.

Mirum Pharmaceuticals Profile

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.