Affinity Asset Advisors LLC Has $2.24 Million Position in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Affinity Asset Advisors LLC reduced its stake in Mirum Pharmaceuticals by 29.8%, resulting in ownership of 49,692 shares valued at approximately $2.24 million.
• Mirum Pharmaceuticals reported a 64.1% increase in revenue year-over-year, totaling $127.79 million for the last quarter, exceeding consensus estimates.
• Analysts have updated their price targets for the stock, with Evercore ISI raising their target to $89.00 while maintaining an "outperform" rating.

Affinity Asset Advisors LLC cut its holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 29.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,692 shares of the company's stock after selling 21,050 shares during the period. Affinity Asset Advisors LLC owned 0.10% of Mirum Pharmaceuticals worth $2,239,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC increased its stake in Mirum Pharmaceuticals by 259.4% during the first quarter. CWM LLC now owns 593 shares of the company's stock valued at $27,000 after acquiring an additional 428 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Mirum Pharmaceuticals during the fourth quarter valued at approximately $35,000. Comerica Bank boosted its holdings in Mirum Pharmaceuticals by 45.1% during the first quarter. Comerica Bank now owns 895 shares of the company's stock valued at $40,000 after purchasing an additional 278 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in Mirum Pharmaceuticals during the fourth quarter valued at approximately $42,000. Finally, KBC Group NV acquired a new stake in Mirum Pharmaceuticals during the first quarter valued at approximately $89,000.

Wall Street Analyst Weigh In

MIRM has been the topic of a number of recent research reports. JMP Securities set a $81.00 price objective on Mirum Pharmaceuticals and gave the company a "market outperform" rating in a report on Thursday, August 7th. Wall Street Zen downgraded Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Monday. HC Wainwright boosted their target price on Mirum Pharmaceuticals from $73.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Raymond James Financial reissued a "strong-buy" rating on shares of Mirum Pharmaceuticals in a report on Thursday, August 7th. Finally, Evercore ISI boosted their target price on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $74.13.

Mirum Pharmaceuticals Trading Down 2.2%

NASDAQ MIRM traded down $1.66 on Friday, reaching $73.87. The company had a trading volume of 1,080,284 shares, compared to its average volume of 930,933. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.13 and a quick ratio of 2.97. Mirum Pharmaceuticals, Inc. has a 1-year low of $36.86 and a 1-year high of $75.74. The company's fifty day moving average is $56.68 and its 200-day moving average is $49.07.

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

Insider Activity at Mirum Pharmaceuticals

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

Mirum Pharmaceuticals Company 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.